I impact Thanks, mentioned brief the who assessing COVID-XX. how those quarter are go to out addressing John the to have earlier, and time more our John, all hearts in and start then good of our discussing results of Like impacted we business. morning, everyone, with call. first and overview on by our want been joining a detail COVID-XX spend
John our notwithstanding COVID-XX earlier. in For the first as the our had expectations, the – quarter, of with of second-half were results COVID business March, impact unexpected line relatively during on mentioned the
driven increased volume the X.X%, than which If the of X.X% vehicle to million, $XXX.X would have for more decline positive higher in quarter. by revenue per been of impact X.X% COVID-XX, not Organic offset volume. the for revenue approximately
Adjusted EBITDA to SG&A to increase expenses, services XXXX due due to decreased the cost QX as in public of XXXX. company and in QX in primarily increased as the decline higher volume, an relative primarily well costs X.X%,
performance, refer release of earlier first to details earnings complete our quarter morning. this our For issued please press
detail COVID-XX quickly address the assess Let me early manage the some our and Very of business. the now landscape. we and taking team place a time address impact news rapidly put on and to in we pandemic, having to steps the turn the to is into evolving take are centralized
employee We attendance, order bits on enhanced among volume impact buyer and and daily in including our proceeds COVID-XX reporting monitoring our on drivers having business, key others, inventory, assigned assess sold, business. vehicle was our per vehicle, the quickly to per of and attendance,
and quarterly potential the business of these of We a impact a the throughout based and liquidity potential understand necessary the business. in number weekly plans on disruption and the projections drivers to scenarios to created have impact our on the other then levels of various detail address crisis our the of results on and could developed on duration basis key
As to beginning began flow and perspective. outlay April, from our swift part we contingency in cash take planning, early of a cost action
cash and hiring release, our to levels expense to as our other with, a freezing reducing election the and hours well level of detailed senior volume travel with leadership spending, for actions at align worked press volume for branch including align we current Board as employees salaries structure for our the discretionary the reducing As trends, better temporary in taking of time. positions, included this with reducing open significantly we to operating period are their fees reduce
variable sales some purchased Let and and completely Certain are the of that XX% auction of yard of labor, cost of of of the structure. sales which cost certain towing, color cost vehicles, XX% consists and additional are XX% and expenses auction to degree semi total of reconditioning costs, cost on and in branch other and fixed security are Approximately and our services. approximately variable, yard of variable, cost including me provide within cost. costs
cost labor And quarter are auctions. XX% utilities completed reduction Buyer second finally, including costs, approximately will of and we important in costs to since which due have that in to largely the Transformation, also we of specific occupancy, of to is physical our to the It certain Digital see cost we note costs XX% is reduction fixed, services. a that
earlier, less is reductions in as SG&A discretionary fixed, and include salary mentioned other taken here well, I reductions things. XX% than and is While which of actions mostly we’ve sales the among spending considered
where cash deferrals match, of including taken We taxes, as state, payment including and the advantage programs well local UK to appropriate, of United taxes. the States, have in Canada our government payroll, as provincial federal, various also certain and XXX(k) defer
and are We to and of support employees. also government retention related our pursuing tax credit subsidy programs certain
Between $XX CapEx impact the operating Should costs ability that of capital We have forward. to approximately reduced spending also the XXXX. our expenditures additional million meaningfully reduced spending, and persist, or capital our for COVID-XX we time at have cash deferring. of we’ve and the have reducing this CapEx noncritical of identified defer are going we remainder
working proceeds net the exposure to and all relates a investment In capital, collect upfront minimal with have very vehicle, speaking, In their we receivables. the advance charges not a seller remitted until it and buyers of cash on most working been to great cases, capital out sell do relatively receive sellers. immediately As received. when we car and model limited payment fee the has cases, we almost
continued accounts vehicle were you As sales. assigned the working capital and at source a to sell the in investment date that This in from ready assignments part while cash in quarter second has than was greater related in of much saw, ability sale, due declined previously first in trend a the quarter. immediately upfront rate continue to to collect vehicles receivable to for our cash
earlier accelerated On have and had the suppliers payables extend year, environment. initiative our to our an our this with we terms of efforts this in we many begun side,
further improvement. had success We have is there and opportunity believe so far for
At billion. approximately balance total quarter-end, debt was our $X.X
reminder, will XXXX, a no be due. million until have September debt As we $X maturities when
Our million. balance liquidity, and facility million availability, $XXX credit $XX.X in was was included cash quarter-ending which total $XXX.X million
and total As during working which flow positive our we capital we end to with saw the contributor, our indicated during liquidity cash a XXXX. cash since first earnings of the quarter increased added free March, call balance in
size facility On million credit of revolving X, million. $XXX the $XXX our to increased we May by
cash X, As credit revolving million. on net including liquidity, letters of of credit of and undrawn our approximately is hand facility $XXX still we of and May have total
strategy reiterate, we has revolving only and our extreme springing meaning ample navigate order our quarter. that make is earlier, it To at growth the end the we under a margin expansion covenant, are on tested plan. the the mentioned facility drawn the facility execute investments liquidity if John As more current to needed to even of credit believe have environment scenarios and in to we
drawn As If were not expect be to our secured debt facility cash, as less do must the QX. at in times leverage, end total than net and noted, our not less we end consolidated senior be drawn, on defined we less to credit QX notes, senior were be of the defined EBITDA drawn the at X.X of as agreement. our
add-backs The among additional been compensation, cost credit agreement stock for implemented, other has non-recurring things. that costs certain have as not yet programs but saving items, definition such and identified,
net end the At was of senior emerge strong address position expansion. resume taken all and impact to We of X.X our QX, COVID-XX of growth actions us to a today we leverage believe the our secured these times. ratio margin will enable have and in
financial due the to a outlook. in to we provide be this given guidance not uncertainty the are time, at position to providing continued COVID-XX, hoped had we While
will to Operator? With open call questions. the we that, up
