Lance, outlook start with full-year I'll review and year. XXXX financial return to good and the to taking profitability and our we're to before you, Thank quarter actions of morning, a pre-pandemic XXXX our this results turning fourth everyone.
increased For and year was X% net and revenues manufacturing, by volume. $X.X the by a the offset costs, record in prior response to billion from XX% in material, were This fiscal up year. billion, logistics $X.X pricing, lower growth taken driven XXXX, partially up
$XXX was household share was offset activity and was Volume to tableware EBITDA submersible elasticity by the price million, partially outside the offset million costs, driven year, in prior Adjusted bags costs. actions timing by increased from in the $XXX waste lower and to down X% higher categories. recover by gains of partially foil, advertising due other increased pricing to and lower and home, logistics volume manufacturing, which material,
per prior also Cooking share Baking the household in outlook. purchases Reynolds higher our cost was supplemental aluminum and fuel at year. earnings & segment contributed disappointment year in $X.XX cost inefficiencies the drove Adjusted to premium Lower continued $X.XX with versus decrease. earnings provided aluminum previously our versus the the a to of for together EBITDA the consumption Operational milled
driving during the to up & adjusted fully profitability, Turning results. billion billion, million a We while delivered to $XXX increase also segments, the fourth pre-pandemic the EBITDA of prior $X.X $X quarter recovered Waste our terms profitability, reporting fourth and to QX With comparison and of year. XX% earnings. by Storage, net Hefty each to of a Tableware, Presto $XXX year's record quarter, in X% prior Hefty of in record improvement in from revenue million
Lower EBITDA premium together in the segment disappointment to supplemental at quarter household aluminum drove X% our purchases cost of inefficiencies foil provided and period. to earnings share higher outlook. Adjusted milled increased decrease. Banking compared the with continued cost to the the Reynolds a Operational Cooking and the $X.XX, prior aluminum previously consumption per versus in our to contributed also for earnings $X.XX
volume by Baking the X% decrease performance. drove decline, our Elasticity outside home consumer volume. activity Reynolds driven XX% & in Cooking a volume Unpacking and increased a of
their gain innovation largest Presto retail innovation, Tableware share share and did segments by Hefty driven the partnership, channels, volume X quarter, by delivered and all strong service. volume driven increases in in and tracks gains. However, and categories
were earnings discuss topic start for Looking in more summary followed the then expectations a ahead, turn for with of XXXX, the detail. full-year the our quarter. all to outlook to keen our will I we first by I'll
and drivers, quarter on Cooking expectations. the post Our key and first quarter & performance first our for Reynolds Baking, information expectations guide more
to full-year revenues in to the XXXX, we of X% and $X.X revenues net be continued on billion flat minus or our For pricing elasticities up slightly net from with XXXX. plus expect flat, pressure
that January. be we We end at expect to levels saw the the comparison of stable commodities key to rates for by relatively
We expect research. compensation to advertising and million, to market driven SG&A related increased approximately investments comparisons and in increase by $XXX
basis and of from revolution to we revolution source for In initiatives expect revolution growth reinvestment XXX margin growth of to contribution of related were a a of incremental source percentage points approximately potential initiatives expansion. contribution savings revenue in be similar margin X XXXX, expect We approximately cost a points and XXXX.
to double-digit to Adjusted EBITDA the year increase $XXX million the in of by to $X.XX to in range the $XXX the amortization million. low comparison rate million, be share. EPS prior approximately million $X.XX year of which as and an of and be a to mid-teen million, key to in to range is of per effective $XXX XX%, approximately $XXX for and spending expense of $XXX approximately interest Other well, capital depreciation assumptions tax results and $XXX include approximately million of
of range period. the the million $X.XX revenues to mid-single-digit be comparison up pricing the in revenues expect range million For down of to adjusted million, by net million with $XXX $XXX $XX or share. quarter, flat to in in to to first plus EPS period. And be of be $XX the Adjusted of EBITDA on prior the $X.XX we year prior EBITDA year per net in to minus X%
performance let's in improvement, the first an expansion significant current EBITDA cost XXXX which from the annual as about talk well. to and benefiting drivers growth expect phasing, margin environment evident and drive entered the on alignment pricing guide. quarter and the the basis margins fourth results quarter We to is including Now, with adjusted
driven XXXX through be performance and expect as Reynolds Hefty the of Hefty performance for improving continued we solid Tableware by terms & we performance, and Cooking move year. Presto, for Waste In segment Storage, results Baking to &
major on in year-on-year EBITDA volume & at Banking quarter Cooking Baking expect decline quarter the Baking's performance. inefficiencies expect while year-on-year to to challenging more fourth growth, EBITDA cost be Between and in premium the we and of a for on adjusted & quarter, Reynolds aluminum the continued if expected driver EBITDA operational Cooking our any Reynolds comparisons first drag it the of Focusing limited is the milled in quarter. supplemental a are and Reynolds Cooking purchase
the increased our expectations & growth first with is quarter to quarter. expect we would confidence first largest categories. our Baking Cooking driving XXXX normally Obviously, business mind, in earnings after in I shorter our and on entered at And our what are Reynolds profitability. that with share elaborate thought segments factors far in retail Each be for the winning it helpful of
advertising build of in-store quarter in businesses display, segments. profitability We profitability a in margin segments, have plans the covered for the margin achieved leadership XXXX. promotions, all already and fourth pricing to reinforce and and in category of and is and in three into business business expansion translates place Pre-pandemic our these in the level
we to first reliance resulting Reynolds sizable expect operational headwind upon quarter, efficiencies. supplemental is our aluminum cost. And the a milled a big less average After lot in and improvement Baking in see in product other Cooking & in-turn
results during and increase operational quarter. the course to we efficiencies to in to expect We driving the by quarter return the to continue as second of entered over first earnings comparison and pre-pandemic improve profitability to significant improve a third quarter the the first quarter,
call over We and categories the thoughts on recovering the to Mark progress and few cash to leading turn to questions, our driving leave our I committed to profitability stronger with your flows. cash flow. across before business, back you towards like following Now, leading I'd remain pre-pandemic
spending Our as expect further cash grow capital in we on balance sheet efficiency, emphasize further gains and we XXXX increased cash earnings, quarter results and benefited fourth emphasis conversion flow maintain discipline.
of priorities year. capital this are return expected finally, to allocation down And debt our All to this unchanged. is pay drive
call With the that, over I'll Mark. hand back to
