you, Thank good morning. and Marc
results you through take start overview an the me providing details then of XXXX by the by of will year guidance. followed full Let our quarter. I fourth our
website. related unless our can be going in our an press items when Reconciliations Additionally, and earnings statements basis cash including forward release when GAAP the non-GAAP constant on found noted, otherwise my will schedules on Investor to currency earnings posted with flow. comparisons and all be measures of talking about Relations adjusted talking basis revenue a on about
prior annual X% respective prior This EPS full our free second year growth adjusted year year. For of pro represents of performed XX% basis, the of over ranges, forma which $X.X the On and flow growth. grew represents consecutive revenue revenue, revenue cash over a within revenue results, year. billion, guidance
EPS the was XX%. GAAP at was was $XXX represented Adjusted and and revenue, EPS was revenue, from Services composition Free cash our was Looking $X.XX. million. XX% to flow operations XX% software and roughly Commerce cash was of while SMB $X.XX $XXX overall GAAP million
uses pay our and shareholders. capital the paid payments. Looking use cash million million to to free cash year, restructuring year, in we common our of at dividend the for We allocation $XX for $XXX flow
which year our we made our quarter investments reduction our and Through year short-term and automation, Our the our million million At and long-term $X.X on million the platforms The capital prior expenditures in went is repatriated XXXX We $XXX we with had first facilities, from cash balance which Through end, debt. over year $XXX majority than overseas. million. debt totaled technology, sheet. lower we of level. of year, in cash to and in $XXX existing year, from end ended $XXX the totaling reduce new a billion, products.
of the In quarterly which details Let $XXX quarter. and free year, adjusted EPS me X% flow you $X.XX best million forma decade. grew in Revenue delivered pro quarter, through the performance revenue of over the cash of take $XXX revenue, million. is in prior fourth now we the a
which in toward growth markets, growth to experience this quarter. the continued shift We in a portfolio overall evidenced is our
As to Commerce of quarter expected, the Services. year given on the the our season contributor capabilities of the and fourth holiday influence largest become growth has our shipping the
XXXX $X.XX and included benefit $X.XX, and the to million On tax $X.XX in further the $XX settlements, in in adjusted of $X.XX GAAP basis, was $XXX restructuring the quarter, for $X.XX net over prior and related was quarter, year. increase For increase legislation. $X.XX cash an of of prior cash a discontinued charge cost generated million flow was which a pension Free interpretation over EPS operations, we $X.XX transaction a for operations. was year. charges, EPS million GAAP of a which was from $X.XX $XXX
million $XX in million. and pay dividends to flow for the restructuring was cash quarter to million free payments. shareholders used in CapEx we quarter, the During $XX $XX
Turning prior to with as the P&L, item to fourth the line performance year. I revenue by will in start quarter compared
and year debt. $XX of $XX in to provision of shared the XX.X% on end from equipment higher and by weighted $XX associated examinations points to interest or XX.X%, mix financing X.X increased million and Software sales XX%. year an year. last EBIT despite was points XX%, Interest our million our of million. and points cost prior supplies In million about was X of million services was declined with prior The the Services higher million $XXX million we and our from SG&A quarter in by by in cost or of tax $XXX grew able by decline and revenue to X.X% had lower was improvement Business profit Services is X%, expense, driven driven investments X resolution along prior of R&D grew from $X shifting of prior point Diluted of X%, and a growth year, XX%, improvement expense EBIT which benefits which financing the was revenue. million revenue, million, year. pay-down revenue prior SMB. of continued $XX spend with labor was our for a the than which was lower spend support higher we including than Compared was the X at of year, with expense, rentals margin $XX XX.X%, over and year was grew those is quarter, revenue services our X%, driven are million. was margin $X the million which prior or expense tax R&D which of was initiatives. mitigated transportation an year and of declines largely and SG&A prior of XX.X%, $XXX Commerce that Gross portfolio. X%. million recognize approximately shares $XX were outstanding about nearly adjusted rate $XXX earnings of due reduction taxes
economic was domestic $XXX now discuss X%. Global enables us of which of quarter. like was EBIT revenue XX% Group, growth over and environments. in the fulfillment, E-commerce, diversified and E-commerce, perform me the our EBITDA a year was to shipping Within growth for margin our was Let Global revenue each which that long-term Within the through have offerings is of our fourth we Group better different EBIT prior the client million, Commerce segments solutions, rate was over portfolio million, and was XX% and the which performance EBITDA was base market above $XXX was parcel, year. in range. $XX X%. million, prior margin And business Services $XX of and million,
and delivered as Throughout volumes year, volumes network. services expanded to double-digit strong client up domestic growth and ramp in through Our China. fulfillment we parcel our significantly our the continue base
are presents a good opportunity. We clients, which traction great seeing these with
are have clients that meet we ramp-up year’s growth In expand strong that is continue client more delivered APIs able our addition, the we products services in Also, service within delivery accelerated solutions point to a contributed Global their our last proof This and in have E-commerce, volumes. we doubling revenue revenue than solid for and the requirements. volumes base, as domestic shipping who shipping to to growth prior EBIT offset million, want a by EBITDA and our to negative largely larger was inbound in strength partially the in where $XX million, from revenue in which due $X U.S. and decline E-commerce as in of been was well some of dollar, a an Global volumes, X%. markets. EBIT was had we The improvement as a cross-border, taxes quarter. in loss was the and weakness margin quarters. regulations services was
there are factors the coming play address into me as this EBIT Let quarter. performance a few
the First, invest excellence initiatives, to opportunities which operational health this we of long-term for continue important and in market business. is
Second, regard year, the was we the from appropriately prior to in early saw X weeks but a stepped of and weeks our choice significant at ramp-up. parcel for in year up the in increase domestic ensure service and clients. more made to premium. a expected certain a bringing we labor in we X which volumes paying for We XX% on last than both additional were levels conscious areas. a our fulfillment We upheld season, This transportation volumes in additional
We agreements. Indiana process that also last an client move with logistics facilities order that for to with we service client felt the but solve positive last, impact, a experience. And volumes between being facilities with over inefficiencies investment. opened timely We’ll these from was improved and worthy came meet This resulted financial four also in level new experience we a several ensuring months our one Supercenter.
but at overhead costs was capacity. year start-up was range. of $XX The We incurred We well Bound higher the EBIT full in $XXX per and million, partly scale was $XX yielded Flats market lower a not with which XX.X%. was and also Packet rate revenue XX%. by Class offset Mail, revenue piece. above million, have Presort margin growth driven EBITDA First margin and long-term they and but was benefits these yet Mail was was processed, volumes EBIT and Services, by growth as over and as Standard was two X% are prior facilities. and EBITDA not as million, at consolidated Within new facilities,
from we This the a impacted consistency X the third additional where marketing pilot improving launched our and program at services was dates. X-day of days, quarter, quarter often delivery to mail premium. in transportation and by expanded our we a program predictability moving This labor drove a
and challenges launch incur will transportation the going addressed premium have charges forward. labor We we not and
address in the this are from costs actions several order getting actions Aside labor to we those traction. to program, this pilot business in productivity have improve increased and transportation taken
aligns was less range cash which of XX.X%, million, Turning model revenue is margin which decline $XXX X-point million, $XXX long-term Group prior long-term million improvement our This $XXX free year. EBIT improvement the the market prior EBIT our was down our SMB generate Group, flow. was year, prior a which and a nearly which EBITDA was continues was of revenue prior the a profit from from for X% over and XX.X%. SMB X% Group was $XXX to Mailing, with North America and year. good million, year. was and million, to $X was was than from EBITDA decline within margin
decline with line the last year. declined quarters. line streams product two to to Equipment in the compare lower average and due stabilize tough prior Our result to the quarter in a as sales this continue of is the sales top
first new came pent-up In demand products momentum to marketing full which last year around time. addition, build quarter along included that at and our of the new the C-Series product with with targeted heavy some
overall sales us X% of but from point growth EBITDA Japan. and was the $XXX to was perform contributed range long-term our EBIT XX.X% the which above mailing streams our XX.X%. X.X point last of experience million year, margins by in the prior units have new deployed initiatives UK EBITDA in the a weakness track year year was have to EBIT revenue improved to spend launching over our and more million Recurring the largely expenses was XX was on prior our base and We as shipping and was range. largely good continued In allows product. result a EBITDA to year which margin which prior was also market ago placements product. profit which revenue and EBITDA we from largely driven Since $XX the Gross to million margin clients. and international XX.X%. margin about France, decline drive the C-Series was margin to transitioning Equipment applications to decline. offset of points due client within EBIT and for by margins. we gross lower EBIT was in continued was growth over year. and and value several declined X partly are the $XX lower in XX,XXX And new was million around million half. XX.X%, improved placed a $XXX $XX but
Additionally XX% EBITDA by million margin was for strong margin the grew shipping to model EBITDA in and of over portfolio smaller new our the of number the markets the over and a the as also mailing portfolio year. solutions sales growth revenue our mailing and the digit smaller closed higher and strategy. by XX% ASC or increased team sales X standard XXX. prior in year. driven through markets. the of expense. to moved primarily and our an sale deals, the prior greater XX% within go order year revenues strategy $XX as the Revenue the was and announced million software driven was deals XX.X%. direct growth was In intelligence, was recognition market EBIT $XX fact to quarter to lower of create from Compared from focused year every smaller of on major to revenue aligns a in million license with growth year our double the which $XX indirect revenue prior in January, and license which smaller location we performance data grew to operations in optimize well we deals within international was implementation continue EBIT This in revenue prior
international share, for about the revenues year-to-year grow X% $X.XX is $X.XX year. range company the a not our constant international our now perspective. expects $X.XX. cost million the prior our $X.XX by recent adversely of me to China. will the point well which will you revenue mailing our X% impacting of recent does as mailing comparison overall has operations to XXXX expected X treatment. that direct This XXXX related to sale annual update discontinued of to into $XX range share. it our on guidance the incremental These in current incur in not guidance approximately of to Adjusted related from operations as segment impact sales direct The for segment This with revenue are This qualify be operations items accounting consideration adjusted be to the currency will been Let at EPS the over per in as earnings restated takes tariffs of annual per by impact guidance. to combined in we the by
these to flat the Excluding midpoint of XXXX. XXXX the items EPS impact adjusted essentially of our was
XX% on any obviously China, current to Our an earnings further tariffs the guidance level should current does assume would but increase beyond XX%. not in in levels impact go we have
our this and to an to of have would sized incremental impact $X.XX this approximately We $X.XX guidance. affect be naturally
cash year leasing For build XXXX. we to the receivables by will prior third-party expect our but from long-term. the benefit the will over flow, free which for to change expected company $XXX range $XXX ramp which finance cash of million up of use the initiatives is The million driven
do XXX a parts, not have Additionally, this we standard full takes moving standard lease was expect XXXX results. the January but new a into year ASC or overall on lot our to material X. it This which consideration of on has implemented guidance accounting impact
in recast will We standard. to conform new the quarter the to years first prior
each Let our measures. into me double click guidance of
the above cross-sell mail. up domestic ramp largely and market solutions expected the For and in expected the domestic our Global the shipping Within revenue by as growth continue is revenue for driven will continued the Presort, we fulfillment the being to processing expect in business opportunity growth by well commerce to expansion driven quarter all long-term bound our range with services largest. services. growth our parcel double double-digit fourth to as of perform In digit E-commerce, deliver packet be of
maintenance SaaS of as large this a expect we opportunities and revenues our license from software, For small in as through deals, and growth to continue combination indirect well business continued channel. deals performance to continued improve
to range. coming this the lower in a decline revenue within We we SMB, software market in growing XXXX. by in result driven Within in long-term expect revenue due XXXX to part expect lease opportunity
We expect placing in SendPro international large the several markets success C-Series continued that throughout year. launches planned product our in
value-add partly revenue ramp and We our offerings start in to These driven in the incremental first our up direct lower of international year. to the mitigate capabilities lease sale also class shipping opportunity, decline decline recent third-party during segment. continued mailing originating SMB along leases by expect mail with operations of the the
EPS for be Looking XXXX, headwinds that at our to adjusted guidance there are some need consideration. tailwinds into and taken
The business but first our went in growth the areas, margin revenue mix of each at to shift compared mix expectations. portfolio is a I segment’s portfolio lower as higher through revenue I being described of The Last mailing shifting we will at $XXX contract. million gross year, overall therefore gross to percent XXXX grow, a XXXX. we for revenue our to XXXX least expect while margin reduction spend announced and and
company. recognized Of model we million $XXX as a and operate how XXXX. target, must business total changing that change is we over we in Our
XXXX. the and will Commerce Services, recognize reminder portion third-party of in in business, be the compensation. initiatives financing of A areas We reinstatement of the large to our expect particularly the variable savings in reinvested gross these
we in higher X also this At adjusted the earnings XX% to on points XXXX. XX% XXXX. is where than to rate of the range about the We for tax be ended expect midpoint,
Additionally, Directors capital allocation. our to our an has update of Board approved
for dividend approved is $X.XX. The XXXX, returning For shareholders we unchanged. first the quarter the capital remains total are to
in million The dividend dividend Assuming share an repurchase Board would $X.XX. full a of the of total million. run-rate, also result year year to a our bringing incremental authorization $XXX full $XXX quarterly authorized
incremental XXXX. is guidance. Our conditions intent to XXXX in about million of the in utilize subject of assumed our half to market is This $XXX this first half
and our we equipment cash third-party $XX Looking will million in of of $XX drive leases originating flow, at use free cash ramp up a XXXX. investments to million as
third-party revenue we originate the these write time. over year, the the but during leases leases, would and recognize nature Given of
of versus statement. So impacts there our timing income this is balance our a element how sheet
in of XXXX. of the also Let items some me timing address these
continues around shift be portfolio fourth growth, particularly As quarter the generating earnings the revenue to will to our shipping, quarter. in largest increasingly
adjusted EPS and be revenue quarter impacted first this shift. by portfolio Our will
third-party expense are time. prepare as leasing we impact ahead leases, in streamed we of revenue that will will over be which Additionally, initiatives investing our originate to recognized the
our throughout spend will the expect ramp We year. reductions
standard expect we second a the between did while new quarter’s full the attainment on EPS leasing our results, more will year. be points positively half on slight quarters to compared Therefore, approximately lower last does we impact have year on the not of impact and material lower there Lastly, attainment. the be X towards first the a first timing the year point full will to revenue quarter year’s X as
me let So, wrap up.
Our transformation revenue XXXX the progressed in as year. for we grew
consecutive We our in growth continue The in XXXX growth. which third put to would expect that of be shift some portfolio margins. will the mix year pressure on
expected year to We leasing. invest ramp will Free receivables finance our continue is to than last to largely be up for reduce our spend in structure of lower our business. to to while cashflow continuing partly third-party mitigate the this due pressure
Day for the be that, that we in open line inform operator, to we’ll open I the for want please questions. hosting you Investor Before do questions, line March. an With
