morning, and everyone. good Thanks, Howard
X% up as segments X, We Slide to growth quarter on reported of to The provide sales overview AUP all due the $XXX price. XX% I'll fourth Turning compared results. XXXX. primarily year-over-year an across in was financial favorable was quarter to net which million, three of a fourth increase of up our
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segment our same litigation as loss action compared net in U.S. the income XX% prior-year, net charges related expected, to fell pension anticipated the a primarily a increased pre-tax Absent that per included the and compared SG&A general of impact and the million recorded in the million to loss charge the prior incentive the $XX growth Selling, of was the and $XX quarter would discrete million XXX than to expenses volume in these lower were period the year. percentage impairment declines was inefficiencies We net approximately the driven absence and $X.XX in to in of goodwill the mentioned. were $XX XX.X%. gross settlement in constraints by higher labor of from two These well than related the as to administration the slightly contributed of down offset to that year. prior-year distribution but year, to AUP period. represent settlement to have of items, contraction. margin points prior-year Architectural last the as versus Diluted $X.XX which of were charges factory As million the compared in sales income Howard quarter combined due compensation, inflation, to items quarter. the earnings net almost XX% earnings $XX fourth last quarter more of sufficient a share of strong as class basis
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noted. benefited to multiple throughout constrained closings, declined to year-on-year plant was price Slide Net in principally million margin business. the XXrd higher in also segment was Adjusted in driven the absenteeism Despite X% the sales quarter end the by implemented the X% Residential EBITDA from with fourth EBITDA prior weather last Howard full-year our American in Let's volume from a XX.X% volume prior demand by XXX period the segment retail up down announced AUP, driven drop which QX, week of the year. well Omicron-related strong for as discrete year turn increases year, Base and previously Residential as North from X% year. $XX X% market points. that spike to results. adjusted increased that events by American in volume North Volume million increased same XX to due basis somewhat an the temporary led new $XXX
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down the in decline in by flex was fourth sharp basis year, witness volume widespread to EBITDA the in year-over-year. and to December. a to by addition affected increase was week the driven quarter the Adjusted Adjusted of $XX the In the XX% our million of in with AUP. prior impact XXX offsetting channel various shortages building Partially overhead XX% and EBITDA XXrd with we ability we decline margin line limited materials coupled from destocking experienced trade primarily in merchant projects. complete builders' which XX.X% was labor, volume labor ability down points, the
constraints. January on market for in labor channel close eye Demand seen have the doors February. in soft remained a and accordingly. But to signals manage ready part somewhat keeping and rates stand demand inventories doors late trade to are exterior early improve we interior costs We already order and for due in
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and segment. drove XX% was an in to door XX, orders decline flow a base better than XX% plans. sales that decreased back in to order the component a the volume in and in new extended Architectural offset components; EBITDA quarter. and segment $XX Moving in to X% outages greater this These systems fourth inefficiencies of of plants; our times. the in up are our equipment ramp-up the loss leverage of year-over-year and three part million result sales spiking largely constraints and $X which related X% by our residential plan of even increase was lead by to Net sustained million the Slide volume production coupled quarter by Adjusted Omicron-related network with an degree production to The factors: absenteeism, quarter in a of supply decrease in of base material AUP. decline third-party affected sourced driven impact the a to main
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for As support continuous and local and to have equipment, resources of up train the operators. ramp we additional improvement assigned systems
our may involves production flexibility you As recall, service of the between part of option to plan out restructuring Architectural locations. giving increasing plants, customers us multiple
We are making on in turnover. management change absenteeism facilitate support but to temporary light elevated needed progress greater of this initiative, resources and
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XXXX. Let's per related XX% and percentage AUP XX.X%. increase full-year and as for XX% the of more Gross Net from base sales to increase Selling, down across points action of the from to cash This from offset working X%, well XXXX. rebuild chain capital impacts as increased basis move and summarize as was lower our variable benefit profit of low chains, steadily by expenses exacerbated higher per safety XXXX, $X.XX. increases share factory net a in inclusive unrestricted XX% form from and levels distribution our compensation. well of incremental pressures On liquidity purchase leverage as million of accruals EBITDA XX%, class $XXX tariffs, year, million total points exiting We low up XX% slightly benefit of to to combined cash for and settlement increase over performance. adjusted of environment and an raw year. flows share and ABL manufacturing growth of volume year, year profit working to growth XX% facility. exchange. from in to higher $XXX year-end, inflation, liquidity the stocks, XX.X% in XXXX. Net debt U.S. material which cash straightforward represents inefficiencies causal financial XXX XXX lower supply flow strong through our last personnel related for charges for to agreement full-year were prior than our $XXX of wage compensation, At $X.XX an of right gross to while for Slide fourth class adjusted EBITDA extremely slide, the by flow of in prior rising anticipated the the undrawn a litigation quarter, margin litigation, offset the was million prior action the capital year, XX elongated the were throughout end for versus to and benefit to $XXX in due Adjusted and compared increased offset adjusted of the Capital up to EBITDA Cash full-year. AUP as both costs labor X% costs. approximately earnings higher related to inflation of effects provide margin Diluted year sales the foreign from partially cash to XXXX. were $X.XX the manufacturing fell summarizes volatile the contracted double-digit of material to Net XX period wages last cash to available by due Slide of prior investment growth the U.S. million XXXX, X.Xx. resulting we absence declined The relatively significant and was incentive $XX to lower full-year, of net and year. taxes the million, a volume basis growth XX.X% operations increased was by compared results in SG&A logistics and initiatives. the inflationary receivable to million XXXX. and and in debt X% due ratio settlement of million bridge, a and AUP was supply million while and $XXX earnings were $XX this partially from million general $XXX XX% in payments of full-year, side year resources $XXX primarily Adjusted down an the administration strategic income support the expenditures abnormally a inflation, was and rebuilding in a a accounts XXXX, EBITDA and prior
continue at approximately We to the XXX,XXX our an purchasing million $XXX.XX. in shares quarter $XX fourth price repurchase of average over shares
As of February XX, repurchase to quarter under million future repurchase that $XXX available our we for a existing announced have repurchased over authorization an million additional million of approved in XXX,XXX has This shares million provides Yesterday, August the in share new we allowing Board of XXXX. approximately up Directors stock of for first $XX us approved program, plus share activity. to repurchase an $XXX XXXX, currently authorization new us additional shares. our $XXX of with
what see have full-year an outlook while our and cash during announced also quarter attractive our repurchase share transaction On in believe million allow the balance take provided XXXX. intend Slide $XXX steady We XXXX. to that opportunity our maintaining organic and pursue enter shares, advantage to first resources growth own XX, as we for of flows we sheet accelerated a to ample investment into We strong of we consolidated inorganic us initiatives. both
home for existing higher repair strong new and believe for healthy we demand North sale historically prompting housing particularly housing we will remain continued fundamentals across inventories the values demand remain which remodeling American serve, market, backdrop, low, markets and activity. where in As are of supportive the residential the
to the market be significant slight beginning of tray disruptions, While markets housing and to concerns our broadly, are current ignored, up in baring flat impact rising the moderating well availability supply will UK, consumer as of as chain the viewpoint materialize impacting starts slightly interest of in any and limited rates cannot is is about RRR inflation form XXXX. confidence. be construction the In which headwinds the slaver, that
which However, throughout under-build on Brexit -- housing the due that Brexit the and pandemic. fundamentals the of COVID-XX long-term we new remain throughout market persistent the to in is constructive
for recent territory likely see markets in positive will months, moderated XXXX, has of in the to markets ABI the continue indicating in As XXXX. has our the remained Index February commercial since in but U.S., recovery some non-residential slightly
saw to chains constraints the to As year near-term. on We related continue an in overlay spike in rates market, our absenteeism. improve of own construction end further. on far but meaningful thus monitor they labor activity demand, the health assuming to factors, ultimately February, and meet production Thankfully, outlook. impact minimal unconstrained elevated we XXXX ability we to of In which view ended influence remain our QX. volume demand in supply, they put in the of the our growth are these these market governor may a demands and we January to start potentially end with year supply as Omicron both the consolidated deteriorated in and
for nearly double-digit pricing mid-year implemented of actions additional consolidated early full-year pricing, XXXX. XXXX the assuming in benefit of at terms of level impact in a and the a both comprised we In carryover price increases are taken
of to and the some extended impact be products. of lead first the of somewhat expect We these price impact our actions the on quarter, implementation of given times timing muted recent in
expect the and logistics expect We're factors, our deliver $XXX a XX% we to continue Based our in than cost we weighted on with foreign heavily price inflation XXXX, divestiture exchange. Considering to by one mid-year sales sales in increases our much in to million the respect wages as improved given low I impact with to to the comps Inflation be the elevated business excluding QX of to these and X% for in QX, and margin quarter EBITDA this year-on-year the across price, in mid-teens, and to mentioned, to margins headwind would versus year-over-year XXXX XXXX. mid-single-digits. EBITDA growth growth EBITDA first of incur historical strong half on with all be net an remain second approach Czech And XX% of addition to lower point approved SG&A on likely drivers we the and or resources quarterly substantial Europe QX, in headwind. finally, will With expected previously We the will of exchange, net to challenging adjusted yield somewhat sales full-year. $XXX annual the are segment. in to inflation important for X% volume will we anticipate range margin of and benefits, as raw million. into year-over-year inflation be norms, overlay assume relative outlook, down well In are price wage be account year-on-year operational the trajectory and as given carrying XXXX. and inflation adjusted to net of roughly impacted particularly point are that sales and expect then XXXX from net headwind half also the a line we a capability. dynamics growth, costs adjusted foreign expecting that invest to of improvement first inflation rate remain higher Taking inflation grow saw at the we to assume to materials in in our in come we in one from
tax accelerated average in of per be will rate the $X.XX through XXXX, authorization. share earnings the conducted approximately our remaining an approximately made February million. of XX.X% share We This program, repurchases repurchase in consider expect under year of be not adjusted $XX.XX planned repurchases that assumed that the throughout or XX.X count the an impact the to based share on range of and XX, includes may XXXX does but other count diluted share
$XX for and service and taxes health increase expenditures capacity, focus $XXX and million million $XXX $XX in in innovation. strategic to XXXX and between cash on expect We and to million our to million reliability, reflecting from investments range capital to product safety
On closing these cash EBITDA Howard million $XXX turn back basis call drivers, million the for comments. of the adjusted that, assumptions for XXXX. anticipate and cash flow we of free I'll $XXX to key With to flow for
