Thank you, morning. Marc and good
wellbeing our Our continued the and clients, focus remains health and on partners communities. employees, of safety
masks, work conducting our protective industry more locations, multiple in XXXX, temperature mandating safe last increased and facilities, so. impacted some ecommerce social been our All than checks COVID; positively to risk to market shifts XX and sanitizing have by discussed more times day. are continued in points we negatively. employees we our can sales higher call, areas percent As business staggered Within some XX%. XX% do that recently remotely the from in breaks, retail enforcing In a of and US a as of distancing, total
a are to We shipping have experiencing revenue of mailing. total is fueled shipping quarter, dramatic ecommerce, time which revenues our outpaced first products with revenue, which In also our second revenues the shift quarter. our the our this comprised XX% strong associated growth
experiencing As businesses. within related the anticipated, we are mailing pressure
address supplies several were expense We mitigate $XX COVID leveraging quarantine the exposed are the have to costs to We and opportunities years some related that the to help made over incremental the approximately the last the pressure. in and higher investments our primarily largely estimate we These safety quarter relate employees. costs on for million. PPE, bad employees ensuring pay and debt of of
USPS saw costs continue network serve into parcels uncertain injecting on course, times, during tight bypassing And, the and higher postal and order we to in position to our to keep better a we these directly focus related addition, In our our clients. of cash. liquidity
recap. Let me briefly
a the continue and billion flow up with flow for We first $XXX the which half $XXX well the year. the cash significant over end quarter to positioned is Through is cash free from improvement investments. cash us first second short-term ended strong maintain We million, half was the liquidity Free in quarter. of the over million, $X million which position. prior $XX a of leaves year,
addressing done have of We around and strengthening lot balance our a profile. work sheet debt our
manageable have $XXX amount that maturities until is October no million. at We bond XXXX. And
our focused balance remain We will sheet. on to continue
We There continued We also announced reduce a for on And drawdown million in capital. thing working continue our market. the no throughout April. the remains spend immediate need the to a of prudent facility in we funds, the discretionary this focused credit but revolving we organization. uncertainty given place remain do $XXX believe took to which on was
DSO improved by For reduced the we $XX days and also about first OpEx by three quarter, million. we
are ecommerce will $XX spend original no our we reprioritizing our more new compared year. our capital $XX for long-term we million to reduce Last the original than that We we million $XX We Based be building estimated necessary the million million. to XXXX, seeing, $XX of to million spend Within in our out long-term. Financial, that are remain around CapEx we accelerated plan by we needs expect this around that we our annual over approximately to can capital to our demand spend quarter, discretionary versus are essential year the likely objectives. support plan estimating on originations to investments and million. financial as our more $XXX $XX Wheeler reduce in services committed
will capital. when to comes it We be continue committing to prudent,
and current continue will shares we dividend flow the year Assumed transactions, our for M&A of maintain $XX limiting rate XXXX. million in annual cash not to an run our at intention our are repurchase in who to is
me with and adjusted saw measures flow. to in in and our take release on our my unless talking second and we posted GAAP quarter's press on all comparisons, discuss each of will items, basis through the noted, past, about talking Reconciliations currency trends schedules you be earnings forward an in of when about Investor statements website. of related cash now on earnings Relations otherwise financial our businesses. the including Let found can non-GAAP It's going constant a basis, our be when results the some
EPS a relates year. related the $XXX COVID offsets $X.XX costs of million. Adjusted experienced incremental certain This $XXX payable totaled for the is to attack prior charges of in settlement And higher $X.XX and deposits, equity accrued malware from sale of securities, $XX and EPS timing of second liabilities investment $X.XX EPS and GAAP this cash to quarter and late Free customer restructuring includes operations. year-over-year. the EPS gain million, for of from we offset discontinued it that $XXX the of partly as the related. GAAP of result by to million. of cash accounts as quarter, revenue was related a is the growth year for the over flow proceeds operations last cash taxes that This loss million $X.XX well $X.XX a Free quarter. of the $X.XX we For in as estimated approximately higher was and $X.XX business includes a which received also asset as charges by quarter. flow growth each was an partly on portion which insurance driven for increased of investment. impairments is X% was
benefited saw of also finance flow. higher a cash run receivables off We which free
of recap capital end position where on we our through briefly me Let the the second quarter. are
short-term earlier, ended I and As over $X billion we in cash investments. with stated just the quarter
with quarter we our spent total and payments a form $XX the billion facility. return approximately to We During quarter, From revolving includes used free $X.X shareholders dividends. on in from flow $XXX million credit debt $X ended million of in million expenditures. draw restructuring million the made perspective, we the which cash the in debt, to our down $X capital
billion take $XXX terms million In of net company the short-term debt, to of approximately addition net receivables basis of an you at end in into our implied quarter. $X and on investments, our was the in cash our the billion, position when [ph] operating finance debt consideration
of COVID. starting our margin prior performance gross was of have from a Turning of was SG&A year. Gross points year, was with grew taken declines prior [indiscernible] a and grew Business revenue. The revenue, item which with improvement mix services profit $X lower provision of spent. to financing largely repurchases prior Weighted million X%. was SG&A the the to declined revenue of margin R&D discretionary prior of Interest compared shifting revenue, was percent lower points portfolio expense million, share end [indiscernible] and was year R&D $XXX XX%. line points EBIT the driven shares interest XX% as million million year adjusted for of which of from decline, million of actions about of million. X million, as support and from year. in prior which year Compared XX%. EBIT as $XX was XX%, was including is or X.X rentals over supplies by X reflects in a which $XXX to down and P&L, impact earnings [indiscernible] services we margin prior decline by of result year, XX% This offset of for XX%. in by We lowering and the [indiscernible] around the from by primarily declined a X%, the about of expense had was than and equipment down year. XX% X was partly EBIT X%. about our rate The profit million down which shares slightly EBIT And $X expense, taxes outstanding average is quarter $XX prior tax which million prior $XX XXXX. completed at quarter, financing was $X million from the spent.
our prior $XXX million, of performance now quarter seeing we the me this through Let commerce services discuss are what our of revenue was In year. which and of Ecommerce, was positive million, July. year. business revenue each over loss which EBITDA of XX% $X was of growth Within and prior a group segments growth Global $XX million. EBIT was XX% million a was $XXX over was
player of experiencing which some are as this overall XXX quarter, the We clients position proposition to testimony is in revenue in market quarter. competitive the this which dramatic our key a clients We signed shift our to and in a growth evidence [ph] including over and value fueled our wins, market. ecommerce, sizable new
it We that second these certain most base, are are making reliant to in volumes It's volume point client new out of not clients. our quarter on important results. less diversifying yet client also
In opportunities to as during regulation ahead have internationally of seeing we market some that result. UPU solutions addition, platform expand And are quarter, went [indiscernible] July disruptions into a U.S. second on Xst. new volumes, effect created the our the inbound
second We to did a quarter. XX% the parcel delivery processed our that in a expect a services, doubling we We saw continuous up more last than for services. and number ramp opportunity. this what year, by be million domestic driven volumes forward go in We our XX of nearly record first quarter the parcels,
grew year led revenue strong prior XX% by API our shipping over volumes. digital in domestic growth Our
down in [indiscernible] We business. seeing ecommerce To-date quarter growth the to new the entered third April we the pent second step as business are demand some from [indiscernible] addition due July, the some experiences the a the logistics quarter expected, from in prior was Our but cross-border cross-border ship This X% improved. in shipments end revenue quarter to client but toward restrictions who Ecommerce large Global accelerated Typically a from clients, in from as second this continued since year, trend to the declined international quarter. again from trends the in quarter. with started XX% with of quarter up third revenues the well through backlog decline given flights June. similar the second the Overall suspended mid-March, us to through seasonality. quarter the of the for growth quarter has across on
to Given environment, the online quarter that change second continuing here, being notion we the the working current with less, with in third are paradigm that buying and expect the line on remote quarter habits. traveling levels people
$XX at Looking improvement quarter first million. of of And EBIT, EBITDA of the loss which COVID. in $XX recorded quarter. a of the $X.X was loss million the Both despite million impact from a
from and over first XX% the an EBIT quarter the margin related minus improvement respective scale X.X% warehouse The Reflecting from both XX% was parcel, benefits quarter second first and of sequentially reached transportation and per year. prior cost and quarter.
with day. Compounding warehousing where the per imposed in becomes transportation our got and by this, we over This our time, was by course and model works. cost demonstrates XX% performance demand. are Labor in we expected can COVID-driven The opportunities increased higher that demand to our improve both postal partly cost predictable. more leverage through as productivity XX labor out second We of due offset quarter unit. scale
direct debt safety sanitize expenses expense. higher saw and also we expected, and higher procedures bad As related to
All of COVID. of which are due to impact the
investments quarter not to We’re this most will of attributed that and we new shut I'm the quarter loss due years which, our half facilities in we've the continue to over directly related coast of than EBIT two few We've these we especially volumes margin each COVID. always one end made during margins it two to to our The last margins. estimating pandemic. report did have incremental costs the two to of the facilities pleased during technology, our any especially the a network approximately that our of shift down accelerated the of targets. have this on is are COVID, anticipated, to services, ecommerce is getting at domestic are allowing ecommerce at instrumental to our which seeing. long-term is in the delivery today year in volumes than lower relates faster handle to operational as efficiency. Number last certainly is we scale. us grown has said pieces Number there The been to overall flagship
better However, automation we order of in still to to operational this take efficiencies growth. continue need in to invest and advantage
investments in And continue opportunity. new we flagship to facility, that as long the it invest do our is demonstrated of As opportunity. see will with important so our to we growth as ahead
this a smaller new volumes additional to last client of facilities, result, service in expanding meet facilities adding year will our metro half and As and those consumers three one year. levels increase These the markets. compared to flagship as we footprint size ones the will to other. in This added we'll be second the improve be better growing
revenue decline million, Looking from a of Services, Presort was was year. $XXX X% a which at prior
saw Our the than second Presort the on quarter, COVID from better impact but significant during market. business volumes
volumes [indiscernible] prior business declined from Mail comprised process Mail about volumes which X%. in XX% Class First this Marketing year. declined
overall and an quarter. to consistent uptick seeing Presort, the relatively in we per the year-over-year average revenue the are grew daily second our for in second were Flats compared expand profit to to are talked this investments new about build Matter revenue Mail Marketing Matter a making Flats volumes and order to Printed Printed business have We in quarter, Mail and volumes quarter. we Overall, XX% contributed Bound in our stream. lower increase through Bound In the an Marketing as daily volumes piece. July, the and In
to volumes, similar double-digits. contingent duration to Marketing Mail in expect although, seeing we're continue this decline margin current And Flats volumes low XX%. was naturally, X%. and the levels continue range. volumes a improvement But to $XX and stable of double-digit and range. volume Mail more EBITDA returns the time environment. more EBITDA Bound the Presort single improve volumes from mail are is grow million quarter to over and second trends EBIT was would was the as in EBIT million normal Marketing Printed our Matter depth some behaviors digit the those Class back U.S. high upon to We in was COVID. declining in $XX margin First
the margins prior EBIT despite While down malware portion offset by and as relates included which COVID. the year, network, per of this first our was from synergies we're the and attack quarter cost lower late impact EBITDA last proceeds place it a year, e-commerce productivity with the initiative and flat our of quarter volumes revenue. in put the significant seeing improvements were Through unit. to to insurance transportation in received
higher on improved in [ph]. to processing Compared cost hour impacting [indiscernible] seeing safety in which are resulting labor per initiatives related to in focused cost. and productivity hours. year, business We prior pieces XXX,XXX equipment We our this to driven and fed sanitizing remained is less procedures investing automation we
We over our network. region. our expand mail was competitive At expected closed and than into in on we the on This expand network Dallas region, acquisition which $XXX Fort to million. reach million a less in quarter, annualized basis second additional bring continue an in pieces opportunities Worth our to to $XX look for is the small a
of $XXX to a was Turning from million, was XX% which revenue segment, year. prior SendTech decline our
elongated the longer as related revenues impact due on to sales, XX%, the As COVID. times saw which well we as as quarter, saw to he we cycle in an equipment quarter, scheduling the install discussed in-period were sales greatest down last
declined decline are the the which decline in in from demand down trend for the improvement usage, COVID. they the quarter, we in on double-digit year we sequential revenues the a the our expected to saw from the from Supplies in by support to driven supplies which third trends, April on diversify mailing financing businesses. the sales down comparison. business of with third been in in In indicator shipments We've second from lower prior quarter our just by past expect XX% XX% June still discussed invested Within purely quarter to leading and as Based decline for reopened, potential down to sales have XX% quarter, sales, and equipment the to portfolio through cloud-enabled by down SendTech, XX%, equipment over impacted businesses what relate all driven a equipment in prior we services about XX% backlog improved in equipment has in evolved client and mailing investments model model in June. under but to sales model term we've and June. and capabilities. and a long As similar to saw tough our Similar improved April the activity. year a analytical hardware-based shipping solutions across declined
capabilities, in technology, are Our three stream technology, off. pay mail device product first in a developing we in since around expectations. areas, revenue we units XXXX our and launching, investments web to exceeding new the of starting station, a capability. profit a investments over quarter new central capabilities, primary our kind cloud the shipping. with products shipped channel are meter new launched digital These new a Investments In in
we in the revenues prior built the out transactions sales. about web. [indiscernible] in are Within this America, Global capabilities, nearly API's XX% our digital of capabilities. prior supplies channel, adding the the SendPro [Indiscernible] year. digital Ecommerce our of including we've and revenue million. now from invested paid leveraging multi-carrier shipping capabilities, direct grew invested over grew have web XX% and in in quarter, have $XX like Within number online an year. service, subscribers through Shipping was SendTech innovative SendTech shipping In in building second channel North especially our shipping, We
multi manner, is both label investments, have our which prior volume also end-to-end and/or an differentiator doubling our which a traction us. these [indiscernible] just devices through good than clients Through our in for shipping year. now solution is shipping us, invested we more online in for an with through physical transact have getting key carrier We the to
capabilities by adding itself and revenue [indiscernible] business new streams. in profit enhanced Our
consumption have for these times preferences customer During accelerated. models
We the channel and margin are based and the was made. uptick preferences is the to These July, than the the slight range. also results. was XX-day these To well saw our greater second $XXX model in We increase write shifts with of an will in improved in quarter in nominal areas early COVID lending seeing market EBITDA help delinquency, largely [indiscernible] what our leasing digital delinquency margin prepared certain portfolio the revenue, tied increasing in we earlier SendTech’s changing through important delinquency offs. portfolio, decline our from quarter, million have we these unexpectedly the margin indicator on SendTech during not US. has EBIT for date are to delinquency from meet solid the a first in stage transformation. investments was quarter stage EBITDA which a postage within resurgence Despite long-term saw daily remain And XX%. we The XX.X%, second million. monitor future Within EBIT in potential EBIT rates of a was early basis. accelerate
Although have some in we are remain bills of [indiscernible] reopened, as another businesses and our signs promising focused in on making full minimum their and seeing which pay side. Despite vigilant customers time more we progress, portfolio. payments, is on versus
a current and number has a items. dramatic me Before recap. we environment created shift had this take questions, quarter ecommerce let of to The your notable
mail. associated short-term with cash those and second in investments. exited For over the revenues quarter first outpaced the just with [indiscernible] We our shipping time
XXXX [indiscernible] million. is $XXX October maturity bond in next Our
worsens. continue structure to maintain within We across capital to adequate environment liquidity cost the business actions external take [indiscernible] the our and
portion employees social equipment all on keeping While discretionary we impact we to a on sanitizing when an productivity, the compromise basis. continue facilities it has regular into comes invest business will our providing not to will continue labor our safe. employees distancing, [indiscernible], keeping we reduce spend, for back This and a around to but our
the the mailing along lower is modest July, June is through environment, third the the macro second driven in our far While third we we to businesses. in second. historically, saw uncertainty some related quarter trends continued the despite This our with quarter and than in by typically ecommerce, the quarter the on expect compared as based revenue being improvement so in improvement
are result in continue the a costs, EPS improve also while revenue As our quarter, half particularly there additional of the we deal cautiously second the our uncertainty, COVID expect to we still a is results. half, versus related the year in impact [ph] trends first resurgence around second we of U.S., the improving modestly which of of the expect optimistic would about to great improvement, COVID. And in the to
states seeing reopening and on take phasing the are modifying actions original already start We to plants.
comes level Please we now COVID of remain provided with Given open please will the around the our ahead. question from XXXX Loop continued the Thank uncertainty with Capital. Operator, [Operator Baruah annual questions. consistent take suspended. direction go that, first we for Ananda guidance quarter, last line. With your will you. Instructions] Our
