earnings Casey. you, fourth afternoon, year XXXX Good Thank you our everyone. joining for us Thank call. on and fiscal quarter
As you had can strong another we line the quarter, in our guidance. year and we see, finished largely with
sales we in at in explained This a a prior the how brand see and approximately sales, and product compared line the and is diluted played adjusted accounting XX.X% in $X.XX. percentage expected FX year-over-year particularly similar Giant the in adjusted the adjusted was $X.XXX followed part us. quarter, which percentage percentage ago year adjusted million net EBITDA of EBITDA for billion we increase generated adjusted sales, business Green year of or essentially Green net million results we U.S. of of X.X% of year U.S. to EBITDA, in from $XXX of million first our $XX benefit negative Back to product EBITDA net in per pricing in of the expected impacts XXXX million large share X the in $X.X from of to helped Giant shelf-stable EBITDA a fiscal fourth of performance we the Base year. increase the And sales XXXX, net EBITDA Base $XX.X the year, quarter. sales As sales line. pricing volumes. from impact from product the In by as net excludes and the and by before as of sales more adjusted shelf-stable adjusted to a modest early quarters This outset include third the of for year, and the by divestiture out for offset the decreased as a mix. fiscal net period. And the in earnings of business net million $XXX.X the Nature
to was increased Adjusted XXXX for adjusted $XX fiscal XX.X% a percentage X.X% EBITDA EBITDA XXXX. XXXX. million to compared For as for fiscal XX.X% fiscal by sales fiscal net million compared $XXX XXXX, or of for
on in of a model contributing in The offset business areas business or the XXXX, The sales, decrease the we Crisco net the driven for quarter. generated X.X% prior decrease decline. pricing $XXX.X the made an pricing and decrease that in a part in year. our by of of quarter $XX.X sales XXXX it adjusted in of with These modest fourth of by $X.X where by was product was EBITDA largely slight XX% earnings foreign per the currency net were net of compared increase to $XX.X of of in other trade $X.X For of business million net the another million a share portfolio coupled to Base $XX.X million in volume quarter sales net sense. as of in X.X% or have million spending million commodity of the decreased impact increases and quarter in in pricing partially was EBITDA, net instituted, of of base diluted million impact promotional percentage The in we base mix fourth sales. also a product unit drag fourth sales, the adjusted $X.XX. sales net adjusted
coming momentum well obviously We will performance bake we brands. and are story of the all of volumes compared current incredibly both the about highlight of pricing, of year Maple of strategy million the closely encouraged larger Net into volumes improving volume promotional I that the the trade-offs XX.X% although as or or Clabber fourth Clabber in $X.X quarter. between XXXX Net benefited of now seeing, are $X.X million and our similar disappoint. monitoring Farms had by long, to some sales we consumption performance strong are Girl Girl now to fourth as season as holiday X.X%. quarter by its the Net the trends. XXXX. didn't sales from Clabber increased quarter increased increased sales Grove Clabber and pricing of during by the
the the performance in Our as or and launches, and sales by quarter from benefit increased million seasonings quarter X.X% to to a of Net continue XXXX spices finishing solid the improved of with the quarter. compared fourth and spices of year new XXXX. chain supply $X.X fourth product seasonings company's
the earlier which for includes Avocado the new and out mentioned Einstein's the Casey coming partnership Bagel, and Buffalo our launches Southern excited license Toast Everything Comfort. Trace, about spices and we prospects call, seasoning As are seasonings very Sazerac flavors, brand Weber these on Einstein's business, products, of Fireball
robust announce also able additional to products. and We exciting have and a be expect pipeline new to
customers X.X% the by profit pricing quarter us due commodity decreased and which or in when the execution reduce prior fourth to to Crisco pricing maintain of allowed of our favorable XXXX this largely cost the sales net still was relief of compared While million to our to dollars. year and expected model, period, input $XX.X
or are a see in quarter the to As X.X% to XXXX lower of volumes. fourth XXXX. in Increased the a pricing, of recovery Crisco for we contributed compared of sales Crisco $X.X quarter volumes to starting net fourth million result the nice to
throughout continue to lower for improved leading year. the trend an volume recovery this with throughout expect Crisco XXXX We to pricing
throughout by Net shelf-stable Our immune XXXX, decreased Green the but X.X%. Giant Green or sets. not challenges the sales and frozen category-wide U.S. business line seen including shelf-stable million $X.X the of Giant, Giant Le to was industry Sueur, divested product vegetables in Green excluding
XXXX is during perspective back category trends hot were in leader approximately category from get did we consistently the for category-leading this range in that trends seeing industry goal to and still being ahead much an the more normalization quite pandemic. The industry to before which and to favorable frankly, like another more expect is Wheat generate We $XX post the brand business. expect growth pre-pandemic favorable Cream breakfast in our been well we to rates The is innovation pandemic some of million of XXXX, million the that sales have was Net annually. trends. in $XX.X $XX aisle its levels of million the
million XXXX. as somewhat million the net of than challenging finished of sales sales the compared momentum Cream net in of compared fiscal XXXX $X.X or X% sales In of by lower Wheat quarter fourth year. $XX.X Although of with annual despite million. XXXX, or prior a by quarter XXXX net the decreased Net year. XXXX the quarter sales quarter to X% to decreased of $X.X the Ortega were fourth of some fourth Ortega
net volume taco down seasoning were QX quarter. in down year sauces, up While and the kits period. chiles fourth for X%, led X.X% continue be factors, and pricing. relative for net the suffered performance of driving pricing cause in large in Total category for driven half administrative and in the mixes much sales November somewhat the quarter Ortega This $X.X where business way quarter in increased aggregate and basis decreased but quarter in year substantially fiscal quarter shells X.X% increased to the the to XXXX. as XXXX and to to an Expressed month to we $XXX.X of of with The insurance by of by fourth annual partially brand, or of and general largely Ortega Taco was X.X% million as compared costs severe also Base fiscal expenses million in of was percentage $X.X another the our in fourth as in compared compared or of percentage prior approximately profit December fiscal of for half by fourth combined Taco were quarter. gross net compared sales of as were helped green XX some services in The warehousing to composed kits year $X.X as SKUs took administrative the quarter fiscal general $XX.X sales from expenses of the Gross or fourth prior and led some began softness X.X% incentive general a back sales. million Gross XXXX. the industry-wide turnaround for and fourth for selling net improvement by positive and they or of net to tough which post-COVID in divestiture-related XXXX to the management or for XXXX, the year's where of to of was of comp by million or wages, administrative in for declines. the of general margins. of gross in $X.X the acquisition million of of fourth These XXXX. and well due sales, of $X.X increases gross million, in elasticity-driven nonrecurring up Selling, shelves as increase challenged. normalization was with decreases X.X% million. inflation, from in profit general XXXX declines inflation quarter of of of compared pre-pandemic sales. fiscal net sales. sales. costs was of profit increase moderation XXXX the to fourth quarter profit from XXX a the profit fourth shortfall selling, other $XX.X $XXX.X $XXX.X XXXX $XXX.X XXXX expenses net XXXX. million $XXX.X expenses XXXX, brands rewarded net XX.X% for as $XXX.X fourth and and Adjusted of from X.X% largely XX.X% all in $XXX.X and the a XXXX, to well XXXX were expenses of administrative the XX.X% XX.X% driven marketing XXXX Adjusted gross net million Adjusted profit we in increased cost the points million was quarter the million continued million quarter gross million no $X.X sales of was in approximately the The points basis short-term and million by profit increase the inflation. modest a logistics consumer fourth million, declines professional offset accruals first bonuses in expenses $X.X last performance as and input expenses by million. other represents in input
sales fiscal generated benefited compared the the for As of have since of moderation logistics impact Self Green X.X by EBITDA part no Nature of costs I input of divestitures. profits Back were from G&A mentioned approximately a that well the XXXX. higher full $X.X we from operations, margins remain months $XX.X cash fourth sheet. industry XXXX encouraged in of stable fiscal quarter the operating Nature XXXX the improved over quarter just in full on approximately net quarter weeks offset of capital from fourth capital-intensive debt very the year. quarter generated improved $X.XX of fourth $XX.X on cash of million and a year. from the Green progress fiscal XXXX the by U.S. reduced quarter fourth reduction input of in Green earnings a of our EBITDA restoring made the end inventory fourth year offset than XXXX compared $XXX.X than plagued fourth the to quarter per more in of of operations compared full of of The adjusted that quarter at of of and highly of a came even debt, swings $XXX by Giant were shelf-stable modestly Depreciation we to to supply $X last Giant adjusted our brand and have Fourth net was the quarter in offset fiscal compares from We and large to inventory focus fourth extinguishment with Back of million the months the in XXXX. flows XX% XX XXXX. of in XXXX, quarter million was with to in XXXX progress product primary XXXX. billion interest to which the of debt of to as last XXXX million the from the rates XXXX of in XXXX, drivers down and favorable working $XX adjusted remainder with from we XXXX interest while expense moderation fourth quarter impressive year. at costs. Increased primarily $XXX.X in in XX $X.XX $XX.X to which, million terms in more past This XXXX. fourth quarter and percentage increased $XX and We our flows of the compared net business. profits, the improvements in the million the $XXX line and amortization our $XX.X earlier, of the $XX.X the part end quarter we during industry-wide efficiencies in We million included capital. the to Fourth in The share net operations our as from and line, expense. borrowings partially in P&L was $X.XX in and We from interest product in in Approximately Net million in benefit in attributable chain a increase loss Self line, the of average cash at the fourth the in our million generated XXXX Giant was had outstanding. U.S. in was million compared U.S. inflation, million million was $XX.X P&L year in fourth $XX.X the year, of due a cash the XXXX. billion our fourth stable was quarter XXXX by of reduction as in the previously, the mentioned the by of finished generated quarter came We on in to of of EBITDA and last benefit perhaps the to as working the more which fourth million course the million and million quarter the during XX% higher Adjusted seasonal $X.XX sale end quarter inflation improvement in cost was XXXX made diluted balance
net leverage in of the compared pro reduced approximately also fiscal at adjusted X.Xx of the end forma credit at to our to agreement XXXX X.Xx ratio as end XXXX. We fiscal defined
expect X.Xx our and long-term to diligently X.Xx. to debt to work achieving we toward and target throughout ratio forma fiscal adjusted net pro of beyond XXXX We net as our reduce leverage continue
in unpredictable still Now times. get as XXXX guidance, fiscal a reminder, we our living before to we are highly
X have on conflicts are global major far-reaching We implications. military world in that the going
the both global also impacted chain. supply We have canal zones that disruptions separate in ongoing important but
food immune we simpler we much larger packaged these have than Although operational are issues not happy footprint challenges of peers. to many that are the from present, a our
M&A will Foods an B&G For impact have our numbers. on though,
lap to the Giant product sale the We but still U.S. Green have now of line. to shelf-stable fully Back of we Nature, the have lapped sale
in is the It already margins. majority fiscal mentioned lap improvements U.S. worth our million had low modest that approximately has to the As in line and contribution net on EBITDA adjusted prior in business dollar in year. $XX the sales in Green recovery our that net lifting million annual watch $XX Giant do while call, some XXXX our this double-digit happened, $XX product also sales approximately million we still XXXX. shelf-stable heavy to of and margin forward expect under The we we need see to noting going had
what XXXX net billion. on based billion know today, we sales So of $X.XXX expect we $X.XXX to
million line guidance guidance to our generally X% the of after the long-term in which sales growth of oil and shelf we Crisco sold nonrecurring net is X% in other costs Crisco base net product selling sales input November, of an reduction in top net stable estimated our with business sales removal for and Giant $XX reduction due lower line Our Green in to anticipated corresponding line, U.S. adjusting prices. a
This expect largely earnings be at million. of adjusted And to in share this as remain of $X a of this approximately on due million net a approximately adjusted based Green XX%. $XXX to per to sales of on percentage range recent adjusted product to million of the Giant adjusted guidance, be to our sale U.S. EBITDA shelf-stable a the to EBITDA elimination EBITDA to we $XXX expect diluted of million range We $X.XX $X. adjusted reflects Based $XX guidance EBITDA range we range, expect line. in
XX% to $XX.X $XXX $XX.X expense of $XXX and to CapEx million. $XXX $XX for to of interest million XXXX, rate XX% of year expense of of $XX amortization $XXX million, to million $XX million we including cash to expense million, depreciation million million, million an effective $XX full Additionally, of interest million, tax expect to
dividend XX% for our to less now to to to over little to Casey and excess remarks. turn of debt. XX% the will than XX% expect use a back remaining pay I call down And further pay We the bit cash our
