Thanks, good Randy, and morning, everyone.
wanted into Before included to I the to in for out for call one-time items reconciliation on results the dive of the few the the GAAP quarter, in items the appendix. non-GAAP adjustments a we
sale ECS completed discussed the and all exit of First, strategic we've last quarter. product of the lines
positioned $X the assets going are gain received strategy million. $X focus We by net quarter. are line execution in net to product actions the during portfolio proceeds million with Our of lines the proceeds product a divestitures on forward. in and offset were we from associated the complete, These resulting
for on move to were flat our with quarter were the the and quarter. than million Slide Let's X. line higher fourth of our the Sales on in Core results quarter $XXX expectations. in guidance sales
this product have allowing market. is new the of As and us to along vitality our achievement commercial XX%, improvements in our made we believe effectiveness exceeded the outperform Randy we with overall mentioned, we goal
reflects points. tax so by XX%. XX% global our than rate expected of been quarter guidance. was the higher the for Globally, timing the The which economic approximately XXX the improved with regulations, year, year for XXXX. margin for tool our had fiscal outlook The remain lower challenged, new market for but remains the Adjusted EBITDA rate in sales indicators year, guidance the later consistent effective the prior basis than quarter and in our quarter
slightly margins effective the higher higher EPS were of year-over-year compared the the top range. and per our lower guidance at $X.XX delivered At strong Despite to sales tax XXXX. share, we rate volume,
the X%, to net turning sales The respectively. approximately on exits Core tools the sales strategic sales waterfall was decreased X%, by $XX million. service were Slide impact for of X. flat additional and an dollar our reduced strong by impact sales the quarter, from both and So
the a of and to medical QX. growth core decline quarter, digits the slipped order impact in saw timing out December during was results heavy sales the We category. excluding were modest nature of at but in $X attributable of the X power-gen North lumpy on led deceleration booked quarter. lift double-digit product large that varied million the Tool products Cortland down sales in region. were sales the continued product sales we America saw low-single Core tool by
low and is are expectations hearing what The in for consistent single-digit our decline market. with the the year we
regions are America worsening continue in the others roughly are reporting flat expecting None, are year, moderate as especially declines verticals. while distributors with last quarters mixed ahead. to significant Our challenged certain however, in showing North results certain
Product single-digit versus Again, sales low-to-mid from low-double flat the of the up sales the in lumpy by HLT in Europe year-over-year impact tool stabilize we the were heavy core The lift products, year. prior appearing products. quarter. demand digits declines driven overperformance fourth to saw removing several was with were
relatively digits. stronger demand and to And seeing flat. was are others the low-single countries world certain the down flat rest of While are
service. of XX% in our in This its excess capture APAC by East look as a drove we with continue year-over-year decline prior year, the region. in series unplanned projects region the as at was the to small and and growth Middle Taking service, we performance large continued had strong a Europe projects of in offset year-over-year expected, in the
of pricing impact was Lastly, the the negligible quarter. for
overall If The favored these our and the I sales, XXXX strategic improved EBITDA benefit we product Slide year headwinds. year. in points, by versus adjusted to service of and than and said despite flat in EBITDA as improvements a reduction we hold restructuring declines margin and EBITDA offset the mix the turn exits to despite from and HLT the in service XXX prior were basis resulted volume volume that current more able X, impact actions in earlier, that
this from products similar are tool benefited noted, for Medical our our very growth the strong to profile these also And as We in profit we businesses quarter. products.
approximately in quarter versus turn lower the with line now this we improvement and Significantly year liquidity we working our first drove to which expectations. during sheet of million fiscal and in XXXX, million bonus cash quarter our on capital build the the used $XX X, lower was If quarter $XX the Slide payments balance of during year-over-year.
the and It's $X to of consumed were fiscal million used in prior respectively. definitely and worth cash by in the down $XX costs, million years primary the quarters ECS included $XX discontinued noting first million both $X alone Capital expenditures working from in And that million the year. operations. in XXXX, ECS transaction-related capital XXXX addition
with quarter million $XXX the on ended cash of hand. We
long-term XX outstanding. term October ECS leaving off the remaining as bonds loan, following debt the million As $XXX Randy noted, we paid of of transaction, our close
at million manage balance of cost We our also as shareholders. bought approximately capital both sheet quarter, back we approximately XXX,XXX of stock a opportunistically during priorities and $XX with capital our to allocation consistent our return the shares
X.Xx now XXXX. versus at sits Our X.Xx leverage of QX in
lot with Our our balance to a of flexibility sheet provides continue execute growth us to strategy.
another provide more expansion fiscal and run the back Before annualized our to as exit EBITDA Day we EBITDA wanted slide date look how achieve we and I to progression call at to Randy, color expect our the our turn margin take I from over XXXX. Investor to XX% on rate
our EBITDA Investor So margin we now if XX, Day. from to Slide turn
that As our believe we rate the XX% ability in an to we we discussed XXXX annualized at path end of achieve actions XX%. of actions in Day, as annualized XXXX. to detail have process would bottom margin have today achieve with If we have we clear taken run page, Investor forward we the on target to allow to a either the look start or fiscal us
margins we We of target savings XXXX. XXX of in shapes stranded benefit ECS points through year the from elimination fiscal XXXX savings. XX%. So in walk and basis began implementing million and our This up how We with XXXX. our and for million improvement future this of for actions from of $X the costs $X EBITDA restructuring the during reflects announced guide ended let's included
the when to bonus by savings the of annualized to number by the adjustments actions to $XX we savings. expect in end million million expect the to, projected partially $XX one, to of XXXX And of progress taken the expense. as year, year identified the deliver we The we the we were plan have savings, restructuring high-end through announced complete offset
back of savings completely that This $X the in year. executed by have we will additional will result annualized an half of this million
XXX also We the XXXX end add will million an of of two sales will the have additional $X actions on in points our combined the additional these midpoint by of year guidance. ECS margin stranded costs basis eliminated the and based
drive will $X includes Secondly, we in plan year-over-year or to back improvement. the million consolidation to this $X savings XXX complete basis the of which million of plant This charge points in in plan fiscal Cortland one-time of this the half the year margin execute year.
to With XX% current using complete, the will deliver the EBITDA end margins year calculated sales these we XXXX, year guidance. again, actions in positioned of our fiscal midpoint annualized
out strategic organization stepping the we our laid ECS agreement vision are services another the the So structural $XX in the associated transaction. with reductions of million basis page, exit approximately from here, the at points targeting right-size back as XXX we transition as top cost to or
to potentially progress will the majority some XXXX. vast fiscal end begin through XXXX, of fiscal actions the we these by there be we and in as opportunities earnest XXXX completed expect While in
Enerpac improvement likely basis from don't have an longer we or are the we'll to negative that points We targeting of XXXX, back achieving annualized execution the additional of ability and also products. fiscal a points in optimization half will the operations improvement tail that deliver ensure of an to impact on a have basis our to commence plant XXX XXX project
to through basis we XXX collectively, footprint we believe end improvement fiscal points of and positioned are as deliver So EBITDA well all cost margin in manufacturing reductions XXXX. structural we annualized optimization,
revenues, growth. a So will our XXXX our that's path guide to approximately targeted an with in fiscal actions XX% compound incremental driven on by of on by result XXXX XX% based these profit being margin X% EBITDA
back With to over I'll the turn Randy you. that, call
