today. everyone, the and Thank thank you, you call morning, Kelly, joining and good for
we the approaching the me we posted make this many quarter quarter, results. the morning, current off start and general some let Despite To comments call headwinds solid we faced environment. this on are how the
downturn As accordingly. even were cost had and COVID-XX, taken you'll industrial all control experiencing actions before end across our markets we recall,
shareholder and operational careful onset quickly during the execute Well, instituted of being maintain control are quarter, cost simplification/modernization fundamental such initiatives, with to as our driving the capability that actions value. long-term we strategic COVID-XX, additional to
details the COVID-XX pandemic. this our of Slide uncertainty approach period X during created by
As focused on can things a is you've to that particularly control, heard is environment. important crisis we in important say it me stay before, the and
as First approach health the where social protocols facilities instituted continuing employees and possible. to serve and of we our an home cleaning Early protocols, safety has such workforce, crisis, measures been self-quarantine customers foremost, including ensure our from protect and in to increased of our while work other safety as the essential business. to the at distancing, our preventative
react And lockdown a also global evolving and a only such force have India. solutions to We operate in and and facility, task best as as region real to government-mandated was there in when been established challenges a disruption. able China were we time. a to exceptions continue we quickly customer-serving share with where minimal result, a to in The the practices have
which but was were this the with other the China quarter, plant, March Bangalore, reopening our end As is manufacturers, operations and disrupted of operational week. closed early the many before QX, part of in India were on XX, our
operate a during in to world safely with recovery. Continuing to how for the operate positions We've already well eventual learned the COVID-XX. crisis us
than the production shut recover markets new of ramping been be have down. the plants and employees acclimated will are distribution to restarting operational production when Our easier plants protocols up that and much
the they supported front COVID-XX operate, line includes so can we've of on our and customers customers addition, In that are battle. that some to the continue
of from ventilator within for medical continue aluminum. applications are for we high-strength and fact, customers other are their customers And course, to converting that general assisting like components need products critical In some lines to with manufacturing engineering. we solutions made support products
COVID-XX challenge, strong the visibility of lack course, liquidity key depth is, of position into length maintaining the a given our Now the of focus. and
of cost expenses actions the substantially and decreased and spending as our quarter, XX% around actions, extensive dollar in year-over-year achieved furloughs target the operating similar by reduced expense control terms, maintaining U.S. This early by such discretionary reduced our aggressive travel sales. in despite XX% restrictions. we operating This was world, and
markets position These with also furloughs and not decreases with to ability keep Furthermore, manage once to end. as possible. our these of these helped to production our globally along while uncertain place employees control cost volume react Using our reduced effect allow aligned types variable strong program. manage to This supported and actions to our maintain us furloughs continue in our as similar allows actions us simplification/modernization times, the only on recover. to but actions, quickly continue with compensation, and margins costs quarter through us liquidity at minimizing allow much
to Looking and markets ahead, remain expectation Also, these keeping our may will mind, pre-emptively cautious increase environment, funds in will revolver end how end on our and that environment in depressed. those cost have be after in kind actions economic even QX. our available With challenging need it's continue the and in that now long on quarter QX depending more approach than control we this with potentially drew cash. of
philosophy later. capital conservative enable due actions with position. about liquidity We consistent precautionary maintain to took our potential detail our program, help I in simplification strong measure in continue to increased mitigate the to this to more will talk our modernization these which markets us Together, uncertainty COVID-XX,
is the downturn consecutive move which the speaks our slide quarterly severity XX% X weakened the state quarter results. markets. to we of X% to Now in versus by end review of the quarter of our sales Organic third declines, year. third quarter organic in and are experiencing to declined the growth double-digit I'll on last This
year-over-year mid-XXs energy The continued end to challenged quarter. the in with a market be again this percentage decline
given it general. on be and will in rig extreme the that sector related recent is the further tested price QX, expectation drop and oil Our in the in effect counts
high closures General sequential with globe. Aerospace the declines production due COVID-XX. from the in Engineering quarter this auto declines to demand and continuing QX from the XXX QX in a teens several in year-over-year posted and year-over-year sequentially worldwide and percentage percentage QX, also as challenges expectations across and MAX plant teens well lower decline weakened with the high saw Transportation
was seasonal improvement and negative U.S. construction quarter, year-over-year Earthworks in slight Finally, reflecting of in activity mixed, this growth pockets but mining.
By posted to higher region, all double-digit quarter this year-over-year compared declines and declines QX.
quarter, quarter China Although China Asia easier affected amplified quarter. will were of the most decline, were effect affected we the at year-over-year some the EMEA signs the COVID-XX this our end, the is expectation mainly stabilization reflecting and Americas be Pacific it less in experienced by by in QX. smallest By comps, levels. seeing low was but in in COVID-XX
and decreased improved were Adjusted EBITDA on XX.X% XX XXX And margin XX%. the The absorption. variable to raw which by positive offset margin partially points on associated basis sales. lower revenues materials, benefits, year-over-year control cost under compensation almost previously increased contributed points driven in basis basis sequentially, discussed and was as lower year-over-year by This by decline as well the lower margin points actions. primarily that modernization volume year-over-year XXX was simplification/ down
sequentially year $X.XX $X.XX in decreased year-over-year increased but quarter, prior to $X.XX. by Adjusted versus the EPS
on over the Damon, forward. slide an to to I provide Before X. I want call Please going turn update areas key current turn focus the environment and to
our QX. want do uncertainty however, understand, outlook. for to transparency the we are color therefore, around some by the Given withdrawing and need provide expectations COVID-XX, created our We for annual
Preliminary speaks market April severity approximately headwinds. the sales to of XX% down were year-over-year, which the
the effects continue. actions the within Now month significant effect sales see put full the control to we to important April will in seeing can reflect first on perspective essentially the strong that we Considering are of these our it's Therefore, outside expect in consider of QX. April quarter, China. this trends, not that is may cost to COVID-XX
would This expect driven within sequentially strong would sales, despite To free range. expect assuming raw but adjusted materials and sales actions profit turns control April implies help benefits continued be full cash would for be the in simplification/modernization positive the modest to effect quarter, decline our the neutral flow decremental expected indicative by the QX the operating full we well benefit to of you in Additionally, profitability, gauge be significant decline improve of remain roughly as a we QX. to from as the deliver to and than out and lower cost QX, year. expect margins
volume, as the uncertainty when biggest recover. discussed, of said, being we company course, on our of That to through in position taking and the seen. period However, markets we the growth which of manage remains this source be confident COVID-XX ability actions to uncertainty in the the company effect for are am to of is I
quickly As capacity connected enables production furloughs when so markets operational actions similar to I mentioned, to employees keep us recover. can and ramp up using we adjust
is honored end single recently automobiles other which medal machinists tools. standard, Edison milling enabling strategic required initiatives, our HARVI we the to we for use new new a are like multiple efficiently metal sets faster product standard by TE by mill product winner performance to prestigious tool and the in Awards. as to of able with It This the recognized aircraft, the than for previous gold many types I products continue engineering. was that a a Furthermore, new and more And such general as launching mill. metals applications were a components
our the shows current importance initiatives. strategic product sales innovation for continuing of which on the expectations, the in conditions, market this Even exceeded focus our and to of have power
me higher and fiscal $XX volumes. last take achieved minute incremental savings our the expect a strategic we be program. this an than simplification/modernization savings let $XX are fiscal So million we modestly still on despite million you pleased, update achieved year full to year to having lower year Overall, year-to-date,
was be of this needs. reserved indicated our remaining with by for we that future and spend previously call, XX% earnings will On be the the volume simplification/modernization year-end, XX%, that discussed, approximately as incremental associated we will capital expectation fiscal our complete last
can in and EBITDA once in much So such recover achieve delivering our of $X.X confident really, to billion. change not range targets we we in adjusted our billion markets that the remain $X.X sales schedule,
over to and then come I'll now some the turn to Damon, provide remarks. closing back call
