Tom, Starting revenue with consolidated everyone. X% results, second $XXX morning, to good increased you, quarter million. our compared and to Thank $XXX million
exchange, revenue X% represents a foreign normalized XX.X%. quarter. grew for XX% of increased of to impact EBITDA million, the $XXX the margin points expansion Adjusted XXX Excluding which to basis
adjusted impact of foreign the grew EBITDA Excluding XX%. exchange,
X% quarter. North the for increased $XXX revenue to $XXX America performance million. million segment-level compared to our to Turning
million. improvement a year. normalized foreign to Adjusted Excluding exchange, XXX last increased EBITDA XX% America revenue the point North Adjusted EBITDA increased in impact over $XXX climbed XX.X%, margins X%. basis of
million. $XX In segment, our XX% to revenue by increased Europe
million. revenue XX% foreign $XX of XX%. segment the Europe impact the Excluding EBITDA exchange, normalized Adjusted increased increased in to
Excluding a XXX Adjusted of improvement EBITDA ], increased EBITDA basis climbed exchange, XXX.X% foreign year. point the over impact last adjusted XX%. [ margins
The results improvements our have pre-pandemic show operations of to levels. and European continue to returned strong
improving Europeans the of operations taking returning on to are focus our benefits increasing route improving Our the scale, our and density, hold. route office
Europe strategic year. balance expect we of move the we their executing see the through in to team is Our and further as plan, improvements
Turning year full and outlook. QX to our
from will to that range million $XXX $XXX revenue $XXX million to be continuing third EBITDA and the operations third consolidated quarter in expect million. and the between adjusted be for We million our of quarter $XXX
an an adjusted million increase expect now with revenue XXXX, year for to previous $XXX the projected guidance. we $X.XX of We EBITDA be billion with to between $XXX are free million, to mentioned, X% of adjusted guidance, X%. confident of $XXX and full in range Tom to flow revenue year As between cash be $XX with our full billion, million, increasing the million growth in compared normalized XXXX and $X.XX annual
by I as driven approximately discuss ahead our in Our $X.X increased million tariff the guidance will as initial year-to-date that EBITDA that performance in expectations, of moment. well a adjusted come year-to-date refunds is has of
recent by acquisition. of of half annual guidance performance contribution as back increased our the confidence balance is improved of for level driven year Diamond expected our tuck-in Spring the well as our the in The
quarter the drivers as higher commission increased EBITDA. to pricing. a our expenses the increased The expense, the providing result in SG&A second to net Our margins of offset higher reflect provided gross impact delivery of higher a payments adjusted commission
our second would sales SG&A in charges, reported including the been to compared XX.X%. to charges, several have related onetime the XX.X%. XX.X% proxy Without the second reported SG&A these been include expenses percent also Our quarter reported the would those as SG&A compared of XX.X% challenge a have Year-to-date onetime the during quarter. to
leverage expect a sales of as the We we as QX higher seasonality. to benefit from scale to and volume our due SG&A will decline percent of
is million. $XXX $XX an maintaining XXXX approximately are incremental X% of CapEx of our We approximately million, guidance revenue, plus which
our in and the XXXX we noted in upon This XXXX year as will November based to an Investor us and and per XXXX performance invest reminder, Day. million XXXX is confidence $XX investment dollars a enables reduce the and our $XX outlook. run to As XXXX, deliver decision rate incremental that opposed the million
installing and in Refill Filtration and more refreshed be on-the-go will private efficient fleet, more initiatives production will branding well innovations. water for our and innovation, building and plan water growth, friendly increase Key reduce new as funded efficient usage in our growth leading our and the development investing environmentally our distribution more signage products, which dispenser to our Filtration from digital existing include productivity; CapEx of fleet, driving units, with of lines, of units as a driving a which allow
in normalized return XXXX. approximately CapEx revenue of to total expect to We spend our of X%
expect interest $XX expense our excess is interest interest is For dates very maturity our remain rates of while our majority to of full to expense X%. loan debt we and The revolver actively our XXXX. senior to X that interest cash of approximately at with note XXXX to lower year with low X%, rates are approximately we tied XXXX, with The balance approximately tied of $XX managing expense flow cash million. facilities continue million of
net for approximately range With million our NOLs. This expect we $XX U.S. anticipates in losses, the cash end communicated and guidance, of taxes. of toward moving previously increase cash utilization of adjusted taxes high operating are our EBITDA or currently our estimate the
can we year, have each balance the While of of we U.S. significant the are in NOLs in utilize we and limited XXXX amount XXXX. NOLs still available
rent Dispensers goods under previously Customs. As tariff with the was as Water CapEx that costs by well burden we the tariff as both of Dispensers XX% Water impacted U.S. the sell, as a reminder, as category import our reflected cost increased we Water Dispenser The a sold.
dispensers recoveries in through November tariff reclassified of of Our refund funds a available were XXXX, process. with
refunds have original in We recorded manner the of the same the transactions.
year-to-date in to of sold million and Approximately have reflected to in updated rent is adjusted $X that we of approximately adjusted million Water is million Dispensers flow QX, million Dispensers moment. in reflected Through discuss free is $X.X guidance $X.X EBITDA related we the million received CapEx. as the tariff cash the the retail, $X $X Water cumulative that refunds. a remaining The related our we'll to
amounts the the refund additional promising, have refund is process. updated the uncertain timing in progress of to While our reflected any guidance we due refund not
be was One expected key learning clearly study adjusted from perception flow. of and that more on especially the articulate to outcomes, we investor the conducted transparent free cash topic
to slightly in our As we taxes. confident the increase EBITDA million, guidance free adjusted estimated performance date, our by $XX in at increased the annual an cash by raise outlook, front in million. the increase to This adjusted year, of look tariff received the cash are our offset our of our ability to half driven flow we is refunds $XXX
sales generate metric. added free the not these onetime in wanted outlook additional property taxes since metric. changes cash communication be adjusted million to clarify in flow this on and cash estimated guidance adjusted to estimates, our take our the nature last free and this time contemplated our flow quarter will cash tax We $XX would While reported our back to
to larger been half second occur primary make The repurchase to the on the XXXX have properties. the progress is year. for program, share and estimated our continue still of last sale disclosed of funding We timing mechanism opportunistic as our in of transactions
date, we we during not $XX million repurchased repurchased these existing As program. of have under To million complete the of the worth approximately did shares. property we $X approximately any quarter, sales
utilizing X.Xx net We of as leverage Xx the the of end targeted our of our than remain performance our on to by borrowings targeted to end ratio This while committed repurchasing cash the shares. sales by property and net leverage a as year's achieving of adjusted occur EBITDA below 'XX. through XXXX well revolver ratio will flow both opportunistically reduce this less
of the back tuck-in remain of tuck-ins, year-to-date through complementary Whether scaling along positions XXXX the guidance the are year, potential or M&A million $XX with to our $XX of half Our achieve we base. Acquisitions the the a of to acquisition. activity, for both acquire our organically customer means of customer million. of acquisition purchase acquisitions customer source us tuck-in base
to other The typically means customer cost per acquired of is acquisition. through acquisitions similar
are accelerate in Direct acquisitions acquired the the lies as the and the understand way cost However, Water of the customers. committed scale. in and of provide and We our the difference Direct Customers of tuck-ins annual benefits tuck-in stickiness service operating to through remain already regions density users operating service. Water to a
new Our regular operations shareholders flow return share repurchases opportunities Directors August further is invest and the our Board expires repurchasing in authorized opportunistic our dividends us our an program replaces to that strengthen team value of Yesterday, of The simultaneously will a enable XX, Board repurchase program, of sheet share repurchase long-term and which stock the to through important and internal that strategy. authorized continuing allocation million and balance $XX quarterly and growth. on previously to XXXX. that capital believe drive management Directors cash external part while share
and authorized Finally, of Board XXXX, XXXX yesterday, dividend share, per increase another step-up, which share of dividend $X.XX our dividend the continues XXXX. quarterly $X.XX multiyear our to quarterly with per in a of in our an common path Directors in
turn will to the I call Tom. now back