Thanks, morning Adam and good everyone.
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After periods, expansion results. each and profit, excluding margin expense gross improving the containment percent terms operating segment gross QX seeing for our near is margin down comparable focus both to level, revenue severance strategy is the at while are due dollars dollars QX In delivering previously on margin cost XXXX percent profit, of gross profit of compared or steady to the gross segments noted, ‘XX. in declines gross in
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for for XXXX. for will – dollars XX-K, the this the XX.X% XXXX was profit of in on severance comparison policy gross More XXXX after PTO other and versus details included our for gross are segment percent of PTO section XXXX XXXX skip I and and by change both Slide XX.X% XX the call, our periods, versus MD&A slide. or down this change While excluding are policy margin
however, as I on, move provide we insight XXXX. to forward Before look want little we to a
As you we outlook Adam, for about from are XXXX. the excited heard
to clients well into organic superior expect couple company revenue going the being regional that come as forward. we ability to translate focus strong play. XXXX and growth leadership to team Our With quickly, that said, I and industry of balance to QX to as deliver sheet services look we out talented a XXXX with want scale GP’s bridge position, factors from revenue, point into our enable QX as that to attract
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returns Second, profile towards as Adam that mentioned, more revenue have historical we expect a our quarterly cyclicality. XXXX to
unimpacted by excluding around are XXXX decline revenue from our This time QX was pubs. periods in for material to which X%. COVID-XX, the through average at QX is acquisitions historic XXXX, Looking results or
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compared costs STI in XXXX We will potentially higher XXXX. to book
a had and QX a were in AR for cost of of $XX.X $X.X is Moving million for was decrease excess and $X.X that Sales of to that million insurance G&A SG&A The XX, million on the reduction administrative due legal foreign credit marketing is a the expense expense initiatives, which expense settlement primary QX in ‘XX. gas reduction expense, Slide the had as of general an ‘XX or bad since QX expenses was debt amortization to which for deductible in dispute on final million, and QX in from an primarily a a reduction expenses balance and due related to write-off are down which million to and decrease oil refund. ‘XX, labor related reduction million of XX.X% ‘XX. bad XXXX we million, debt $X.X with large million a to $X.X received $X.X one-time a of been divestitures, drivers QX for in $X.X client down QX to $X.X compared
on transformation just which restructuring as a XX function on and a to few, in relates Slide charges at QX other model. within Moving within to increasing G&A to P&L aimed million, initiative efficiencies items well touch operating our $X.X totaled upon our as
XXXX initiative this on QX sale mentioned, rate in of to business of IC sale based is IC several The $X.X sale was was decreased mid-XXXX. Management gain There of by business versus impacted the in the discrete items, the effective Axon. the rate by be for Adam Tuition business, including in QX tax sale the of income the difference by As Axon a QX of This was on XX.X%. for completed XXXX expected XXXX. accounting million
the tax XX%. lot for we rate there rate, forward, As XXXX, a that the are tax in could of neighborhood look we impact of while variables are future projecting a
in up for we million, $X.X reported Slide $XX.X in to was per which adjusted year. which earnings more XX, reported earnings $X.XX, QX last for QX EBITDA EBITDA is ‘XX. $X.XX than share million items, per the Moving special reported after QX summary the QX we from is of on the adjusted share adjusted on Adjusted earnings for adjusting
on adjusted can For of EBITDA, to and EPS appendices at the the presentation. end details you refer this adjusted
a payroll balance QX flow tax Moving on has A deferred year-to-date $XX.X to year-to-date of through note currently a million all XX/XX/XX in sheet and our sheet paid relating that as net payments sale to deferred $X.X our to a come $XX.X serves company a of held on the that this was and drivers will and pending which sale decrease XXXX. was be million, payments million some $X carve-out decrease $XX.X wind XX, of totaling is point when balance which the down and cash comprised liability I in rough are CARES relief, intangible one as would for out other business are $XX $X.X million. performance cash that sale for operating liabilities million One flow is asset XXXX. million held for item tax considering XXXX due and Slide industries. non-target assets for the The is liability has due COVID Act is other million. the mostly remaining
Turning QX and due cancellations down LNG backlog the this to XX, the backlog Axon was $XXX.X primarily backlog of of business divestiture be economic that of compared decline or of XXXX to COVID-XX reported million, ‘XX. IC reductions, is the as The backlog $XX.X decline the the attributed for to in to on disruptions. million $XX to Page was XXXX. and is million QX due remainder which can X.X%
fact of over the This exceeded While positive along backlog million now of update. Adam. XXXX trend notional company with XXXX. leading is views XXXX turn up the to backlog months I’ll of call it our that the QX XX/XX/XX back a backlog as XX.X% indicator, our year-end concludes the that metric financial is the QX or $XX.X more a metric
