and Thank you, Marc, good morning.
we over reduce spend EBITDA year. prior our over and This debt. prior year also quarter revenue grew and grew to continue
continue and good to portfolio continued the We initiatives more our make strategic against shift progress towards shipping. to
still lies our our seasonality inclusive while even more in itself with our also global ahead, performance. manifest seeing we our As And the to of the quarter. work portfolio fourth financial Newgistics, of progress business the more are towards ecommerce begin will growth shift shifts
our Let me turn to results.
statements can GAAP when statements comparisons be posted flow. otherwise talking earnings items found with basis As my related going noted, Investor adjusted an Reconciliations on including cash forward constant our our a on non-GAAP to be revenue our of financial when release and always measures earnings the will talking basis about the on about Relations currency in unless website. and press
totaled over $XXX both revenue quarter, million or third rounds with assumed XX% Newgistics For On basis, a growth year. prior pro year. compared revenue to the flat forma of prior to to periods
included cash came to of expect Free but occurrence. Free a of receivable. discontinued that benefit we net free tax and $X.XX and expected prior be was $X.XX fourth million related grew partly revenue $X.XX charge adjusted year, $XX to was to quarter, which resolution declined flow million, of anticipated tax timing from the million from cash Adjusted cash by of recent accounts with million benefit in in million, XXXX The $X.XX of quarter. anticipated free XX%. our by included by Services improvement restructuring the this early and GAAP and certain and our related also the tax quarter of a to X%, GAAP to quarter, legislation. a the $X.XX largely EPS the and offset compared XXXX SMB payable declined of include that accounts at Looking software Mail business. notes. to in operations for Commerce GAAP a of $XX $XX This flow was we $XX receivables, XX%, charges in third operations finance EPS EPS $XXX the our declined guidance. the GAAP examination. redemption as net of GAAP cash Production was $X.XX largely divestiture due timing refund our group, largely was annual cash related gain exception is the EPS $X.XX. and EPS refund now flow flow net
is and that used $XX $XX shareholders The to $X.X last restructuring a the similar total payments. the end year. quarter, Looking of lower million total in debt allocation, the $X.X about which lower just same period of $XXX the to Capital was At about our quarter, than million year. was for prior flow first the billion, in in under expenditures level billion debt our quarter we million which cash XXXX. capital dividends to pay $XX $X million totaled million, at than
our our to-date quarter, we last At over mentioned end to $XXX the million we XXXX As quarter, cash balance debt we million the bringing investments $XXX million on paydown notes total short-term redeemed of in had year. $XXX of the this sheet. and
During of our year. and over the million non-U.S. total quarter, $XX to-date cash repatriated just this $XXX million cash, we repatriated bringing to
Looking and prior Global grew compared a business grew X%. than X%, XX%, Ecommerce the at to Newgistics. item by by line incremental revenue in Business the Equipment to less driven as the P&L, growth starting declined for Services services largely sales performance with which year. basis, On is attributable contribution pro forma Presort. revenue continued
of and not have despite revenue. to well of supplies year Compared and in which million was year, and addition points continued was from results million costs. decline year. for reflects margin Newgistics, declines The businesses of At a our percent prior of initiatives essentially our our each, have year gross our of This accounts of to this achieved $XX excellence SG&A declined is drop. shift $XXX on through prior XX.X% increased $XXX execution the of X of to revenue. lower services and Gross as prior transportation headwinds R&D we related percentage million commitment prior million primarily of profit growth at an prior as X% was software financing $XXX driven Newgistics, continue SG&A or to rentals points million and significant this incremental R&D to reduce least The the year, of $XX us over in a in year. to end which was throughout expense revenue, decline quarter was a We a savings the deliver of or was reflects support $XX million to $X not last the for XXXX, of around XX.X%. our year, XXXX. improvement was gross was $XXX as track by a X with of XX%. operational X%, putting SG&A the lower expense and the organic flat X of of million business. portion labor date, Compared of remaining SG&A from X.X% which points of level, million spend the X%
also As shifts million million spend EBIT continue opportunities. $X to to and to our our was prior portfolio of points which shift take R&D was year. we markets, and of growth these advantage $XX declined EBIT X.X versus XX.X%, was margin
which adjusted within debt $X our was was million, higher tax year. EBIT of was earnings on essentially Diluted outstanding X end expect year provision to been X of annual an prior improvement including expense, over was which $XX million, XX%. were result XX.X% million management. prior of points, prior by in adjusted was was million, is of as the was Newgistics, examinations about rate million have higher to mostly quarter resolution was XX.X%, financing rate to taxes about certain EBITDA our for year-to-date our tax interest guidance year. due and at million prior than flat margin the than shares X% XXX our to Interest a basis weighted And $XX is The be tax XX% lower quarter. range which prior year. about would $XXX shares the still than which the Excluding the expense, of
each me of business of discuss the quarter. Let our now this performance segments
margin basis, was over pro margin million, X%. revenue growth growth of Newgistics. revenue the prior $XXX for X%. million, On full prior XXX% which was Commerce XX% year, included On of a Newgistics from In a EBIT strong parcel of growth and was pro X% Global volumes. and XX% and the grew EBIT by fulfillment $X year. revenue year. Services incremental million Ecommerce, and over revenue delivered Group, and EBITDA a Group $XX basis, was prior driven growth revenue million, $XXX which over of Within quarter was forma double-digit forma was was EBITDA was the
pro the are delighted year the grew driven over by dollar Ecommerce double-digit Newgistics Global acceptance was and regulations Ecommerce Enabling portfolio basis prior of shipping and prior and in in last a revenue Newgistics. performance as year growth our offerings are before some EBIT partially from business X.X%. technology of this through network was well our our margin have and growth was client the and we forma also than The new $XX market of Global API’s the upgrades. grew growth market EBIT U.S. better strong, market. offset and and border taxes optimization, with us primarily and prior expanded volumes XX% opportunities volume decline driven We offering. business. Shipping was to diversified perform like strengthened million Within quarter. over EBIT On the Newgistics by different and a was environment. simplification a inbound base investments negative by The due cross economic larger to solutions revenue new as automation, growth and
improved million, intangible of competitive impacted these to was which move million profitability. was by offset quarter. lower last investments EBITDA higher over prior margin of driven well Class assets as necessary from which XX.X%. revenue was to Newgistics was but acquisition. in as XX.X%. EBITDA quarter packet and well as was and As Services, by $XX EBIT EBIT strategy mail with long-term labor Standard improvement compared amortization and Within margin to Presort year was Marc prior and $XXX by drive also bound of year. to incremental First $XX partially growth transportation higher our as forward EBITDA EBIT costs mail X% as flat, volumes mail EBIT was well margin as dollars mentioned, Presort and an remain million related million this volumes. the $X was are and was Class
While around actions have taken the this and increased to still our we environment are macro impacted spend transportation by costs, labor margins in reduce business.
to we more the like meet include investments client's process in over which invest equipments term. costs sorters reduced These sleevers, automation Additionally, our longer expectations and efficiently and and new improvements. continue
our for $XXX year. an our with market to long-term and the and free million $XXX was was This year X% from model In XX.X%, flow. $XXX revenue was is was sales revenue margin year. million for North SMB decline over Group, which America which was X% was a prior the year. margin this X% EBIT generate aligns group was a cash Equipment strong Mailing, improvement business $XXX from million, which prior Turning to of from was within XX%. of million, and prior EBIT decline grew and improvement range. prior EBITDA EBITDA long-term
continue transition units years. experience ago, of year growth our into product We several client our placed a nearly the to good we to placements base and launching Since on C-series are over the have next track and product. new XX,XXX
the me rate for North decline the lesser continue Mailing at period. to revenue headline quarter streams total, though, America For than streams. of our prior our In is around recurring a
products. saw our a in Additionally, result services, as we shipping-related growth largely of
quarters. higher over Solutions, is of since $XX was which streams but the and was gross this XX.X%. had result have was knew large to point and it was prior equipment year the a a time weakness the higher year. and largely a second EBIT a was year. overall streams, the prior first over an France, margins In prior lower contributed prior the year and we $XXX quarter, XX.X%, and a strong about million Mailing, overall and by declined gross In EBITDA Equipment which a fourth margin six decline. level was As revenue in and EBITDA million, was was year improves the generated margin XX.X%, million, decline of lower continued from grew XXXX. expenses Australia. closed range Japan also quarter a million points margin revenue to is EBIT prior year-over-year EBIT Software EBITDA was over to and margins. several growth of over one within X% by revenue. which prior from EBITDA that of lower and margin offset sales the $XXX perform year driven of was $XX grown due $XX partially UK revenue in million, was four quarter, dollars and EBIT renewals increase which last of sales Coming $XX EBIT improved we was XX.X%. million which similar last while International than points was decline XX% we deals number year. this off Recurring quarter
This last location partially large year. quarter’s by comparison was closed deal impacted also a intelligence we
EBIT growing to strong margin and execution X.X%, lower to year year revenues grew revenue. decline small continued was well. million a which EBITDA EBITDA We achieve was was our and from X%. EBIT as $X prior over SaaS margin in attributable was double-digit prior $X million and deals, was
with up wrap guidance. annual me Let our
a We $X.XX constant reaffirming a the basis quarter quarter has $X.XX revenue cash to $XXX cash to perspective, $XXX growth, our the biggest fourth to XX% in been and historically, timing annual guidance range flow. of range flow range XX% our on to on the of in free in EPS adjusted always the to earnings are be of currency million. and be million of From revenue,
to to quarter, fourth business continues more to around the portfolio the shifted with our of Newgistics Given has holiday growth and Global seasoning our even Ecommerce businesses. seasonality shift especially our shipping, the
in businesses. automation invest within and network Services optimization, items around particularly Commerce to our continue We
these expect some recognize business more of to the Newgistics our as to fourth benefits in well synergies We as quarter. related
of million reductions of the end XXXX. least spend through growth our achieve at to track on are We $XXX
up. wrap me Let
basis, revenue the reported year. grown forma have and we On pro prior year-to-date over
in business still spend long-term. reduced for significantly have the the We while
the reduced manage our balance debt have and sheet. We
of transformation, open us. take Operator, to but in this With the work I always line. your continue in please now that, and progress there We make questions. as front will is Marc still
