your from welcome and and remain team each call. safe Thank to of time first we to you families Jeff in you, call this quarter unprecedented yours, Thank that to this and attending you Global's Horizon XXXX and you morning's history. earnings healthy who during hope are
quarter. you the outlook and yesterday call it only to we by for that were the our flown describing status since as has the first Time company's seems
which metrics recognizing. that results we taken the that in we had During we described actions were call, the performance
outlook also reflected first for these performance We that improvements. an quarter provided the
were the confident. Our strong has We since then. and relative to world changed How momentum performance. was sales
safety and new outside COVID-XX and well-being health began our employees' We seen. procedures, with the rapidly In and established the early of and impact operational of our adjusted March, virus China as initial plans be to focus. protocols
a to operations, global our steps once ranged operations for to our other we By our again, took our operations most from in flex full to full across reduce short and a level pandemic and operations time which European mid-March, progressed Mexico resizing volume the necessary shutdown level the of virus around further globe. at
spite that they period in more our The today. In and an period-over-period our performed a proud improvements call, this solid during I couldn't performed on on both and results this bolstered during the last provided we and basis of this quarter on to be the comparison. absolute represent operational by exceptionally well and and still generated results them call Horizon team they described
of metrics. So, Turn let's look these at five, to please. some page
our performance improving liquidity As our to a on focus continued cash and company, position. we've
internally our have in hard performance QX. targeted improve activities We successfully refinancing worked metrics cash-related across our for all and on has to executed timeline
a million. significant million XXXX, cash performance. Relative from $XX.X the will cash improvement for the positive generated in reflects the company to you a period same over period $X.X of improvement note generation, This operations in
efficiency through and Working capital days and summary, improvements, on presentation, on later by be systems. posted generated of management we inventory were this related organizational Dennis hand period-over-period enhanced sales hand focus, on details These and described five in will day days, improvements but solid days respectively. results in XX operational
opportunities results, forward. remains going these significant improvement there for Even with
to team related work on Our solutions ordered is performance further working optimal all stream. across relentlessly cash achieve
the both of the This for this our great result later Canada of the U.S. maturity a us. the flexibility but addressed and availability with review for Dennis through the will of successfully we refinancing presentation, result ABL Business increased Credit. quarter, it was in Encina the During company. Again, and details
in generation quarter our a As liquidity a cash in improvement result one result compared $XXX.X facility, great million reflecting XXXX. new strong we the $X.X as improved position for to an our ABL of Again, million, our operational company.
in this, reduction year-over-year concentrated sales generated of $XX.X was The results. Net sales decline the of by negatively month COVID were impacted in across we the million. globe March. a the resulting Despite positive
improvement Operating losses period improved year-over-year $X.X XX% the Adjusted by were EBITDA a this a reflecting in year-over-year in versus in same reflecting $X XXX XXXX, margin. EBITDA period improvement in margin, at basis million same versus basis point XXX the reduced million, XXXX, operating point adjusted by
or quarter, in Actions goods taken i.e. initiatives XX% show value a optimization and reflected where compared the basis headcount periods in supported action and during million off regarding results SG&A severance-related improvement expenses in rolled sold costs of improvement prior began actions SG&A-related these as Operational improvement cost $X.X a XXX XXXX. point to to
of profitability six. the across we we that the page globe. we we expect present Each improvements making our our our operations the for the highlight our Turing return to celebrate throughout plan levels part and time results, to business. are these successes steps advancements are that as We
so resulting With leveraged our shutdowns focus highlight impact, transformation justified to accelerate slowdowns tied or the from wanted we continuous its these and to Lean I and improvement COVID-XX time further downside rightly and much to how plan. on available capacity
continuous and the see location slowdown. government to can in was our a remained during location And for bit week The mandate. operate continued and this we shut achieve quarter. this that April, extremely tied results March during but We down on through a unique that a to review improvements of page, great it Metals Reynosa you focused
suspended the implement being volumes on floor. our improvements customers, OE With shop our advantage of to we applied took significant our for resources time and
scrap, The performed the Lean performance as in would impacted through up solid team Kaizen resulted the expect and impact by basis in that XX moving volumes, presenting plans and by which as The rework, exceptionally seven floor actions. time improvements is events feet well as period this these first facility over for improving the forward. as over globe period. customer in accelerating incredible has space and and evidenced demand transformation completed effective around were square also XX%, quality our during the Labor a for into been improving OE. points, events us satisfaction, you same remarkable positively XX,XXX X,XXX others throughput of overall the summary, sales base bringing performance was In by
to safety change threat. page and and through seven, health recognized methods the to globe Turning dealing Horizon address We COVID-XX the methods rapid and with our advancement severe. to this across and the employees these the protocols and of at need new was early our
We certain during highly as have remained well successfully plans functions and and changes. our activities administrative initiated and operational productive remote work these for effective
within deployed along protocols and safety consistent with are we've with that incremental are our CDC recommendations, operating our in that requirements. those state adding facilities, own For local requirements,
we zero confirmed impacting of have the that our I'm extremely pleased any cases employees thus far. to virus had of state
for We be that place. will have new any continue to we'll forward methods further of will quarter brought continue be enhance flexible that currently improve adoption we our any protocols to in plans and by the
eight, next of actions that Turning to is them. address is on is big The to interruptions highlight surely and of our pages what minds your the business? the the these COVID-XX on two question impact page the impact company done
we would levels reductions. within as The as certain across Board well decisive team one challenges temporary and face team. company all were in actions we at salary stepped a actions taken the took recognizing benefit Leadership the with Were early at that the as short-term a up Horizon, and level.
for of part our not employee together. Each We place U.S.-based our either the salary. and hours or pool. for that is tied of work chose in unemployment our workers albeit compensation, hourly low or employees the to actions we employees, we per any the not week, to base our took and to kept team our to team opted lay-off them hourly, of support We and
their their time. unprecedented critical this protected and We employment during benefits
As well-organized, We team, two crisis goals would through we efficient to restart tied aggressively but the ourselves when would begin. that be second, a set management this position would organized and we activities principles. this shutdown the extremely enter into planning, to overriding our
and employees both our to occurring which excellent the talented done with restart, our lead an with are operational we now. retention and have of position well-trained now We in employees, is
In government over Europe, we majority efficiently the to and our transition employees rapidly very of programs.
level realized with so. roughly up This programs was company constant deployment. completed did is employees the grossing from do to and with their team major European this. excellent a in most required XX this to For governmental where at start an retain part, period the the the it job beyond incomes hours during transition The
operations through throughout, our retail, volume been across fully down have strength even today. demand even channels and pandemic, Board, American our sites reduction. aftermarket, and significant operations continued certain throughout shut our North While our European kept and the we the industrial from never open under impacted The
with along loans government coverage U.S. deferral both and participation secured successfully government-sponsored in in France, and payroll in tax grants lacking and programs. the We
secured This was and leaseholder our worked Europe. through and rent a effort sincerely team partners lease and we us. and closely great deferrals We who thank North those with certain America negotiated across
also up face working up will to collectively back plants that as volumes. address supplier the demands work the Our ramp define stepped us, as certain cases in partners to with to we we capital we full
early Board a into and be across chain this will challenge the jumped and This supply we the for broadly.
stepped supplier occurrences. many us are support partners Our up and to they critical to in us
take to levels, As hard you shape. continue which recently addressed will production pivot the begun to we and do has situation across Board to we've the as can see, returning so to normal
down page additional We and U.S., during relative it on successfully details our nine, liquidity our liquidity refinanced we and and summarized this we utilized to position drew to Turning are to page. ABL taken have operations optimize we the actions as pandemic. million $XX Canada
to situation was recognize was partner taking early the as prudent lending actions Our us. to on we unfolding it that supportive and were address
the issued X% direct interest monthly Horizon which annum A dated loan, payable April U.S.-based million a from the for note XXth, CARES in X The bears LLC, of XXXX, Global XXst, by loan PPP XXth, Division form XXth, Association under The and Protection Act. of PNC borrower Global Company April PPP the Program, received pursuant Bank November On the in on loan XXXX. National is to Corporation at per matures the commencing a April Paycheck is $X.X XXXX. Horizon of XXXX, Title subsidiary
may used described the PPP utilities. Under care from the and are of Funds PPP Act. amounts for forgiven as qualifying health benefits, CARES loan, certain if continue for used used they loan in payroll, rent, be expenses group to the cost the be terms may
its company Act PPP the Small Paycheck the Protection faith issued good asked accordance the in including questions, SBA's the guidelines Administration, and FAQs. by Business frequently loan the The in with CARES loans submitted application Program
and to SBA receive application issued the receipt company's guidance of loan company's loan. the provided the that uncertainty the PPP to regarding proceeds, Subsequent eligibility the PPP
Department from States Treasury our clarification regarding United of the sought have We eligibility.
clarity from continue will other we U.S. new or meantime, the to issued In including relative Treasury, the FAQs Absent we the options the the available it, and to SBA. all guidance by evaluate retention return. assess
loan, loan If the the continue retains proceeds will qualifying the company in PPP we expenses. PPP use to
However, the no be guarantee portion loan any of PPP proceeds forgiven. there that is will
We France. also interest non-collateral low loan a based $X.X million from BNP in secured
million comments, $X.X in similar As certain related as estimated have earlier in in countries. an stated my payroll programs refund we as in secured well recovery other Germany,
in all move. our operating are We in locations to of starting Business volumes. and now globally accelerating virtually are is rapidly
our will away. back Dennis later, take over with quarter it two comments some I now, highlights come I'll CFO. for turn Richardville, but for regarding it closing and to Dennis,
