Matt. Thanks, it I'll take Okay. to. back
move X, please. Slide Let's to everybody
So here the talking seen The I'm down. gross quarter, quarter, about EBITDA profit million also quarterly presumably. -- $XX.XXX and results million for XX.X%, margin which sales you've gross way second down, $X.XXX obviously the
during -- $X.X conference was you about to XX. told million would would believe So happen first million EBITDA and what $XX.X $X.X we we to estimate let's at we our call you quarter of sales estimate said million. We talk or million that a gave happen what $XX.X July on
to range, shortfalls sales and EBITDA end forecast the the not is the and lower of shortfall the the line, shortfall okay, $XXX,XXX. both bottom is middle $XXX,XXX the of of So top lower end
going and understand probably to you for are discussed things get details past. the multifaceted. These be would a we go some we're it also this helpful heck explanation as of if explanation So happened? So, mentioned to what complex. -- did X, is as question the in this the obviously, go QX? the some with It's think I to the at already in happen? And perspective. because the into What I've Slide haven't we happened Why is beginning
please. just to with bear So try me,
later. That's same challenging was before, to We've discussed in and year, pin the of that picture December the QX some year to a support. want this fiscal here with Why I'm start background a year, three just you for little for last background nine challenging I and very programs and perspective, giving you very, to perspective 'XX demanding ramp the times in in for this of -- first okay. programs a sales January months we to you customer steep but GE/MRAS remind and trying by quarter February don't a and very that sales the it's of for the difficult just that
I but We we do the MRAS. QX force, and -- ramp difficult I have that's to more operate customers. as get to done. systems especially saying such not are than us way, to did ever with customer didn't for I'm if we they a MRAS, that mostly also ask, handle. that we with level, love they place the at love point. -- really -- clear, disappoint the So but anybody job be want customer. in demanding really much it in But it difficult we did asked that huge a them We We and in fairly not bad what a brute other had
not in So, that disappoint you tell put in period, we're and lot the now. to stress nine-month fact, got ones suppliers exception is ramped the rule times that did a we I lot they because supply chain I on right a but at pressure are three the during our system, the of a think of and there
at are supply chain They in have time. real aerospace real challenges trouble managers the for some because keeping ramping very causing the up are industry, that this and programs steeply of just
brute 'XX, a force quarters to brute We're of and of that QX QX QX year process the in force from then transitioning this now. we're fiscal sustainability. reporting year, are more
can't not guess. is out, of brute and of people some progress sustainability. transitioning important it's You from painful kind yet wears in We're force do At made. so I terms force brute being there forever, just point, to
little QX, we burned I let quite now true, efforts just is a down and maybe our think, I which the don't for disciplined are in QX and force brute know, that's my sure. perspective, little slipped game a bit. I bit, back that's -- if to little heads but in maybe me, that's think obvious that's the a is QX got maybe we maybe in out from this perspective, my our
think X. had got in attention sense we've Another got the -- make worry, on And well, to the thing we I to Slide quarters, complacent few that a practice don't of about making we weeks. last few QX will last few bring QX and and rolled it we I your want so into particularly This quarter quarter weeks. is the last this
again the I've just words, didn't in next couldn't behind total for we we but through the push that few get doing got two quarters stops end used quarter, the other production and slides. shortfall in burned sales weeks. we everything by changed. And see a the will It's to by a comment. quarter we the the In see coming last QX few up bad quarter, in even over to making the anymore. and prior were shipped because We're any reasons didn't explain catch EBITDA that We of we last and the in QX. These we got not weeks even few practice, of
way learn, hard guess the learned -- even think hard it's good things though some sometimes I So we one way. us I a we about and thing but that do is
the Let's In bear this, I be Slide said, move X at with to complicated, obviously to is like questions please. be and we'll going but me fine. end to try
revenues big to and anybody. a is obvious thing our obviously not is report just We this plan. report that reduction profits. so We don't Okay,
our million produce QX, in product produced was we plan that $X.X more QX. actually to So in
So that's a huge, huge difference.
our restore said target. we we sales think I that
on or our go X, Slide Let back think million. I to objective $X production we by almost $X.X and myself, me it's $XXX,XXX, by missed target check million,
Now shortfall that you obviously had impact our on production sell because also it. sales, can't
first The the first under item checked arrow item.
mean impact. QX obviously a I 'XX that's just line negative bottom had fiscal the shortfall sales pretty straightforward. So
from an But it's is when the significant just I that's forgot to impact converted the when what to line inventory is product was it the you it's values. production $X.X drops -- This had line bottom sold. shortfall. the say now, inventory. impact some when to That's because shortfall distinction It's should is obvious a I the value, important anyway larger produce but of product, from mention. the product to bottom that sales until production value in -- million, not
to course, So, question next let's go that that arrow And well, of the How happen? next happened, item. know? is you why the could
So that unexpected and QX, -- were And Okay, why right. shortfall all production events there by the in us and events unrelated discrete happened? said what that I discrete were just significant three caused processes, I our difficulty QX is this little I have a explain and and our we a to that need materials before. bit in us about think where raw significant discussed some of
operations widely aid, applied to we the need customer -- prepreg product polyurethane film to when understanding a but to used and detail, up I a go Normally, reasons of of stabilizes our the rather, our but also industry. in in but called and which from of to it's approved There what purposes for of go transparent, manufacturer something is into it's product by is itself happened, actually used through be use a kind prevents it I sticky. don't our that's process. customer have this. product for the this we because in it's us It a as There and are rolled polyurethanes materials prepreg think as used in to course, --- think roll, sticking on a surface. other our It's applications the film, it's to real objective,
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its automatically Now call original machine, have you manual. poly applied the fully process in we but to the on very is rework the poly when --
to and it of a take manual re-poly, this to have rework You product. semi out process it's off kind
example they of, QX. down an in mentioned let I'll terms in Now know, little give you I that. a you of bit
solid worked for other applications had used well. we this style So poly very that other
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do the wrinkles, have we had you because we from enormous didn't we back. it and customer an to and got got got call done and all say product we amount So we burned of send
we're the now doing okay, So, rework.
a they just a a you the choice. was is of Next make consuming, but the one, got lot this labor no also the but from film factory. from do product issue had revenue in labor we've it. it pay to that to issue, serious that time takes is supplier unrelated, we revenue And ship a we polyurethane with realized We fixed it received realize customer it, polyurethane very rework, to that right, and sell, to for what, not have again it enormous pretty generation, when quality rework. is film. our guess producing product, is ship the and get only supplier, It of thing how labor a not again to back, amount different quality didn't we This our all own to
it. A we again third and noticed program that quarter. well was of that carbon distorted unrelated we toward the item, is fabric an of end There we received the some for MRAS use which the was couldn't had as
to to weaver, can back So send the so rework we had it. it they
have but needed quarter. Now, our we the the ship that didn't produce fabric we and product is wasn't that to the that within carbon rework, problem
be short quarter quarter. conspired because production explain So that third they three me in the all thickens. against the for plot and is but us are events, kind to of cause significant that difficulty unrelated also for terms as why caused let These of us discrete to
limited availability weaver. is carbon other fiber MRAS not we'll Next that words, our forecast, carbon the in check carbon forecast. supply this fiber says, suppliers supplier, program to item, okay, fiber The
we all have a We that's fiber carbon because shortage. but to extra, there's forecast, not pound one got
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So up we product, a send and look, more fiber. have This problem. could no you There us can say, we fiber. them is call more
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it time. happen So happen time from things the wasn't wasn't problems in when it so much in just they system. normal stress these These to might a quarter, happen,
leeway. we're in of events a tightness terms the saying, all. no would this therefore in did couldn't been point, fiber exist, item You probably positioned and those we system, it. in to recover those and is conspired on being key things you if and together, two not will capacity never be not it, against in system a We hear the we much recover both we them QX. stress of I about supply, about last better we limitations the discussing -- terms telling because our certainly have page, at had of in of was way this in stress and the might also the carbon as the so But because And
So, X. okay, Slide that is
just related to produce is of X, to review used Slide it labor into and have that polyurethane again top film, a can to bit Slide rework go from. major get that's that continue in we On the for products This Let's kind labor little expense. to this we revenue you resulted X not sell discussion. of significant being so and pay
production the just consumed intended kind cost $X at approximately million major to and the the a major to the impact to bottom to our the something bigger impact it purpose workers production shortfall, line like workers And impact diverting major bottom are quite impact. our was value has in do with production wasn't production which million, So course be rework the to the line, done. had rework of of is of of $X.X shortfall,
speaking, suppliers. good well. very just they want normally support blaming clear, pleased we're our I feel suppliers. good. with be responding to we're to they the our or so signaling dedicate And to issues suppliers think are arise. supplier, not our our we out are We very are best and us They of Generally as They abilities
about them. second them happened, this we the normally So with they happen it's to I of second in happen you It's as the blaming the now, is things not time. time to but quarter what not because deal more just suppliers, from that about quarter, said happen in explaining these
explain like You explain but what kind happened our never of impact had hear recover, to was some dynamics issues because the reach, much I to the line, proper about believe in like bottom said, wasn't allows but them and for us hope had since this a however, major is them, detail, system I we the QX presentation I the to thought highlight it detail, significant case here. since in performance, in us appropriate too it and it infact,
composite is done limited for So expected. materials significant ongoing more continuing of Engines. manufacturing Wrap capacity of GEXX trials story, manufacturing to expense that, utilization we on support hot-melt EBITDA we've Containment the This for than
that the a program. you We we've next GE is of agreement part that required long-term this to the program year, not an not much the for as not extent our before. part -- this didn't discussed program. And that MRAS you with program at of how on understand effort it's trials that of were but with It's program, is We've end MRAS. POs program know,
I instance. then the make later in is will that. but we'll not POs you to XXX just program on. remember have into or sure we're going what guess, go So same return the the term. and to This we're for want Boeing the like that AXXX year index happens, that long categories see not sure I
achieve our Slide inadequate our item execution described nevertheless. X, Anyway, in failed created QX. we issues sales to on was obstacles production and last above achieving The to but our objectives objectives,
you job I our do here didn't either. So go. we mean,
maybe we are back again top are straight did if a switched good said an game, we that, when think I news screwed heads game. heads our But where bit, example I that totally our of to slip game. little and trials, in in we're our not we're done polyurethane is As gave I on on back the style, the think film the have should good. I a we some wasn't back
be not that think okay or in I'm the if you our surprising let's issues, efforts -- the review. little people it's months probably down first in I some is production, a XX telling brute and then let wouldn't of not but cost of EBITDA trials. making of surprising if Major six bit, about maybe force Look, excuses, rework the reduction think lots it production that happen.
So, impacted of major more those but I line, the are the that thing the some EBITDA they billion or think X XX things. are bottom are only that
capacity manufacturing this, felt now topic on because another saying go we've probably -- available X. been on extra capacity. to hear you're until let's Okay, Slide and Hot-melt capacity complex surprised we we constraints, have to had enough we
in facility Kansas tape, hot-melt to purchased and film aerospace in our we on they we of these were if said the Of it. that the product tape here? in are lines What's let's separate capability that web you when So two of machines, that's composite make width will XX-inch and course, Hot-melt web, Film original and going machines. start, believe lines, did we XXXX. the these
automated so and parts were MRAS, for specifically composite that's embracing. going making lay-up. is AFPs of not composite a the like materials. makes of for production placement, robotic AFP. so designed parts This towards important it's of things technology sense. methodology manufacturer, lot a AFP companies AFPs every hand as future expensive, technology more it modern for producing the not like to for but the compared we're for more be trend type larger Very is methodology parts and the to fiber composite We're
this a know learning those and were don't original program. years. equipment designed was even not lot we've the But AXXXNEO of XX been program in lot factory but about we over of from any we bit hindsight. we and and what, optimal, really mistakes and of said work and last think I AXXXNEO Anyway, did original hand back a Much you of event, the for knew the of There's a much machines AFP AFP been XXXX, the lay-up for for AFP AFP. the has with design original made lines these not converted before
work think MRAS. past, with did I the indicated the in we development AFP we
there we So for the program and but Every we've material got material difficult us. is the with worked though been for for AFP different has have on the and program. ground GEXX well, GEXX struggled more lines floor very that's XX-inch
upgrades look much but say, it's product fortunate the the effectively. was line the film is you shifting we because line AFP haven't these, hot-melt to just the produce but material it not much, but don't you we So but our us allow film to just the of what Adhesive like we're even -- we for production used unlocked, program may for it we're and doing prepreg that XX-inch recently and our the I Film those lines program the tape materials more GEXX GEXX very for know and prepreg, XX-inch AFP-style upgraded have very
the lines. for out that to want So materials the It's involved with important we very the that AFP technology type want you point much good GEXX program specifically of not expansion -- want to tomorrow, Matt use XX-inch get XX-inch radar for of yesterday. lines I we're just the that is very XX-inch embrace not I to about, that to AFP produce a in lines, we're those the process we the That's AFP on don't the because our screen were thing. technology, it from designed our part materials. the just and original are talked lines to new XX-inch transferring nervous
Slide on X. Continuing
material bit slower appreciated the and with materials hot-melt, we and steep driven And good requirements normally Now aggressively in the kind and generally process getting than we're additional we're manufacturing. sorry it not of a curve manufacturing that's that's time last operating also months. story AFP that, we is for analysis, when some and manufacturing material program line. Last yet hot-melt or AFP optimal said, had hot-melt by we've adjusted a still capacity we learning we so on fully we tape learning and have AFP of materials been regarding but narrow thoughts principally through challenge, require a AXXXNEO capacity in attack concepts pretty we significant We're and broad item efficiencies X. set-up a our Slide ramping few learning our did of not like little have I fast so AFP aggressively. -- as the we're productivity gone use our that as go The
Going X. on Slide
a fourth shifts. So the in open manufacturing implement hot-melt of and -- relieve capacity, got we've tape well we couple order line as our things to up
XX/X running basically now. line is tape So the
process least tape transferring say, open GEXX are operations at and now right mix support other film of capacity. required tape XX/X and hot-melt up shift structure to and the line XX-inch GEXX but And The we're film right like program. to at not program in the to go that's support a as also XX/X, to I in also
obvious So capacity? our what hot-melt is manufacturing question, current
based is -- indicated that a upon with was We some little $XX million X-day work-week a overtime. overtime previously
line, the XX-inch the on capacity million, line. not the XX/X include our but the believe we with capacity tape shift $XX -- does structure that is now With the from
plus four line. capacity shifts extra is transfer that's the $XX in, to course is whatever number GEXX XX-inch the believe and a from get to from the XX-inch we once the get we plus million settled million reasonable of available line $XX the and XX-inch So line
I'm is I thing of AFP sorry, capacity, mix less related, the So should have impact is there terms a -- it tough factors different of upon AFP capacity. say capacity, capacity an will product of kind and is more in that because lot a very, very we mix reduced feel other the increases
question. obvious So
Here's the fine. will answer. believe We be
We take other seve the needs to opportunities, on expansion MRAS and have enough to until comes capacity to serve needs, online. our
As to the next Matt next said, we plan have about rather summer. -- summer expansion complete
I still the then time then year summer probably qualifications to about -- think it's summer and next for it's MRAS. from done get a
Okay.
move me Let's on and also with Q to those the complex capacity Slide issues XX. Thanks two the with for questions. bearing the fact about
XX. So, Slide
forecast. we're Now talking our
So let's call. when the same QX, to the bottom discuss But the [indiscernible] believe this we first did same that this revenue. that, we to million. conference $XX.XX is of 'XX, $XX.XX million QX I are gave that's $X.X -- fiscal million we for QX our numbers fiscal million you $X revenue down EBITDA brought those quarter to year, line
QX, of the and for see is the is given $XX.XX $X.XX QX we've $XX.XX to revenue, this forecast you just about million million talk time $X.XX the forecast, QX EBITDA. let's Now, to first million to million
-- the by QX, planned we maybe of ship another right, QX. $XX.X end within $XX.X QX, you QX, to shipped Just on we -- have either far have book the give to a means in to on books million. book what to shipped our need and in that is that or be have we means to been what scheduled perspective we $X shipped shippable That that got million so million
their to that, salespeople need We after hit really our okay. be like but that's it, challenge, challenge. hard that's our it So
than thing we And probably that or de-booking happens. things just like to is a a often we push At little it out you've need that the very because be from of that. want you also to hard, is is that there want So bit out hitting a getting been need I or our customers to more little mention quarters plenty bit orders. there something end calls get who that
what's deal. doesn't pushed no got it's from want We to careful mean I'm We you November, been have in it something our we push telling be just booked, a because will be customer a month. to So big out. call
not but to a deal them, big Well, next quarter. okay, our that's
happens happens. it It often. So
couple for happened the it's think last I quarters. of
So little cushion, we and be just for you on to bit what if have of need that, mean. a ourselves a I guard build we to know
the numbers with for Now, we well. QX the EBITDA revenue EBITDA as forecast, are numbers and you we bring there why prior little was lower the QX same numbers gave do down for
seen haven't You and we've yet, down. but internal had QX them we QX numbers brought
So that at affect EBITDA the all are them. There let's QX. QX of for and look number a factors profitability
that's So, Film development GEXX carrying let's and that we're trials something development trials, Adhesive completed. as that's that relate and not been mentioned carrying to An program, that excellent big manufacturing for not for with development expenses, that's them expenses, excellent over. product, QX, all. already, costs certainly done, over not done that. through testing manufacturing discussed We was Outside go which new you factor a actually, is has
that mentioned over. QX we not as going I did our think when we call carrying for that QX, with a factor
it narrow web, hour to product additional less next it's the needed, what's related you're yet, dealing line significant, the costs The that's how what's with one, more per just if or with XX-inch surprise. per hot-melt want simple it's no the it. there GEXX it's AFP getting but right, rework though of up done not operating so because at differences ramp significant math, out polyurethane Continuing for is film, minute expensive depending we're you're to you that manufacturing cost look
we're struggled to rework, talked these fact the surprise three with and still second the us, few our that it. were about we minutes issues expected surprising since ago not not But deal a them to we it's So issues as to -- all know quarter we with were about we us doing discussed. the and
impact take bottom So gentle have count a surprise, our an the line. unexpected. not and had on forecasting, it's just planning we it can It's on our does
-- the then delivery push schedule program. and there's So of out for GEXX
Obviously, that's QX and next into and out over QX and bit for quite QX going of a that's year. pushed QX
account related still into the company Those -- revenue there. to the going to our taken and prior costs we expected that's are are Those QX. into causes them electronics. off in sold costs there's forecast. hole, Legacy continue company, that So to we've top tapering something are line but before
So there's a a lot and forecasting terms trying QX of QX. factors realistic took our here, in be which and for into we to EBITDA of account
important go our stress XX. today's factors in last much there's of to They're and on talked let's quarter think the they're on relevant -- remember, Okay, these about a very We where Slide to very lot world I call. system. to in
company our MRAS/GE ramping engine be major a that to is ramping, all, BXXX-X an are development. the reason is So except jet there more of Anyway, or moved first programs when right. will is much more much chances to programs, issue that's program it of risk all because the in
You a have it'll setbacks go many in forever, steady are not surprises. go slow hopefully ramping and and When with it as are too program development ramping, in development, setbacks but gets XXX There chain. supply sorry you some is or there issues down.
a page be of of about were the in the we XXXX, a key programs the of at there's or ramping. on talked was the talking and are that lot system, most shouldn't push-out shock, GE not in Aviation we're development So program the example on a prior for that because really risk GEXX programs And school.
the information, don't some so, all things do is push-outs program. been reported that. as That's about we reported about and delays school, had publicly well. the GEXX not have These I'm news delays public talking in the has in This program XXXX
very of chain. aerospace severe and in on I discussed item in the real before. industry. supply It's our just -- the it terms guess stress kind We working a on of industry factor day-to-day has palpable Next existence that
but one, is and is item the production recover fiber tight presentation. in supply, the setbacks. there it very we difficult and little or The Because in of discussed this new manufacturing carbon to supply previously capacity system, last for slack making from us leeway
puts the it heels So is it in recover happened back and there we with some don't to our but and you was if quarter, so at know quickly, risk, us anything doesn't deal in terms quarter. effectively if there it how know impact surprise, this of on
Slide to Let's go XX.
we've forecast long-term and we fiscal update so page too long same if Other in long-term probably should not actuals, both you 'XX we year, and current. have figured have the second Now, we're so the quarter you forecast, we EBITDA QX questions forecast. coming that once term update we that them on this January for the gave will -- know. our up, more of quarter 'XX, We forecast we forecast and us sales January. that for in QX. this our no something it's you the change you The just the presentation only rather is this than gave is numbers, to And let have long, is in just this a using reason practices this forecast that than fiscal really about, to first it any done prior let's including stick there kind add
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Okay.
that's the presentation. of end So the
if still long. Operator, your shareholder Everybody, call, it we ready are audience. the questions is sorry, went anybody so on for the -- from
