you, welcome, everyone. and Thank Bill,
such, an activity will from industry on decline drop our highlighted the half seeing expect and have QX inventory. we their our face X, second procurement distribution channel Slide the read you the as of Currently, in crop face a commodity destock in the low of channel in have decline, strong as strong earnings an the release, in of we stable we As economy industry-wide domestic a sales And products. and are recovery farm prices, inventory year. our of
conditions, the growth green year continue board are note up closely to expenses will forecast. in the be to is important we current order to full to we managing operating original Further, solutions bring quarter see rebound to year-to-date likely improve us half second strong given lines. leverage. our not and The Sales across product in mix for as our enough
between as are much income XXXX million, targets downward mind, and pressure expense. 'XX compared the and sales relates between this between $XXX million, $XX interest net metric and downward million million, to as adjusted lower and to follows: $XX in our adjusted slightly $XX of performance million that $XXX EBITDA for tax million elevated With in $XX similar net
with Those full Let's and more becoming about earnings distributors the and beyond. order global QX early then rates hit were costs. control abruptly to increased judicious, hesitancy as us move their the signs and onward more inventory. start inventory and and purchasing call, our year last second impacted that quarter activity of mentioned slowed the in during the industry In we chem interest associated light procurement beginning destock in carrying of customers judicious ag to
have you, industry and public a drop of XX%. been experienced Like approximately the we the a in of in whole earnings observed reading the report peers our with sales many of interest quarterly as average on
those particularly severe even who carry Some, more experienced products setbacks. more generic
were business of By done as crop We contrast, on XX%. our down sales our down for net further can XX%. high-margin -- much one were overall better. the only have by And would but Net our down of you X, break of herbicides, unavailability follows. Slide sales we see that U.S.
customers that will able believe herbicide sourced be to our since have and We we serve forward. going
new turn, they inventory. of adopted followed a This, in redefined XX practice demand by barn full to garden retailers, the they seen big led long-standing whether of in the is a days having that as centers Within smaller and of it approach. contained to XX as XXX to days similar that with we stocks, inventory stores, exhausted the to drop non-crop have broke sector, trend, or box XXX mean existing a nurseries orders
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to I moving see the of David's year-to-date, on Slide of achievements positive the presentation, X. you some Before want cover to as
major we in delivered make a both materials supply month through next our First, sources raws have Aztec, being November. interruption and set start of manufacturing that now campaign we raw to are use of in run the two of after to advance that
quarters, data, three of past commence again which 'XX unavailable September been fall Herbicide 'XX inventories full time margin the high Channel for our season. herbicide depleted. are of fully in supplier have the will for in and that production Similarly, the
So year this we our next stage, planting issues for of balance from no expect into chain us strong the should that demand know and customers of supply serving season. the then in we prevent QX. At the
of products, biorational products of Solutions a and clip. we largely Further, from sell the into continues to grow soil which strong of includes we sales at which by higher supply chemical are rose the XX%. adoption market. of by immune solutions these to These see Green QX to Compared cycles continue global markets growers. XXX green Second, health 'XX, our portfolio, over products solution
soybeans with to soy cotton XXXX. are we seed addition, in beyond protein, from and respect include uses expanding corn In and lubricant peanuts BioWake, a to
million repurchase $X.X our worth to has into stock the weeks, company $XX plan. and the common our our within quarter, next open the XXbX-X continued the of another concludes Board for to over through plan we That Third, market to on plan authorized purchase stock. common million two repurchase up enter
be value capital. allocation of this to and in prudent a continue see We our to find equity
happy a in a forward precision are With our that precision proprietary the and the of Brazil. and Brazilian soybeans, is global coffee SIMPAS to commercialization bananas, that now product, step first providing technology. both we on report operating huge application now application system, this This product at-plant ground for in the Fourth, our equipment nematocide counter, in that solution, we are includes corn, label cotton, for end-to-end sugarcane, country. represents
yield them manages in past, Slide Bom seven In this will SIMPAS Deere X -- our have to corn of John you on application in at see X fitted by first a They corn. hour Brazil photo, can intervals. and hectares XX-plus XX Futuro's see with found Planter grower Bom XX% have in and of soy, gave system. cotton. kilometers that our average XXX,XXX and per loyal rates tested operated They've different You the X, a boost of SIMPAS already minute unit our Row Futuro, the who counter large-scale been with is an SIMPAS over user product
light the exceptional, American team We to accuracy Bom to the been has the of are and Futuro pleased that much report Vanguard.
solutions interference quite Slide of to counter in opportunity, XX%. million is that only all Turning across the we planted into million in The about X. would that fact counter with the crops. alone. is more. revenue for for X% six potential country revenue to increase intend opportunity these acres Brazil $XXX in If of obtain that SIMPAS we register yield Average is with translate a would large The the acres, XXX applied additional about market Brazil
the balance me At ask of talk return we'll CFO, let about this the comments, point, David, further make few a to year. to our then and David?
