our more in Stephanie including information referenced. the morning, appendix detailed everyone. my And measures comments the on John. financial quarter fourth the by good X. I'll Note that begin covering highlights the Slide provide results, Thanks, on non-GAAP schedules
in Components Piling we divested reminder, business XXXX in XXXX Track a and the As
the amounts Rail, Accordingly, These within discontinued transactions and Track Technologies were reflected Steel include with and Services. presented not the segments, Components Piling the in Measurement business today operations. Products as treated
$XXX.X Fourth $XX.X strategic XXXX. can QX growth in million, of The actions improved quarter taken was transformation sales organic business an the million driven increase were and over accretive by last strong portfolio year, in the basis seen our business be points, activity. divestiture XX acquisition contributed to to also margin gross the points our expansion, due Margins up improvement. which XXX and in largely legacy basis
the returns with up to loss the reported net was due acquired noncash transaction coupled personnel $XX.X $X.X from expenses two million due businesses, and charges businesses asset and million, M&A have required million expense impairment our was to million difficult million Both for the $X been specific $X conditions. quarter during expenses in was fabricated in additional measurement quarter. increased business products. these costs, of in was increasingly to SG&A The $X experiencing and two items. market businesses. of attributed intangible bridge precision our
term As longer these the their result a our of of quarter. required outlooks, reassessment charges were in
standards putting accounting assessment income required much position the the tax asset In net resulting tax year-end. valuation tax evaluation of million reserving was net as on in quarter, expected cumulative addition, deferred fully from we on our the These preclude in our evidence position, asset allowance necessary a the historical standards. allowance. based in recorded valuation This at allowance us valuation taxable weight full an $XX.X by thus future of
these come. shield expected drive an to have tax and As for which coming the obligations profitability valuable forward to years most provide carry in reducing to years, indefinite our cash our of assets, a tax period, strategic tax growth transformation improvements continues are
Adjusted improvement next $X.X EBITDA in of million $X.X million, to XXX.X% cover the increase I'll increased a slide. this year-over-year. drivers QX on the
year. totaled X.X% a and prior increased X.X% decline increase Fourth backlog acquisitions, from offset organic slightly orders decline by divestitures. from divestitures. improved year-over-year from million increase XX.X% to $XXX.X partially quarter only XX.X% over due and by from and the XX.X% XX.X% organically nominal a quarter offset $XX.X a Orders million acquisitions, Fourth up
in improvement improvement reflects the in of the fourth in in with X activity million decline sales year-over-year organic the increase representing driven I'll during of $X our on divestitures. the Slide acquisitions, the spend million business on which million the $XX.X growth chart the a minute provides $XX.X impact quarter. sales, by XX.X% attributable added overview from The a an notable legacy The quarter, year-over-year. left to portfolio shows which drivers a
depiction the current acquisition the inventory from of EBITDA a chart in consideration impairment we charges. moves. business and profitability lift divestiture as Adjusted accounting contingent adjusted and fourth purchase both is portfolio of expenses, the powerful related intangible the our well removes quarter achieved The our quarter EBITDA legacy costs, VanHooseCo for impact year and fourth as the
leverage combined meaningful approximately and adjusted XX% million increase last quarter. The profitability overall impact and business the to increase is achieved net reported in representing sales the The sales year, $X.X nearly the a EBITDA on more Our million adjusted basis. related leverage an a EBITDA, in EBITDA a portfolio dollar margin on increase double in on representing net with up on in growth. our from with a incremental growth $X.X million representing net sales legacy in result M&A sales the activities, achieved is of the $X.X QX adjusted million M&A related even the delivered transformation EBITDA, X.X% $X.X absolute significant of X.X% XXX%
the which improvement a is profitability. this we second run rate significant our row in quarter reported that highlights X in Slide a in
portfolio. previous results us reflects began addition change EBITDA over second with the During continued actions inflationary, three unprecedented adjusted were step X hold. results. combined into chart outlined to third December ended chain month XXXX burning situation first in These within portfolio from the result first on in the margin the transformation and strategy. half improvement this strategic highlights we trend in a first adjusted for confidence became EBITDA to in margin transformation XXXX, our our as the see is XX, the our change of businesses fourth and labor XXXX, the quarter. of and This in We a challenges and half for in X XXXX platform were underperforming our The and is margins and of half XXXX, and faced And X.X% the the supply taking benefits give refreshed XXXX seeing quarter recovery our that periods. enterprise track The deterioration we results. months the
coupled nominal three our by a improved offset with an activity. Fourth quarter Rail expanded driven acquisition segment margins reduction performance margin $X.X profile leverage XX. associated on revenue Components, of million Rail volume next Skratch, to growth, increased the divestiture in acquisition with I'll the Slide by cover Rail year-over-year and starting partially segment Over Gross divestiture XXX organic Track due with segment of points, of each the by XX.X% and the slides Products. with a basis
portfolio last versus in backlog orders broad was strength in QX and were New across nearly XX% demand the X% up year, with year-over-year up
the increased revenue growth segment year-over-year. XX, Slide sales we basis demand diluted business. the favorable VanHooseCo backlogs purchase levels in from infrastructure this to funding by XX.X% and on driven XX.X% acquisition VanHooseCo Orders Organic margins representing XX in of contributed year-over-year announced And inventory trend points. included points XXX adjustment, XX.X% unfavorable strong basis Concrete up increased margins legacy government impact $XX.X accounting Precast with to the margins Gross both a expect an and which reported and are acquisition Turning the products our the segment VanHooseCo and environment acquisition continue the by increased $XXX,XXX improvement for million, year-over-year. programs.
The and in Slide Measurement, our by improvements on and organic increased business. the business third weaker Measurement driven Coatings margins $XXX,XXX Fabricated increase in XX.X%, backlog Products rates business. points increase was to and attributable the by realized Steel QX the X.X% profit XX% Order Gross X.X% XXXX. and by the quarter while XX.X%, business of half the to by the attributable the XX, the Piling a of sales the the XX increased sale For basis Coatings backlog decrease unit, in Piling margin increased with Bridge or year-over-year. increase coating of segment booked order offset revenues in partially approximately pipeline Summit sale of from margins Measurement with improved offset
by hold of million results decreased as adjustment. Slide of accounting partially portfolio margins In VanHooseCo offset purchase sales well sales to from The the total, XXXX a $X.X adjustment year. Despite XX. the million XXX Crossrail The our increase acquisitions. in XXXX and inventory cover the adjustments decline, basis I'll points. million decline, $X by settlement gross year term XXXX driven drove the accretive the or X.X% $X.X XXXX was a profit longer executed X.X% impact X% actions from despite both pricing as million projects, last reflected of versus gross XX.X% legacy now take margins reported as $XX.X on business, as million, by related unfavorable X.X%. the up profit year or The for organic half sales at finished began diluted to mitigation in gross full for for reported and the impact divestitures of increase full improvement changes cost our as increase well in year. the second in was realized $XX.X the
expected Selling sales increase relative and of XX.X% year, increases for increased professional administrative in personnel, $X in million to of XXXX. up VanHooseCo expenses in from The the largely million $X.X $X.X transformation in or activities, for in XX.X% full including the travel X.X%, costs XXXX million and costs. representing sales portfolio to contingent to impact due was consideration services acquisition and addition
year near with full remains ratio Backlog book-to-bill levels X.XX. of a record
to agreement priority QX credit uses covenant credit made. of covenant portfolio it's that well is as moves X.Xx a XX. leverage the we've we per turn the of by on a liquidity We gross reflected half agreement ratio leverage gross given representative cash and highlighting credit Slide chose discussion declined our our start our believe I'll A true highlight leverage in requirement. the our of to below X.Xx,
debt nearly Concrete. million redeployed flow Precast accomplished, capital Highlighting and generated IV Free cash in $XX investments we've net million our quarter VanHooseCo by at the growth Skratch portfolio reduced unproductive meaningful million platforms: in within in $XX to to three moves the year-end. and $X our within Technologies, we've Rail
in Our within turns organic these growth attention further platforms. initiatives investing to now
on slightly is The that incremental note to specifically X% years. to range of opportunities which sales. be insight, tied projected approximately approximately investments investment two expect we be historical You'll payback than and clearly X.X% of of our higher is X% to to growth the is these CapEx sales
Federal that million of million cash in in $X early debt additional We Rail use report to forwards Concrete capital $XX $X have We're income approximately deleveraging end operating not credits. We've future. reducing our made an month net at start the tax progress to of February projects Federal from organic to minimize with that approximately in but available in top million down will collected delever. refund I'll availability the Technologies that we million, the fund we XXXX the Precast everyone we've and additional priority U.S. opportunities net $XX deferred in pleased carry I'll balance quarter. to continue modestly underway. allocate growth our loss is have the to remind and QX these recorded cash valuation more tax in does the taxes of allowance tax highlight February, impact further
cash our And year million and obligation $X million fulfilled Union stands XXXX, in in beginning boost with settlement Pacific flow XXXX. December resulting at $XX in an will of lastly, operating be per in
expected John decision million the outlook to will the authorize leverage buyback remarks. in driver closing cash improved of The was cover his and flow which critical program a $XX stock
transformation. allocation as prudent, cautious a strategic In we summary, we our maintain will continue capital execute to philosophy
revenue backlog. with translating and at Slides revenues year business the ratio quarter Products XXXX And on sales year-over-year backlog the to were driving Precast and in reflect sequentially a XXXX. Rail performance X.XX largely fourth a booked the Summit the book-to-bill up orders ratio we've book-to-bill up seen full the to backlog XX in the major book-to-bill Concrete the increased strength in approximately ratio to My throughout closing Steel full a to favorable of increasing refer covering and the year was for translated the segment. by X.XX order addition during Their VanHooseCo book-to-bill to contributor order XX.X% the rates year. and QX. consolidated for and increase of The our orders in XX Measurement in increasing Slide quarter. X% X.XX The comments orders, and each sales The for also favorable XX XX% ratios the outpaced Rail QX. Rail the segment robust substantially through performance due
the on XX backlog reflects segments. consolidated our robustness Slide with all lastly, growth And in across year-over-year portfolio generated
a achieved in quarter X.X% to business remains backlog and The serve. increase up backlog Our by is year. commercial backlog and levels organic with last approximately increase, the XX.X% near The this strong levels ongoing net the remaining year-end moves. XX.X% and order versus portfolio intake record markets the strength the we demonstrate impacted third due time was in
recessionary in and While programs the served broader announced markets, remain longer-term to both risk, remain the and near macro conditions expected prospects for we growth support funding market are a optimistic our in the provide. government
time. now remarks. to Thank it hand over I'll you for John your for back his John? closing
