you report an outlook balance and our that Good Chris. morning, guidance to and EBITDA QX our sequential and showed you, of and thank of the We're improvement. material overview call, I'll margin the pleased in year. we exceeded QX give currency constant performance On today's for
our As we that be with profit is guidance a result, our volatile are anticipated we back reaffirming the continued profit skewed total annual year and Europe caveats fiscal the that unusually to to expect growth half.
into On annual dig now me the our earnings more August, last call plan Let expectations. in our in out results detail. we laid QX
guidance expected for constant the foreign was year given rates. You'll our currency, recall the exchange in that volatility in
specific growth sales While constant QX that margin our QX, adjusted considerably quarter to below would revenue our we which in as line in currency gross didn't margin, up lowest QX. growth modestly in guided, seasonality, is adjusted guided we EBITDA, said, QX. total adjusted normally with the the much first give was and due expected. That than sales be in we better the On guidance on from came gross QX in
our margin ago. In X.X% and America, sales net let To is North operating to which versus also dollars up EBITDA than improved a guided. units. we progress the adjusted Our understand QX, versus were now year pivot better me better,
While this is achieved was less the growth expected. much softening than in QX, we of
that were pulled experiencing we supply promotional disruption. expected, spending as back First, on brands on
brands. our brands, than XX%. on the impressive growth non-promoted higher revenue was growth for six an these result, up consumption priority points total a consumption As our That's
most last earnings the the behind of now supply on disruptions us. call, are expected As
last less as industry-wide due QX. year the shortages, formula after huge in Second, had well-publicized baby we expected, a demand surge in half supply in to second
for fiscal on QX and Third, lost programs ParmCrisps and Care club had rotations Personal we some those in significant XXXX.
being is side. done this half While work deeper was the this those little Digging to much back a on in later revenue in second get anticipated, year. not hard
continued resolved, share for brands Sensible extended three quarter. grew months. the we've net continued the some We the highest XXrd the in in America supply the a quarter, in XX% to to now it in eighth a has were growth the gain last disruptions, quarter units four XX% where quarterly despite Velocities share brands snacks, But in in on disruptions row growth years. Portions consumption a which grow Terra, both in almost again the North had and in market for and as growth double-digits, On Our solid are versus years, dollars. last year time ago. our supply substantially aggregate on brand XX sales up gained
points up than being in addition, QX. modestly we sequentially ago. more North a was was XXX and in after penetration year household adjusted P&L, basis on also considerably quarter, delivered versus quarter gross what of down the In the grew XX% versus ago up versus the Terra America middle year last margin In
were primary margins three Our higher reasons. for
have First, greatly of performance our we internal chain. the supply improved
changeovers. running are factories and less throughput, greater Our better waste with fewer
to issues. resources In from are add more up productivity addition, as continue freed we fighting supply
a we've long-standing largest on supply brand, done job issues our consumption the shipment by as addressing data. Second, and strong evidenced good
on of continue While now been most are supply baby big some of disruptions have and our expected our several formula, brands issues resolved. to Pantry
disruptions these to As significantly. is drop of cost a the result, expected
low pricing margins. in Third, line with assumptions. overall also planned far, the regard North North With multiple we profits relatively to last remain more our margin Thus and America took America. the Adjusted were QX America, after growth margin have decline. in flowed of gross QX, Total up thereby and the improvement In dollars in QX line. bottom versus in in through quarters elasticities year, we the strengthening in to summary, XX% in optimism also dollars restoring QX. North EBITDA versus were continued has up EBITDA
performed overall performance profit our brands improved growth have Our well, has and considerably.
now international. to momentum continued to of skewed year. half expect the We the second Shifting
improvement. sequential some made also We
year-over-year the reported results. our the European our basis on currency, trend. material was constant expected, had QX environment, volatile the financial as a exchange and year-over-year QX sales given impact XXX improved modest has points In trend in progress However, versus foreign
to our struggle As the along the international mentioned, rest continue on of plant-based the categories, the progress previously offsetting business. with businesses
Our adjusted versus our inflation confidence percentage noteworthy Year-over-year that QX, margin is the also high which low. consumer at improved rate. EBITDA UK multiyear quarter. given improved historically has compared growth turmoil, QX adjusted gross lowest In is with is QX very growth margin in political modestly to
to shifting As private discounters. consumers down from are a grocery result, shopping traditional and patterns toward label trading
flattened entire store as UK QX, In You'll the UK recall in grocery sales sales that QX. declined to total rebound and expected. in QX store continued
sequentially a constant basis to QX from improved growth modestly also sales decline a currency X.X% net there on business Our QX. in in
jelly grow and categories. continue growth solid to and brands, largest We share our of several soup deliver on baby,
pricing beverages, what was have mid-quarter QX. plant adjusted sales we In This led XXX improvement units has for benefiting QX. delivered significant aggressive our plant-based of has these business and business created industry, out P&L to are industry increases, aggressively very where which almost by like While Combination the our overall are continued in from point trends of team basis gross entirely Continental declining. similar UK performance our is additional our controls to cost addressed and Europe, the in our the deleverage, price rest costs. stripping margin versus
our While large is shift consumers the in brands from lost continue co-manufacturing QX, to contract the as label, we make and those gains. we to from declines branded progress private offsetting replacing higher-margin volume in customers
As by productivity. we've been costs our UK, streamlining aggressively with out structure the org taking labor, reducing and adding
our go-forward turn to give details a moment, in will outlook. you more me let Chris While
As and war, few. discussed many times, outside volatile we a potential behavior, world, a of based upside downside on things Russia-Ukraine fluctuations, live consumer are to The our name include there control. and just the of inflation, in challenges sources recessions, many currency
and than As QX, job we modest move said, just few did now we'll doing see through a normalizing. we continued Europe. ago volatility In begin expect that expect are total we year, profit the in especially controlling performance. have more visibility some and a company sequential optimistic the good to result, in we we're months a as improvement That controllables
top somewhat, continue drive we expect stabilize three we things. That and productivity. costs by America market, to softening in driven the some hits North line efficiency pricing do the in As said, QX
in on formula quarters. we than First, continued baby to expect we've previous QX in with had sell inventory less shortages
overlapping improve and the and the in QX. shipments not how with and Second, renewing COVID program care weather softening in merchandise set expect warmer category And the we'll to those were We're we the club shelf to season. from due of optimize the our best year. category from hair partners last third, retail the working tea last successful upcoming overlapping we year, to start and Omicron on surge the
second the expect do a several when driven growth factors. annual and we in year, half profitable released we As return we of stated, continued by to improvement the guidance,
sales In label the and beverage good the as we nondairy improve we store globally. brands. business, overall North In UK, expect continue the on to more lap momentum as restoring Europe, strengthening First, to entire our we recently contracts. brands we the realize co-manufacturing expect we In of America, growth growth our taken price. and COVID we on anticipate and the win Continental our private have
more have coming. we pricing Second,
half. to high take last In to pricing, benefit new in the some on Europe, priced inflation, with in Continental increases price full have start this quarter US the which the pricing into optimistic we negotiated new in now, full our January. realize successfully beverage begins able inflation annual We we in contracts not And starting We're QX. of since been that despite UK negotiated and impact will second will get quarter. Canada, contracts we the QX realized nondairy
the our to be of first half it Third, we year and expect input the to still the Fourth, productivity half while million experienced in half. $XX progresses, ramps than second expect be costs crest. digits, in up what savings double half. should And of we second up are productivity million more inflation as than lower we to the starting $XX
at the cost, our Europe for assumptions. the as the done. XX% line Continental half ingredients have in their second of planned about to We subsidize pricing have our has On tradable with release just UK in intention announced and energy, some plan has prices covered
recall eases. second we disruptions us You'll currently will expect of the less Fifth, demand half some we supply relief. the government Continental coverage subsidies that welcome give global in no in as have Europe. The year
co-manufacturers that our ingredients. QX, the summary, withheld suppliers macro UK major in In million the of and signs $XX to we improving secondary lastly, is in performance multiple negotiations and overlaps. In there most are in environment last for the have year addition, shipments now softer back stabilize. And half most easier and pricing business for write-off we beginning given during is our the suppliers the that have
and brands doing that to our believe are our We and continue well. strategy our team
year. the of result, As expect especially in we the half a progress, continued back
turn provide me to over our outlook. performance financial Let things to color now and Chris on more
