Thank you, Kevin.
thank joining and call. everyone morning, you this for Good
on putting had that Let Friday. by point we what on release me start press a we the outlined issued in
our that XXXX we specific Furthermore, to performance earnings giving 'XX XXXX, achieve March profitability the performance year and material and expect full year growth targets six XXXX our in all for expect will We weeks in you exceed in of significant we XXXX respects. be on financial call. about over will
In quarter, $XX were a to million forced of disruption. to chain the due we fourth delay high roughly margin supply sales
benefit Now recoup performance. balance strong and this the all that QX, enjoy With supply favorable largely we sheet we this believe in growth market that to expect metrics and lost year. poised in to for will fixed we coming XXXX we sales strong they are such a disruption, have that conditions, we forward shift
safe I'll show you -- the here harbor. is
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intermediates chain these supply Within packaging team sourced and without intermediates had pandemic. in years production in sectors. particularly and industry, X, of goods the practices. At has years we factors our pandemic to warehouses buying past shifting on of three succeeded our and the containers, been and in due time many virtually those to trucks So these or interruption of Asia. interrupted three shortages for have state raw global raws, transport have one another, past all Slide across conditions, the materials over ships, unsettled multiple In the the an chain witnessed sourcing used supply spite
near has preplanning. attention we have I am proud and the of done constant as this that required work
insecticide fall for supplier used constraints. unable key persisted 'XX, capacity This was of that soil to several our Aztec of the months. is a leading production start to domestic corn in due However, to produce intermediate our
a intermediate input. process. very of Accordingly, suppliers based to production commence this we positioned Synthesizing one of involves that complex our China multistep
Zero-COVID once the in of resulted which facility nearly policy, in supplier While technically COVID. from was requirements, the filling caught our lifted contracting capable in Chinese China's continual lockdowns everyone
the with during Year. closure industrial entire culminated a New This mandatory the of park
resumed the workforce, intermediate. facility back With of have own domestic started key supplier our Also online. has full its Aztec is the at supplier Further, our manufacturing Chinese in return we of synthesis Alabama. our
usual. prepared As we over returning producing will are the to we so. this XX chain forward as and or receive intermediate, days have key Aztec continue the to looking next In short, be supply business to we
are our me this on we In with parallel, let customers. disruption managing how focus
of We are corn a leading manufacturer soil insecticides.
see brands As abroad. you market we X, and many on S. in can Slide the U. the that
grower inventory by to it impacted As other through of the supply was that these our Aztec became needs of clear disruption, going meet with working Force supply customers increased especially CSIs, be Counter, began SmartChoice. we our to and
While QX, were for up make anticipated Aztec to sales sales the equal of we those QX unable the period consolidated 'XX. to of net for that in
we season. expect in for Aztec forward QX from shift that into the gross net time to 'XX of upcoming planting to QXs we what is at have orders quarter. to have In Aztec typically we the higher short, in amount the than production, Further, Xx achieving we that now hand we and the sales QX profits as during in and full growers anticipated supply Xx in subject first
recap step year. last looking let's a take back Before to forward, quick
Bear discuss unavailability insecticide figures have margin financial targets mind upon in leading full I'm despite data. results of during fourth our the a X. press the to revised the financial about audit preliminary we period, on generated XXXX and soil temporaries is based high As on overarching per basis. release, are sound our Slide on here that year our point The we corn that performance
our bottom, at the a to about P&L the and of Similarly, XX% of profit which range. percent forecast OpEx within revenue to at range. is gross targeted XX% sales margin our at grow are in top also as is from Going XX%
X.Xx Net will accounting. at the the upon the for course which X% our below debt-to-EBITDA max known growth rate rate to target previously adjusted given income and XXXX, is occurred will Interest fall EBITDA last yet excellent. all the over target of within not that it range tax expense range XX% final will our XX% hikes rate. of depend given. as is about year is below and And be well above The this
how own performance Please that be will material up at against we the all mindful year targets. respects. 'XX, that we are look 'XX we prior our exceed estimates stacks When versus expect financial 'XX reporting on in our
let 'XX we past to outlook, turning the on several note strong me the balance that a emphasis have sheet. maintaining over placed Before an quarters,
as can you cash of was ended net compared the million amount $XX the in Further, Slide $XXX debt 'XX. end As cash available see X, million of cash we on to XXXX of with at our $XX million.
our addition, divided is net In by which was average EBITDA, net of debt cash X.XX.
cash funding In with technologies to virtually further debt and R&D other ample the year meet commercializing equivalents like and SIMPAS working accretive we and words, capital cash completing free Ultimus started acquisitions. needs while
we available million $XX on $X we has $XX In completed million X,XXX,XXX repurchase share future repurchase, our million XXbX-X two of after a accelerated shares programs, very which addition, for a capital purchases. share and spent plan, low this have repurchasing debt achieved which of million through having position of still $XX
I Slide returning our increased to thereby emphasize. key X to Further, to shareholders. two a XX% our of dividend shareholders portion that on There are profits our by want cash we takeaways this
First, is boost chain in half first should soil corn that the now to our our issue of supply insecticide effect due This 'XX. sales a QX resolved. miss was
they normally orders current to our achieve second, Aztec and growth mentioned, And As we of in Xx in time year. earnings this to higher significant XXXX. than times are at Xx would be revenue expect
well Finally, we and address our market to expand positioned are the business.
'XX for financial the presents outlook X, the ideal Slide on conditions note company's strong for you'll As performance.
first corn the our during higher As sales half. we mentioned, anticipate soil insecticides of
Second, to meet to we for of to should demand. from lower benefit and cost an inventory raws enable This improved build goods intermediates. supply and expect chain us
in freight XXXX which the down reasonable level and in levels. channel products to more Fourth, are Third, returning is the peaked settled distribution comparatively of costs, AMVAC has low.
portfolio global new market addition, product for In example, more formulations, solutions Brazil, green fully and our into improved of expanded us strong and access, participate to enable in should a Ag economy. Australia
profitability XXXX giving In specific expect summary, we'll growth be more to targets our significant performance March achieve in earnings and in call. we you and
support you thank continued of Finally, American your for Vanguard.
any to And with will for poll questions have. may that, ask operator Kevin? our you I
