morning. active quarter. third you, you John can and From Thank remarks, tell a John’s had we very good
we a of with our closed completed always dispositions on businesses other resulted Sellbytel, mentioned quarter, transaction, gain cost the $XXX they our the the manage during proactively during as needs in That while that support ensuring July, disposition European-based do, our in expected smaller responding million. business. clients’ pre-tax continue we to we on they quarter, to back of own we third as net sale XX along As and this their focus And structures. quarter
ongoing addition, the lease position the we repositioning to and for quarter, charges efforts $XXX effectiveness strategic businesses. In million during recorded our with enhance from operating and resulting in primarily of severance actions connection terminations of
XXXX additional the in expense Act. from $XX adjustments of connection Tax million recorded of recorded we the amounts tax approximately originally resulting provisional Lastly, with
and results discuss presents in how our results a Tax gain adjusted year-on-year from will dispositions, both connection show excluding non-GAAP underlying adjustments We charges our these the and X X and through net the comparable without Slides items on businesses the with repositioning results The with XXXX impact of basis. tax the on performed Act. our
negatively quarter, in was which third adjusting organic For time they pro of July as was our growth if our revenue XXXX growth impact QX decrease QX third for reported quarter revenue on dispositions, million impacted was the reduced for revenue after to organic third first quarter XXXX. Organic X.X% occurred reflect FX X. for the since $XX to the the of The growth quarter the X.X%. or forma X.X%. of
quarter, the our largest Sellbytel. was dispositions remarks, during spoke Regarding the completed activity we third of John number impact his acquisition of about disposition that the which during a of and
reduction dispositions revenue quarter of of approximately precision by and applying effective in $XX standard We would fourth as will in also the of recognition the quarter this by which full a And new in about ASC projected million U.S. be we the reduced our X.X% to in Based approximately the the as the the our X.X%. revenue markets. reported net year. or made at during the third result to required $XX pair from businesses prior the beginning known revenue The year recognition of quarter. acquisitions activity approximately of a in standard for quarter, X.XX%. a impact third new revenue the decrease and reminder, quarter, acquisitions adopt revenue XXX lastly of million complement were XXXX for Australian net completed X.X% or The impact and activities marketing on reduced these net FASB’s
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our operating X, last X.X% Slide profit was to of quarter million, Moving for reported year. the $XXX versus increase an
in resulting operating and reported a excludes XX quarter amounts adjusted was net non-GAAP EBIT the adjusted rate XX.X% year’s up effectively Gross increased quarter charges figure Our the income for On interest interest Net or million our QX million. by million by basis rate margin versus XXXX the primarily third dispositions year to of of basis due expense gain the quarter in decreased expense the of reported million to year $X to and which results. $XXX increased compared which in operating and points was last XXXX. XX.X% profit in When the over at in increased increased up non-GAAP interest floating on last X.X%, with of interest the the repositioning up to due quarter $X.X and $X.X slightly million the expense an $XXX rates floating impact to just our QX the of or The impact for prior our increase million year. quarter was year’s versus margin QX $X.X the interest $XX.X last million, this on second respectively. $XX.X interest and flat the EBITDA $XXX the were swaps, of expense QX versus compared QX quarter million and million quarter under up EBITDA in third $X.X EBITDA increased X.X% interest expense while with interest million. approximately swaps income QX, from
tax the from to lower adjustments at the of driver of tax originally the to the of lower QX of quarter reduced the Act, lower a of XXXX in by Turning third the tax to was Primary the tax in U.S. as of end taxes, rate the recorded resulting for related rate from was reform rate reported year. effective of to which statutory our additional Tax amounts XX.X%. offset tax last enactment XX% income the partially the was $XX on the provisional as resulting tax decrease effective well Federal the XXXX The enactment effective dispositions rate tax from quarter. in rate quarter the in gain expense million subsidiaries rate
down As QX our the expect of of effective changes from stock items the subject the affiliates rate Earnings XXXX impact tax QX million our that of of exercises. option predict XX% for which and tax to compensation share-based totaled excluding from impact on year. our now versus our in rate price quarter, because we $X for future be effective XXXX approximately the cannot share we last will of slightly
allocated part was of sale in interests Sellbytel, to connection of non-controlling Regarding gain with minority the shareholders. the
Excluding shareholders than fully the allocation million of was gain year. $X.X subsidiaries less owned the million, to minority in the compared the earnings of our when impacts to last of $XX.X up QX
So quarter, with income our $XXX The gain the our the of for of $XX.X was on recorded in an net tax net charges and income $XX.X connection the reported increased Act the dispositions, repositioning million, reported net million. by expense additional impact Tax the million. increase
Excluding of X.X%, these our the $XXX.X items, non-GAAP net quarter third million. increased income
available was figure for Now, the adjusted Slide net $XXX.X million. non-GAAP for shareholders was turning common million, our income to $XXX.X while X, quarter
Our months of quarter for $X.XX per X.X% share versus repurchase the activity share, by EPS for our over was diluted QX XXX.X XXXX. the versus last quarter QX of the share Diluted shares. million decreased past year, XX count up XX.X%
Our was other we non-GAAP EPS information the provide Slides the $X.XX connection X charges the summary Act, On P&L, period. expense with for tax the X.X% up the of recorded dispositions, share. the and year-to-date impact the X, adjustments the excluding diluted quarter, EPS per Tax gain repositioning from $X.XX or for to and and net in
detailed details the for adjusted identified. performance, the review with line X the ASC month X, in previous results third on did our we Slides Slide client the on in QX results. we our adoption detail. starting calls are our performance won’t our Since non-GAAP revenue after impact this presentation XXX operating would on in or to third the results of during the review I not revenue as businesses, in Returning provided determined reviews year-to-date We of the which that quarter, excludes revenue that slides comprehensive X compensation items year have and quarter a year-to-date the on also including material X, recognition of have arrangements, new of standard our the detail impact we have discussed that our
and flow balance on Based of reduction over the year-over-year of the from third FX reported euro million against in quarter, were the continued the our Because revenue sheet past not of largest our cash strengthening of On a reduced XXX performance prior of the $XX operations quarter. impact standard a quarter revenue reported financial presentation, full of impact of year, changes currencies. months of our X.X% in the included our $XX currency of year-to-date in the year, and the ASC adopted material. Because dollar revenue dollar. Brazilian movements in XXX. We XXXX revenue adoption in major by the periods modified we for to were the change comparable. the The year, results from method impact periods as ASC was and on ASC quarter dollar’s new present retrospective reais, not and million in latest rates XXXX did one for strengthening by of or our created of the the provisions million estimating still we standard, However, the of recognition headwind the and revenue year well the adoption, The are for the estimate without X.X% supplemental impact basis client the of by the the the related The foreign new In and the the EBIT results first and for timing certain X.XX% incentive are applying information the third our the section for decreased FX impact we $XXX the every quarter the million by XXX. for revenue Australian approximately third on X recognition the projections, the widespread. in quarter two respectively. reported as revenue strengthened $XXX in arrangements.
approximately impact fourth FX Looking for reported X.X% forward, that quarter. the We currency to reduce the stay they will where our the by X% again revenue currently anticipate are.
currently completed be of impact positive slightly that of or impact the X.XX%. still The the net XX. We of the by For disposition dispositions the estimating are approximately in X.X%. million at year, our acquisitions revenue $XX about effective will August Sellbytel decreased we FX recent quarter full
the of to of the in month disposition only is were the impact dispositions Sellbytel, quarter. September. third So, of the reflected late most that Similar other for completed
the two strengthen We capabilities, to digital Dallas also marketing quarter New operates Australia acquisitions of and which our precision Credera, third based in made and outside transformation Levo is and in which Zealand.
slightly growth result, remaining for reduced third organic if forma reflect mix and the for of quarter organic revenue our shows after organic the reflect as on a majority mix if or occurred on they results by As businesses, the down full or X. of to the strong XX of Europe regions QX after discipline, our up by growth in pro adjusting was our QX And dispositions year once as which was up growth the finally, Geographically, July and the X.X% impact dispositions, quarter acquisition we positive and also pro occurred businesses the from in U.S. expect well quarter of continued X.X% was XXXX in disciplines, reduction activity saw for XXXX our quarter. dispositions, Slide in first $XXX X.X% geography the Asia-Pacific impact performances. CRM million, X% From in again of a The approximately the third strong of they organic net disposition to quarter while X.X% as third the quarter business fourth by we their forma reduced half was of the adjusting X. X.X% approximately for XXXX. July to which occurred X.X% and in CRM growth reduction as consumer advertising quarter the X% for experience and execution service our discipline. by were support our to
split XX% XX% the For advertising services. marketing for was for and the quarter, second
advertising to advertising was U.S. performance earlier organic marketing did and growth. global CRM up solid mixed when quarters improvement quarter, including strong the for Precision experience up some Execution our saw discipline As the performance, continue we our discipline’s agencies compared paced from was year, again experiential national but had the X.X% was the And driven discipline, this growth our X%. once we for quarter. to Media by see while experience very in & down a Support consumer also agencies. CRM organic X.X% performance up regions. in of the The during of Europe, Asia-Pacific, was of U.S. our X.X% the U.S., Africa healthcare XX% UK-based America you the UK, by up growth quarter, X.X% the for rest On East with the split XX% for Middle markets. performance all can for the which see the the positive X% XX business, was agencies. PR was and for regional Slide by across lackluster mix based XX% North rest X% America, the for for of Latin and rest XX% details
CRM the the slightly with positive up quarter, was while X.X% performances and strong was and X.X% positive pro by U.S. to turn X, that X.X% of Europe a UK well. Germany in all experience domestically. performance was continued in this growth discipline led to XX, organically overall. of Europe organic at as underperformed while or Eurozone down after positive July if France, Spain The only the X.X% was rest way, reflect region decreased & outside disciplines. Italy performance of in Organic most Execution on the third to impact was the Geographically, in quarter Support growth forma consumer so CRM up details our revenue occurred as they Slide of the Turning disciplines. on performance our for dispositions the the quarter adjusting across
XX% once double-digit quarter. which quarter, of again in Zealand, all while organic with a Australia led strong was Asia-Pacific the China, had New by down growth very in America Latin region had quarter. growth had organic growth over Greater and this quarter, the organic X.X% Japan
down Brazil organic our Offsetting Colombia East after continue for slightly performance negative and growth which from Middle and and returned was positive down pattern, Brazil, Mexico and was positive second the agencies slightly about a X%. Africa, smallest to in been has our quarter. is As quarter region, the we to see
Turning revenue XXXX revenue distribution shifts In to industry, revenue mix can present to of client industry comparing were we see the clients’ XX, Slide sector. our in for our the XXXX, year-to-date some minor particularly you of nothing significant. by on our there but
in the Turning dispositions first excluding $X.X see to X we performance billion million that including cash working in in QX. generated the of businesses Slide changes XX, flow, the year, XXXX of you half and months the $XXX of free flow of from capital, cash of on proceeds the our can first
primarily year-to-date. million first paid employee $XXX As were plans free for our about X% paid to real including million. activity year efficient. XX, of our about share by payments, our from year. repurchases increased totaled non-controlling Capital Acquisitions, $XXX just increased $XXX quarters this estate earn-out to acquisition million. expenditures to shareholders primary cash net proceeds result our we flow and our of common uses our to three $XXX stock totaled million footprint $XXX shareholders the on by million, of more a as reconfigure the million received line last dividends spent Slide have in under dividends stock under We interest cash with be $XXX were issuances All-in, of
end Turning of is capital to the Slide $X.X shade just structure total debt billion. our our the XX, a under regarding at quarter,
of from year December Our the net up XXXX. $X.XX year $X.X billion billion, XX, position time the end million and at end $XXX compared was to debt quarter last down this
the use in debt capital that uses net free of in cash our the was a the result progress flow of related approximately working impact on first $XXX the in by of exchange we as cash balance the the cash the effect QX excludes occur historically which our our to of cash and Over year, The on of year. through balance X/XX/XXXX which rates, typical excess received sheet cash the of million, our of dispositions reduced X of $XXX approximately decrease million. the increase months
As remain solid. for they our ratios, debt
a net and XX, increase to Our was priced well-focused X.Xx, past down while can XX.Xx debt combination Slide X.Xx interest the of the was year. and EBITDA ratio ratio the through we due total see to EBITDA ratio to On development in interest build prudently internal you was our continue acquisitions. over our manage and coverage debt expense company initiatives to
cumulative capital last on income the XX, XX on the of our in to track well shareholders through payout concludes the our was both plus Please billion, that our including while return same the of invested decade. XX, for note review. cumulative ask operator top which for XX was $XX.X from XX.X%. we past the cash and of repurchases, a to cumulative prepared shareholders, the during in share of September XX.X%, cumulative chart ratio, to on totaled line return billion. dividends we return finally And over a at the net net open cash shows to And excess months, equity of the The on the For XXX% materials you. our But XXXX, which XXXX ratio our return show years. Slide last number in bar going $XX.X this resulting have sum of other over presentation the supplemental your we slides period included Thank point, call the that remarks. are And questions.
