I'll good Xeveryone. Howard, to address bulk COVID-XX. of my on and Thanks but the morning, first quarter, Similar briefly the comments focus
as contributor slide net first the AUP to in summary quarter saw three the of the a $XXX growth of first all to we had unit Let's of of as of XXXX. quarter XX of for financial X% our sales business price was compared XXXX. largest X% million, turn across our year-on-year We increases results segments. up Average
an Despite combined X% million roughly and first returned COVID-XX, of business estimated contributed was decrease net related by quarter. North American in unfavorable headwind volume or the as offset from our foreign X% X% exchange. additional of Residential $X the partially growth positive sales growth to Segment year-on-year base a divestitures an to impact
We results was prior had Gross This along with driven up benefit savings gross XX.X%. XXX material with almost the XX%, was by growth projects. gross versus basis cost of profit performance. AUP, strong the excellent primarily exceptionally with profit expanding and margin year to our margin points gross
Absent related $X to spending a sales XX would $X dropped of to compared than up a higher the net the explained basis prior million costs SG&A lawsuit. by SG&A year, more in increase points. legal have costs, approximately GRUB by as percent was legal those million
EPS adjusted charges XX% and expanded which restructuring while EBITDA the to quarter in XXXX. of million, basis for of the compared the EBITDA to XXXX, over approximately the as quarter points in Net $XX margin million related $X.XX, $XX $X.XX, of excluding $X the million of was first of in to to EPS charges impact $X.XX related This first in U.K. million the Diluted to Adjusted previously $X XXX the million, announced to while XX.X%. adjusted $XX income restructuring -- increased adjusted compares was quarter excluded divestitures. fourth EPS impact in was first plans.
of Shifting American the and a a slide segment. growth first although driver to we higher also primary North the were realized our net volume right again of the benefit EBITDA this from bridge. quarter. adjusted meaningful AUP Residential Material in quarter, the in costs tailwind was the
initiatives offset to their to sourcing offset global approximately strongly material inflation. savings, as continues Our of allowed cost X%, team execute against very to commodity to of us inflation This inclusive more an tariffs. drive than
the of the be last of year-on-year XXX will Section lap implementation the will date see May. final The quarter in XXXX, second we the tariffs quarter impact we as XX%
and realized along favorable quarter to higher labor our disruptions. ramp-up in deleverage Factory quarter, the incurred sufficient we inflation due initiatives facility wage to productivity, costs. to Savings and principally due restructuring from were and volume relocation of impact late fully benefit costs in were with offset the the COVID-XX
higher existing the remained quarter we XXXX, retail Coast. customers West first to the costs versus the better service to shipping lane on calls noted that changes Distribution due of prior on
and Turning AUP. stronger our and also American increased only segment. base compared increase prior to North Strong XX higher Residential X% demand sales almost volumes, year, a over market AUP. in Net primarily the drive X%, to slide to supported base volume due by higher end helped X% not but
the the helped throughout we our X, following Given strategy increase successfully anticipated. more demand strong than February implemented pricing new realize us price that originally on quarter the
and exceptional XX% was with coupled as in margins basis from performance more points. new prior another supply sourcing costs than adjusted start-up savings quarter. teams related operations with XXX of segment was savings, the solid which the had chain roughly million AUP than restructuring projects. due to offset $X EBITDA segment XXXX year which Margin our expansion to The We delivered global performance, the increasing factory quarter higher higher primarily benefited
of U.K. driven, the segment. XX% XX slide sales decline by the was year-on-year of impact and half a part to demand the directly by our later roughly of divestitures. the declined primarily X% COVID-XX in which impact the weaker builder remainder March, Net Base approximately Moving of to volume in Europe driven and related by X% channel. from decreased
these Foreign was slightly X% of declines quarter in expansion. another meaningful quarter. adjusted Europe Despite net sales to only to headwinds. growth EBITDA decline exchange down was contributed AUP the approximately margin net X% in in the strong partial sales, of a delivering offset
non-core basis higher well margin prior as AUP. period divestiture the for as higher year the year than U.K. EBITDA XX.X%, XXX Adjusted quarter same last of reflecting of points benefit was the businesses
first a slide to to more well the in segment. sales richer Turning from higher to in XX, quarter, half higher as increased the projects on as and the XXXX, principally from pricing product of complex Net quoted continued first which due Architectural benefit value by projects. X% AUP, mix
first We base X%, as more While complexity volume largely product components. production an it base this in in is quarter down AUP beneficial with projects higher slightly generally greater observed from headwind volumes delivered capacity. complex standpoint, can This offset was approximately higher the absorb door Canada. we by sales of
the of XX% offset strong delivered costs EBITDA year This growth adjusted quarter. margin business. increasing the than result expansion by due of I Architectural higher-margin in Adjusted the example margin facilities. areas as the to Margin EBITDA quick-ship AUP, larger basis to enable moving relocation of operations primarily investment further two points. our a noted an is to continued existing earlier, was was in higher EBITDA higher partially XXX and prior adjusted with
operational made earnings we On we in to number we fourth call, actions solid the XXXX. issues out taken our we Lastly, issues. the last of experienced a progress quarter of laid address on had the
to it's across were our the victory, While too U.S. architectural claim productivity we large improved see direct all four sequentially to early of assembly labor plants quarter. in pleased
purchase receivable balance On or including see million liquidity, of March can our the sales slide unrestricted XX, of cash undrawn XX ABL sheet. net and quarter $XXX our you agreement we with strong was a Total XX% XXXX. as trailing accounts facility available months XX, exited approximately and
repurchased the shares repurchase suspending to March million $XXX at million share in our adjusted and leverage approximately quarter program quarter. temporarily to debt the on first XXX,XXX was net XX, totaling $XX times. X.X ended debt with Net we Prior EBITDA we
thoughts like and the impact the COVID-XX I'd shift annual of withdraw about the uncertainty focus temporarily Now, and The depth around environment. speak to our on pandemic's length us to outlook. navigating led current our economic and
the to we at uncertainty the end is since changes downturn can to company that outlook, rebound have in Masonite, when markets deal that quickly surrounding better the to intent an visibility year we effectively of meaningful positioned present Despite the believe Our we how economic demand made timing recovery, situation. serve. last an full updated near-term with and the factors, these provide the
XX, has how slide time. illustrate On outlined that since of factors Masonite number that a we've changed
First, entering footprint have to we before XXXX, the leaner compared in a considerably housing market downturn prior America. North
a in Following take have the establishing Great path reviewed to countries did footprint not purposeful we our Recession, took and exit we and operations global to offline a capacity leadership position. actions where
reduced in closed operations building facilities, stronger U.K. This XX% in actions on focus facilities, platform a number number shuttering of result others while reduced has much of stronger and this the efficient over of American a distribution Europe, more these more greatly the divested countries global sheet. as our and the in numerous we as XX% operations decision The of period. decline or led manufacturing headcount of This North our in also to financial footprint decline well Similarly, of a virtue Continental our than with to all operate has by leveraging XX% almost we in. balance a our much by position yield the MVantage is improved coupled
in XX% long-term costs that XXXX mature that total represents outstanding with in two and Our cash unsecured XXXX. debt $XXX tranches respectively. than in of currently and XXXX are a includes debt million bonds, lower This XX% debt over reduction service
it. overall and difference within of key Another our market the housing is the position state
a quite of indicative great different, higher resting a cyclicality just seasonally X.X We were housing rate environment before approximately of million million in the annual XXXX. not adjusted recession, XXXX, downturn market. units two with in considerably on today the believe in dramatic in demand is units current ahead the XXXX at starts going trends into over Housing peaking at
there We still in of growth concerns shelter-in-place growth also as starts health strong and robust the evidenced orders buyer quarter first year this behavior. in housing, further implementation fundamentally platform believe is ahead by housing of broader for a that in impacted the
uncertainty. Finally, us our to offerings weather position portfolio better of broader
market business, our us economic segment. our cycles. In addition these transformed strengthens that to and by in to to believe various out verticals executed our markets across each construction in U.K. across we leveraging North the America actions business non-residential similar Architectural have efforts build acquisitions way create to compete a serve within strategy to a We better
Turning now to slide XX.
recap actions of our and actions we've cost planning. part scenario some future contemplated management the taken as Let's to-date, of
to around mind, travel reduce the governments travel As the spending that economy it training spread globe began became apparent and global both activities in expenses restrict halted all we safety be eliminated health except training. compliance impacted. cost essential and the and to of negatively the With virus, and would non-required
our for regulatory critical open critical prioritize projects, and reviewed employees investments scrutinized. safety deferred other capital and increases maintenance, our We all carefully be to and positions. we hiring limited spending and capital will salaried We merit prioritized
a the temporary of the retainers levels manufacturing Canadian-salaried including was of reduction This to the cash the and across engaged larger preserve Directors. to As stringent and pandemic in our U.S.- entered of cost Accordingly, economy implemented broadly all effects for and we base XX% pay a April, spread of more flow. impact implemented liquidity have organization, actions to not our we saw included directly Board the paid actions These reduction we the business. on more operations. employees all cash
the temporarily majority vast to partial our idle decision continuation. those facilities, countries, we of U.K. the employees and while manufacturing our providing in furloughed wage Given Ireland
be business or segments which reduced corporate all spending Additionally, functions plans identify operating expenses, to deferred. could our their revisited and
face While feel employees, given maintain in market to financial of on the conditions. were were appropriate steps stability impact very decisions uncertain difficult our we the these they
knows us business a cost sliding developing that of in events for has ultimate conditions Our as and that one a across of functional that lead actions. triggering a well We business understand leaders potential downturn, prudent. those to as created is With actions scenarios. number us incremental outcomes finance depth mind, length our variety scale economic the would or -- implement of yield modeled team the no a thus playbook of
and range period. to each, considered the and In broad products downturn the would for in from terms, quarter, an scenarios extended take demand rapid beginning deep actions for recovery second In we scale appropriate to business later a that of capacity the the impacts size for a demand the protracted we our outlook.
from growth in taking rebound refrain actions to would risk we're and recovery our we margin investment to drastic between the of trend delivered for quarter. first company's of the ability appropriate impacting with quickly the clear, the threading the an maintaining be on revenue too with the and To health return in end scenarios, the all markets in level near-term, long-term we managing needle the costs In company. focused and
as as XX, structure move where to on well COVID-XX. context and related to liquidity slide further our cost Let's I'll considerations provide capital the of business
variable labor. taken actions Using expense, which manage with be is are approximately our our And therefore COGS fully of factory goods our full be majority as a estimate COGS would our considered sold structure. XX% as a approximately distribution total, direct XX% is Thus costs, goods the proactively guidepost, overhead majority is highly the Beyond In of would XX% with to COGS we sold which fixed. of we a of expenses, variable. cost fortunate of would almost levels. variable cost expenses, to XX% is that results direct COGS remaining non-cash production have two-thirds be material, Approximately including of variable. of XXXX such while depreciation of year is roughly associated
and cost recognizing us changes certain the labor costs in be there effectively rapid changes production. demand affords upon This time, can in structure overhead delays react to to ability in over flexing
playbook. management we've of I our modeled variety As noted to develop earlier, cost scenarios a
from sheet cash test detailed our to scenarios stress and also balance liquidity. We flow these developed projections
and alternative our zero yield is full a sources quarter, point prompt of cash scenario liquidity. believe of we Our would it likely that revenue long would to to company-wide seek indicates, require as burn as for rate a this unlikely analysis a full us highly a idling at operations
of a maintaining at and momentum on some our of during as center the majority regain emerge we quickly to said, COVID to strategic focused least is position that as be thoughtful typically goal slide, is projects, affording to meaningfully strengthen the from the us where required. the we our spending it if spending important capital downturn growth-related plan strategic reduce to it's flexibility possible, our note to and crisis. That Shifting about
In addition pension of we repurchase to $X also the our temporary discretionary XXXX. suspended XXXX to share which U.S. suspension million and both contributions our in plans, activity, totaled
right, additional create Shifting downturn detail taken significant that as structure, to to the some regarding during our such a knowing liquidity profile. foundational serve steps times well or strong would capital us these. We've cyclical a uncertain
are no our with debt unsecured leave combination bonds undrawn ABL covenant-light, which in outstanding. us Our with secured and
our capital we are so the scenario decide indicates, that believe access further, unlikely need we planning markets to would is do current prudent. highly it's we we should While to well-positioned
Before me in I close on out perspective my offer the business performed April. section, let how additional some
but to net company due idling sales dramatically across of saw meaningfully in region. more temporary the noted we that earlier, Europe in slow the Howard As operations our segment most
to said contain the to we topline steps maintain costs. we in double-digit part April due able margins our the despite took to That EBITDA were impact to quick in
volume it's we particularly progress to decrementals retain through be may to if difficult as and it this growing experience reasonable result. at we only weaker level, a quarter, As more the assume declines margins
XX% of to remaining ABL in end liquidity and available We million with undrawn even April March. up $XXX the standpoint of from exited a total an compared position our stronger liquidity
sheet about cost and company we summary, capital structure good levers the have to the current balance and feel the the So, to provides storm. our we in flexibility the of manage weather
closing turn Howard for it With to back that, I'll remarks.