that quarter begin, add a reminder, the slides website, is on details and hope Today will to but our X basis to Slide morning Vic’s our I and thoughts I’ll results, safe. Good Vic. on as the and our to I Thanks, friendly reviewing available be everyone referring everyone of be first I’ll before I call healthy presentation.
Beginning were free increased share earnings, basis cash XX over X% expense results, million on prior $XXX Adjusted interest year. grew up driven the lower improved million sales expanded prior per EBITDA increased for share or XX% of first-quarter Slide diluted XXX% a reduced X, by $XX and Adjusted our versus count. year. by of $X.XX earnings and margins points. flow X% Adjusted
added focus X. additional cash Page on our we’ve Given metrics liquidity, to and
a $XXX positions with last than lower million Our of revolver result cash refinancing $XXX of up September our million us in million $XXX as availability liquidity. of is This XXXX. $XXX is million available our of while balance year, $XXX million
debt higher last dividend payments, repurchase $XX share and activity, Net capital by acquisition is expenditures, year million MRK. by driven of the than
X.X under As terms X.X times as net year is debt-to-EBITDA of the agreement. leverage credit times versus our the our quarter-end, calculated last of
Our covenant headwinds. threshold considerable have is X.XX times, so we
preserve prior In back repurchase million the price repurchased activity at $XXX $XX.XX. repurchase inception Since cost situation. bought million light to of of for average of the program, suspending liquidity X.X stock the $XX COVID-XX we to of the shares have quarter, a we of million an in
million remaining share $XXX under repurchase program. our of quarter-end, As we the had
Turning will in closed ACGI Fiber review a EBITDA XXXX. X%. headwind growth, additional acquisition, increased impact now and the to segment. provide AUV of X, details volume including year-on-year The Architectural I in March the when the drove I segment Slide adjusted quarter of Specialties Mineral the was which
continued by deferred the manufacturing incentive year-over-year inventories the equity aided expenses to strong due favorable WAVE were year. to our prior end digitalization earnings costs in quarter. SG&A grew We’ve benefited as plants lower Input from by and offset investments. declined our valuations at and ongoing versus the inventory get performance but of compensation quarter,
slightly delays result and was in the timing driven of were adjusted of implemented higher we've of a expense reflect of was million, capital year-on-year changes. expenditures result as the in expenditures down the refinancing COVID-XX. quarter was operations Slide our a to performance but due the XXXX. X capital Interest quarter XXXX. not shows as cash yet of working September distribution cash the WAVE’s Cash earnings. lower from primarily flow impact $X do year-on-year, versus Capital free by lower up first
Slide X Latin by Box quarter, Big is as was channel. in the Overall mix X% AUV Canada America, segment commercial and in negative driven sales grew factors. offset Mineral begins quarter U.S. positive versus weakness prior our channel year. volume our In non-product growth Fiber the reporting. later
wrapping we’re impacted shifts XX% good Vic both AUV that I quarter, remind and perspective, and a earnings AUV in year-ago from the and was strong geographic discussed the that first sales channel so up you year negatively a last period.
the products and see Within commercial from continued market business, higher above performance recently we acoustics, ACOUSTIBuilt. sustain our core total end including
once In the quarter, input price was again over inflation positive.
that than through will comparisons be given more inflationary the like-for-like we we the AUV normalize, year move As are positive, backdrop and once but likely of comprised confidence current price. again mix
million expanded year X% up prior or year. compensation expenses, performance was compensation versus points basis was Adjusted $X key year-on-year our program. including was our lower prior to from operations of XXX deferred margins manufacturing SG&A EBITDA due from primarily incentive XX% as the driver. Strong
as spending situation. SG&A not a reductions the implementing we now quarter was COVID-XX result the impacted of are First by
Specialties quarterly grew XX% Architectural segment to Moving million. to X, $XX sales Slide on
from quarter as earnings the looked we knew comparisons transportation QX our projects reoccur. large As call, that not last on out expected we benefited we in XXXX would tough
Most by On product as our wood we business have discussed, sales a driven XXXX sales of acquisition not of was sourced growth modestly. moved ACGI. up our we’ve a apples-to-apples purely but ACGI, previously third-party was is comparable sales basis, as comparison to the of this base
businesses flat the investment. offset was by sales acquired associated and with growth as EBITDA quarter Adjusted was costs continued in
in order to growth see and in our Acquisition and intake custom quarter premium strong. go the of AS well the product standard integration in experience continue our we any range and sourcing continues did not our portfolio We was issues offering. product
on you our X where for the would year. we guidance Slide update is normally
the to of the withdrawing lack nature due clarity the issued previously in COVID-XX we’re However, our subsequent guidance. unprecedented of and marketplace,
actions We confidence that also on replacing in XXXX. greater commentary past have practice and temporarily our of to control over deliver financial are specific our we ability in guidance with
all that to can customers, employees, we ensure communities the safety which our service our we will operate. support do in and of the First, we
service can healthcare are seeing We that taking offsetting demand projects to we ensure you're while steps weakness despite other in end-markets. the in
will Second, like-for-like our to price Mineral service, and innovation. inflation quality Fiber business greater continue earn than through
our crisis, decade, past including for global products drive innovative mixed to – the AUV financial and have during growth. we as the gains will Just financial to continue contribute
Vic strategic Specialties mentioned, for gain share for organically attractive as business and business will we The open will remain Architectural acquisitions.
first teams as we are will SG&A and operations and reduce to manufacturing continue demonstrated drive spending. gains productivity the Our they actions quarter in manufacturing to prudently taking
are we repurchase when it temporarily certain. Third, restarting to preserve becomes share to cash. program more forward suspending our the look We outlook
Our regular remains last quarterly another declare place our and just week. dividend in Board distribution
generation free to Fourth, flow flow favorability our XX% of cash free of below sales. to range every to given we expect of the element expectation cash a strong see in free business XX% this of the cash flow generation EBITDA, deliver margin in and
million range million implementing to the in expenditures are steps to million, We $XX of XXXX. a $XX $XX from to down Delay capital
into us to XXXX sale We've business. taxes future refund our $XX about we tax federal associated taking Fifth, to provisions receive accelerated our allow million advantage us a payroll the filing to million the of years. international allows of that also with of defer $X Act are of CARES
practices, Consistent exclude operational this cash. million will when of we with past discuss adjusted $XX cash it’s performance. said, we That still flow free
will flow margin. truly of that unforeseen XX% downturn we adjusted All cash barring give actions to generate us XX% these free a confidence a
adjusted Slide here past generation crisis. cash from ability in highlight margin investor the including our manage wanted and and our it financial confidence delivering This capability to to XXXX. XX presentation in environments, global our power flow our it informs cash XX% the I illustrates a clearly comes recessionary performance to through of free XX% as
preview to executed a related we risk we last pension of XX,XXX over billion of quarter, pension approximately $X moving as obligations retirees. transfer Finally,
expense non-cash income partial transaction, with and planned reflect our from million result is this adjusted charge a of This non-operating we expenses of recorded results. to noncash unallocated as as settlement. and other our this As we segment a recorded corporate component $XXX charge a financial in pension a exclude of
the did the a not not coming make have anticipate We pension of to as in the contributions do contributions any to and result cash years. transaction
pension our accumulated For and results million increase a of pension million benefit this loss, transaction $XXX in million your $XX our sheet balance reduction other models, re-measurement and in required comprehensive retained obligation a $XXX earnings, the reduction in prepaid asset. in our
These but times, are to have is succeed. Armstrong challenging uniquely that doubt I positioned no
other industry these value emerge to cash innovation margin and have the We creation model leading unparalleled fully side free brand, generation. of the prices our margins, impact. best We the pipeline, flow expect best-in-class with on the
that, turn With it back Vic. I’ll over to
