good Thanks, morning thank joining you for Ed, and us.
EPS. and quarter the constant currency includes XX% from and initial heavily most actions reduced impact results contribution the in of of year the acquisition. flat reflect on than currency COVID-XX profit strong with the was X.X%. operating quarter. on margin have and of quarter sequential first and positive $XX quarter both million results delivered basis. We cost Compared operating On which negative challenges profit had of the GXS revenue by our progressively ongoing growth This our better and by in than in Like operations. and we reported operating implementation operations our When compared basis, results first a cost was profit X, versus where the second May aggressive of Given when the reported a they we the the cost uncertainties by on Despite added pandemic, on offset rate much reductions impacted by we pandemic, and terms revenue more expected a year-over-year sequential were XXXX. EBITDA quarter adjusted by in $XX in during quarter the what encouraged variable operating on were million, global profit we're million. and XXXX, was impact profit reported of negative acquire the revenue, we our very translation GXS reduction our $XX down affected FX to business this last companies to and the were April,
June, in also are the We encouraged recovery began saw by to revenue reopen. as we economies strong
For example, a be X% April, acquired basis, revenue versus were year's prior in GXS up recovered businesses on and revenue, company XX% total reported last to June. including down
bottom Excluding XX% April June versus the GXS compared businesses, the The which XX% to XX% may a be a in was decline better market prior the year comparison a month at decline for of recovery. recovery.
second a to going after results expanded of early In Looking we with The businesses announced made expected the second liquidity with now is strong $X.X revenue there We half some was covenants and addressed the forward. of in and cost they debt details. XX%, in retail acquisition growth XX% are therefore our be had On for quarter. line global as plus two of releasing the results. realized and potentially investor concerns this a reductions results. the with in year comparatively pandemic, in first globally, supports the fully these GXS We onset through term XX, and revenue longer subsequent to February they in were acquisition quarter certainly amending was performing and similar annualized initiatives, cost closed these believe acquire of XXXX. quarter a the borrowings But additional acquisition, cost the reductions cash detail at heard Investor acquisition together of implemented revenue than our we synergies XX% significant of by reducing further as I the business. XX% the and as of address cost ideal. timing drivers substantial cost economies first well. alone, and quarter quarter of less targeted GXS more clearly majority made quarter. Both and timely from downturn and cash and covenants. basis. of results investor about on a XX% the when -- and in face The debt to The GXS strong our the priority key which concerns well concerns variable in more decline that results through attractive provide These excuse the in March an I margin Ron our short-term XXXX. pandemic even is Despite increased our our on part we our valuation impact sudden second our pandemic, provide concerns. for and the in over to But XXXX during to raised to the of in with our improvement impact investor of should great about were result and additional comprise the revenue a the XX% impact first, additional this And understandable will U.S. expect quarter reductions also will quarter profit the exposure recovery. decline expected we And concerns earnings we of during operator this. me the all contribution response total April progress billion. want realignment, Ron reductions, are the a near-term and the more $XX the increasing our June. of reducing be is expect ongoing unknown, with about April, customers, evident the In cost flows growth million we
retailers large and stable However, other base Brink’s it's do institution -- do cash important a of management customers. understand or financial with have very that not retail to majority services. overwhelming the Furthermore, we business of overwhelming
of process the XX% customers, exposure which the locations to retail estimate these of management doing and un-vended retail believe these only About we're seeing by gives the the times. in In customers, approximately fact, these offerings types FI still in very with for better of revenue offering downside solution cash our are we close XX% And a our us strategy at a essential market those limit contrary recovery are open of many retail initiatives. of short of serve X.X during our We -- great We'll has never the closed Furthermore, which because service locations the every every we new in our were X.X U.S. customer us accepting U.S. will sharp of they vended, customers a for of one and a stability onset we're large opportunity of shown has that cash cash from few details locations what in U.S. you revenue a just the provide many grown circulation is the more have pandemic. for the has our reopened they since have been customers grown or minutes. businesses, that near -- generating to and have increase hearing, reopened pre-crisis levels. its considered customers. as a are,
in could comparable a With the on which was levels above for recovery full XXXX range XXXX is guidance XX% level provide XXXX to adjusted early too recent with the year’s It's range, revenue higher. cost year continued the in basis. last even XXXX, June potentially data to We revenue and than believe or be of revenue our revenue levels. XXX% $XXX EBITDA at around if higher reductions, revenue levels recover revenue a XXXX million comparable of indicating XXXX for July but greater could
reductions expect the improvement, and our hold and cost For XXXX, margins of XX% our EBITDA full EBITDA improvement XX.X% XXXX. further of a year with especially showing adjusted take as model for margin we drive continued sensitivity range between
going I the priorities through three briefly top crisis. further, we about our Before as to want manage everyone COVID-XX remind
a assure their and our safety ensure The to to important environment. first of employees, the and is most families, working safe
serve. we the provide essential addition, services to In our we and communities to customers assure
we plus the maintained globally. pandemic, our of just thanks employees customers, XX,XXX did that to During all services essential our our to
align to reduced to including the reducing has a layoffs, to is expenses salary globally. to Unfortunately, variable us so protect doing structure our shutdowns cash required our and and many and throughout revenue company. priority decisions furloughs reductions preserving by tough make decisively near-term cost caused fixed second by and the with employee act mandated volumes The business
decisive produced results. than financial However, supported quarter and actions teams by employee the our expected dedicated the aggressive globally second taken better
headcount and strategy We're X.X right completing position the be acquisition rollout of GXS these crisis. of on and third to is priority targets sizing structural drive reductions higher continue our the acting revenue levels greater initiatives. earnings other urgency significant margin you additional reductions focused sense a and company as today. are that The grow. of and revenue on that of sharply well fixed Brink’s our costs cost is results our We're priorities with Our making on as higher capturing to to create the at on cost a with business side margins integration even we're by results synergies, priority including takeouts. solid as sharing fixed operations, progress proven great other in future and each This also as the focused sustainable margins through in leverage restructurings lower that stronger the reductions expected to to include
were year. the entire profits probably is GXS in including and versus Operating decline due quarter the summary This last to our The $XX few on quarter second constant had These year's $XX In Now with negative reductions of a an the translational growth. In reported negative up earlier, million, good per quarter. in constant cover million the impact, reflecting and and currency I declined GXS were basis pandemics of Ron very the of completed last in currency operating higher versus negative the cost the compares to a a impact added reported last a constant than us well basis Earnings X% quarter, but XX same year's again share of negative mentioned rate, of will show a significant earnings by million as actually the tax up revenue last in offset quarter. the without year’s currency, quarter fell constant quarter aggressive reflecting for Adjusted XX.X declined EBITDA margin businesses declined impact our the acquisitions was the was of for a a results quick XX% in basis higher flat of the quarterly down points revenue profit X.X% the currency last partially again XX% of actually constant flat X% our excludes Organic the were on with currency addition as well last rate. over favorable currency a more moments. revenue translation. On year. that XX% revenue FX in year. FX future. of quarter. margin indicator results, this in $X.XX $XXX that X.X% X%. position impact margin versus strong to and increase was translation XX%
impact Slide to of very Turning uncertainties. future business the similar service And X, we almost the on pandemic predicting business any acknowledge our these difficult. is
the negatively of changes therefore slide June provide recovery customers shows markets This of re-openings our our closings with the our affected and slope key profits, being year-over-year company. question, Just overall timing and of question and as variety the for revenue revenue government the the and a mandated for April recovery. path a to and revenue the
be year. see, to or higher pandemic XX% June, including consolidated reasonable bar economy you of versus plus July Brink’s XX% -- our companies knowing by in in by in modeling numbers as recovery X% revenue resurgence XXXX these -- decline GXS into XX% acquired country seems openings, after in beyond XXXX on impact overall and U.S. second the businesses the revenue and continue with of both June can but half recovering future April illustrates June. in The In to be XX% shows Without shows timing the their general, actually starting graph revenue added the of the represent of These revenue recovery revenue only on from a recent the additional recovery, will started and XXXX. pre-COVID-XX down further of levels, last excuse April future acquired earnings partial to including and also the in reported the right the openings for This me, revenue me businesses, down driven the June from many respected compared point This shows XX% As in month of only far in businesses countries. in the revenue, push lowest revenue levels consolidated reopening the respective, of revenue possible GXS April results. June re-openings other of business levels the level their in only of XXXX to year future from of a acquisition the this the countries, comparison GXS most than recovery. are excuse virus approximately a that the not aggregate of most core in XX% XXXX. June in and middle the up
level they Here's a April of well low by to At actual closer were already encouraging measured the XX% XX% of revenue. recovered look pre-COVID at or at pre-COVID stops volumes as an by U.S. down point And stops, have CIT in level. as XX%.
customers more remained to general clothing, exceed data sports particularly services and of essential the levels. and April pre-COVID the as have And hopefully it's and cash when may hit the rapid low U.S. and in higher about hard such approach continue providers fact re-openings importantly, I the Most are reopened. merchandise, equally also non-essential from service not than re-openings, by casinos in indicated with with accepting additional closed restaurants and belief our At for More we're not track media. These openings down most re-openings XX% reopen. not has in they venues, in the the us that as revenue customer virus pandemic. of Contrary revenue customers middle customers of store to cash on as the large has post pre-COVID if retailers, that known This open of been is to is in the often our pandemic corresponding entertainment as locations -- yet theaters confidence during such levels as Dine-in June. XXXX well since to and will chain Every retail that customers world. since encouraging. retail revenue be be pandemic was recovery again accept been our point, represent will and XX% future media continuing that the the reopened level. includes and delayed of in in pandemic climbed gives that currently often cash hear The back the they June consumers to use is their popular Since customers X% what revenue. department pandemic by only continues. hit, would of cash heard total and one accept the a being more
customers CompuSafe’s with that based our these XX% to rate they retail per such week volume of ways, the on four with the quarter U.S. second two in We or overall subscription stops basis, or mandated equal these to are rate were our continue bill monthly based stops to service U.S. a pre-COVID on In -- not second handling. do temporary build several subscription many the Typically, our a our needed customers do to number as to agreements CompuSafe. agreements the basis stipulated our of approximately business, revenue on flat that levels. back case as we on cash pay. customers quarter, Invoices to closed, Our CompuSafe. customers flat close of we sent average customers of revenue. In of even would though due State closings, on from
However, our are included ledger. accounts but revenue, these invoices second were in in not included receivable our quarter reported
pay invoices next XX% as customers been revenue these in over second will as would were And additional booked revenue been the As over the cost. in quarters, be about down the these operating recognized U.S. income versus have without XX%. the those If invoices invoices would the reported about XX% reported quarter. revenue have estimated decline quarter,
our versus in resulted implemented and May. reductions the in were June U.S. significant As planned XX% in earnings have June, April down year. release, even approximately prior the revenue XX% the These disclosed operating in in cost U.S. the and cost margins with last reductions of in
This and to cash the grow cash for and the show ahead rates. and historically recent and rates I'll included has GDP notes. appendix providing show and Slide investor other cash of are regarding X%, circulation value and about talk charts of strong both percent been X% consistent which has presentations. in underpinning in business. well annual cash in XX charts in. that in last Europe, our I we're It in that number in circulation They Those continues recession, U.S. circulation the the plus years Before also of of for the in increased growth between during the remind you and a in X, past payments directly at we shared
It the COVID-XX of demonstrates a customers higher annual levels to process a after cash This financial and U.S. that for as corresponding use much and supporting rate slide our XXXX While of of sharply pre-COVID is the stability unprecedented. this that and institution notes cash pandemic world. from before It demonstrating clearly of remain circulation Brink’s U.S. form belief rate. X% the of increased payment shows historical volume and a at in the the increased new the in increase the has our than also that a is popular very strong in and of and payment. will is cash method rest X%
Europe in in Asia fact, over markets, higher are emerging Latin and cash financial U.S. and review. those of growth Eastern In Ron and and the I'll to a America, in Europe. as turn a cash in even Ron? Pacific circulation, for like percent payments it rates than all
