morning, everyone segment of strategic and performance. detailed will you, morning Thank our fourth call. an and full the consolidated year us including then over financials. the quarter achievements, I provide to good today's on This year's Drew, commercial, and go I'll overview joining operational financial highlights
earlier X-year and our commitment performance dedication been the to daily resulted full apparent year-over-year improvements facilities have that like a high our adjusted the and initiatives that would And individuals getting to I employees recognize basis. we and today. EBITDA. operations done Their manufacturing Throughout we the their job on in year, want results are delivered I and are the the the year sequential to a work off, our to improve financial enacted reported in over First for hard past year. thank and we
end record the Fire exited apparatus we driven within of Amlin order for year and the a demand in remain Municipal fire Emergency in ambulance and the for groups. quarterly fire markets a & Elevated backlog, with XXXX billion fiscal strength $X.X record intake each the segment. robust, resulted and by both
pricing While remained for revenue X past We businesses, pricing has above demand improved higher, has the for XXXX. selling of well municipal $X.X of reliability over prices and actions portfolio. believe units us these across actions largely of demonstrated REV F&E our base trends benefited in each historic Fiscal backlog, for is execution positions also billion the place backlog put XXXX success from years. which the tax
segments As calls, the the we and Commercial within have enjoy XXXX and in past pricing early to into we're Recreation tailwinds XXXX. fiscal noted first fiscal
new reception our product businesses with XXXX. in the to Recreation strong limited The and emerging margin increased lot XXXX-mile pricing, increases the In the relatively to street of manage industry benefited and market school challenging of short strong backlog bus, low price from a volume contributed cycle, also the terminal from the allow performance introductions benefits Commercial segment, XXXX. Collin as Commercial within which the we year allows segment market realize Recreation and production combined efficiencies segments. sweepers exit leverage enacted through entering previously for and a to inventory segment trucks a Improved year,
similar to begin production increased realization group second experiencing Fire Within ambulance segment, rates price we shipments the fiscal expect Fire in in the Group Emergency from half and shipments improved fiscal & tailwinds of XXXX, the in resulted XXXX.
group pay-scale increased programs of to adding Within at plants. production of to businesses making an invested our targeted the support many by rates head workforce our gain-sharing we in and year, adjustments expanded implementing count
and for local more have the effectively minimizing resources these of Managers success and worked training the designed improve recruiting to support while To management in inefficiencies. workers expand to the teams human onboard investments across people, have for a programs our of reduction enterprise in all the skills turnover practices the These segments efforts best to voluntary turnover contributed XX% shared required in REV in hires. developing and and Group total. a reduction new
to We these an and line continue XXXX and and expect training in fiscal higher will programs labor new employees REV additional bottom efficiencies rates. hires, benefits to production them through provide current increased
convert conversion adjusted conversion of with we year of versus to In cash continue and XXXX, sales improved to XXX%. full the free net fiscal earnings cash XXXX income to
paying of use third The and The debt reduction improved disciplined facility. our conversion debt targeted interest of was in $XX environment range capital Exiting leverage of of we net had the result XX-month credit under in and adjusted We ABL just by year, availability down increased the EBITDA to of including demonstrated uncertainty. debt net trailing an to our X.Xx, ratio rates X.Xx. balance of rising consecutive year million an XXX%. sheet, greater than economic a well X
the to use remains cash, we look reduction debt meet businesses ensure portfolio review at primary to they and that long-term of our continue opportunities, inorganic and objectives. existing Although organic our of we'll financial
buses, within price by consolidated sweepers and fire in increase apparatus mix by partially increase by partially the actions, offset and an and due turning was to of was F&E units increased or the The increased $XXX year ambulance, XXXX. X. offset versus apparatus. were mix and within XX% shipments sales Slide The net of fire pricing favorable municipal F&E ambulance transit trucks in segments, the an primarily of Recreation primarily decreased buses. and to shipments a The fewer on increase unfavorable a result offset result million sales segment partially sales and unfavorable segment increased primarily increased of sales fiscal Commercial street of realization, Commercial Now Full mix segment. school sales terminal production of
price and segment or segments, lower adjusted offset by realization. in primarily increase adjusted discounting million and result trucks and selling buses year sales in lower fewer of in The of price commercial unfavorable F&E of increased an partially contribution increased was due increase that of segment municipal shipments offset price Recreation in shipments from unit primarily Full to decrease a and street the a a $XX unfavorable certain carried due of increase unfavorable offset partially was transit of terminal school units partially result increased mix categories, segment fire The favorable mix and Recreation to XX% consolidated was mix a of unit sweepers units, contributions an units gas relocation EBITDA partially F&E by in and was and inflationary year-over-year. segment. by the The of from volume, EBITDA EBITDA Commercial higher The by to related mix ambulance buses, primarily branded price KME lingering the realization, inefficiencies EBITDA inflationary pressures. realization offset pressures. manufacturing the and
decrease unfavorable The price an mix offset inflationary Recreation and shipments discounting in segment realization. by gas and was events pressures, increased EBITDA to fewer of related unit partially
move detailed the the manufacturing X. we to financials. Turning I designed year, implemented Slide increase Throughout and to throughput programs will on provide across efficiencies highlights to improve quarter organization. segment then fourth and
the from X.X-year unit sales by high as the sales the were significantly these higher quarter the of prior and net were than increasing year. delivered by segment XX%. increased reach the the both programs Group Within that Year-over-year, Fire fourth XX% demonstrated shipments a F&E XX% in fire quarter, benefits apparatus
Group increased largest the XX% industry most its technicians, service year, responder third Commercially, to sales to approximately commitment and community representatives the and Amlin demonstrated XXth Group the level at Truck individual and customers, near increased remaining were testing in-depth provided nation. over center and Fire through prior X-year operators, our training and XX% driver quarter engaged XX The combined with a XXX manufacturers, responders dealers FTTC REV net unit training groups. the hosting equipment high. courses our X by businesses Annual the versus days. first The the events conference, to first shipments actively in Fire training dealers
Attendees level world, transport to the a X In event fits met Critical techniques. issues suppliers REV care latest and for brands learn Ambulance ambulance to when education care The patients accommodate emergency customized specific and of are patients. required the considered service critical transporting an with patient for shelf requirement. REV's care ill critically brand providers equipment or highest transport example ambulance address Group at were highly leading September, fulfill extra condition maintenance the worldwide. critical to injured case of is in designed Coke wins capabilities the the EMS of any one-on-one troubleshooting and most customization the
the served Senior Zamansky that, joined Counsel the same has I to as Secretary. company and he Titan President, President, Partners. Ester the Americas served Secretary Minerals announce title Prior of the as Steve Finally, Cooper General at and of Vice General Tire. Counsel previously Senior Counsel Energy that and Vice pleased to held Steve am General
across the matters, Steve to leadership Group overseas governance executive team ESG on addition and In initiatives companies. corporate REV legal sit will and
I the thank his with and look fiscal Robinson first past be Robinson, Steve I contributions several will Paul REV General working Steve Group. to forward through months. Paul Counsel over the will like Interim Experience transition provide contributions our the quarter. that positive company responsibilities to would to to to for the
of offset and to of I increased realization. consolidated quarter shipments by the slide higher results. million to deck or and move quarter F&E XX% sales driven of a in financial segment. was the segment buses the $XX school segment increase The review Page fourth as compared sales sales shipments of turn Commercial lower fourth of million to X year. sales Commercial partially our higher Recreation prior Please $XXX within Net to benefit from the continue by the price
of shipments of Lower and sweepers However, were lower-priced mix recreation terminal unit across partially offset price unfavorable by result shipments lower unit an transit primarily in gas categories, realization. categories certain of declined sales units buses all trucks, street sequentially. discounting municipal and a
segments of partially last Recreation in offset Consolidated adjusted and EBITDA groups. XX%. Emergency million initial businesses, the realization. increased specialty profitability in & fewer Ambulance the transit improved contribution primarily increased $XX to year F&E Fire results margin includes business. $XX mix, decline inflationary EBITDA increased from improved partially lower contribution adjusted net versus Commercial bus segment. and related the recreation an the and a Commercial Lower Higher both segment from by year-over-year shipments, offset benefited EBITDA Fire with the converted discounting, in XX% by of consolidated price was by Increased offset partially sales or from segment pressures from contribution incremental contribution school and unfavorable million
Page Moving of the X deck. to slide
fourth shipments and fire sample prior quarter ambulance Fourth Higher sales to units content price units fourth ambulance our of compared of apparatus primarily plant to & realization. from year. review records a will the We million production increased chassis segment in fire of Unit shipments higher of Emergency net increased center a largest our study results. apparatus acquisition earlier, high of X-year this our due the $XX mix and quarter Fire excellence spring quarter were mentioned at XXXX. sales reaching segment and
The F&E quarterly net was increase which XXXX was inflationary an adjusted higher apparatus adjusted the the within pressures. $X.X unfavorable EBITDA in strike unit little quarter million UAW posted partially $XX.X and of offset X-year shipments, and of volume of on result a fire primarily resulting was ambulance high million of fourth resolved group, price quarter by our compared realization, in fourth The to quarter mix favorable another of strong ambulance a mix XXXX. the in impact with EBITDA quarter sales. segment
in production quarter. profitability reaching mentioned XXX high. year place the year Fire a the dollars a within versus value and efficient improved the a creates inefficiencies on points production plants. number prior use and to adjusted past. realigning Improved programs completed profitability basis higher more great volume, a largest factory starts several in the sales high Group points XXX daily Group, improved in earlier F&E in utilized improved line, mixed complexity production EBITDA slots of stream space margin a even due manufacturing dedicated manufacture drive X.X-year brand sequentially, plants were Across put completions. and to Fire key and related basis a running and resulted through higher which campus now was by infill and a milestone to reached versus the to realization We focused our management of throughout primarily price to efficiencies X-year
performance unit X-year obtaining in back year rate profitability while and X-year group reflecting with of adjusted high in to actions. The high both compared XXXX, group resulted orders year-over-year, to and XXX year, in and the margin provided year Ambulance last XX% sequentially, points fiscal in production emergency. dollars. increased resulting strong backlog mid-single-digit are billion normalization All to and pricing businesses trends and XXXX a EBITDA full margin, adjusted a Throughput the improved Ambulance Record in Investor inbound industry historic a ratio the expected which to contributed improved target was Day. performance margin EBITDA fiscal within F&E book-to-bill during basis demand XXXX. increase full in $X.X fire expected year orders begin X.Xx in are unit the
result, XXXX a are versus fiscal to the the XX% realization book-to-bill the Increased to anticipate continued incremental leverage, percentage to in expected double-digit year realization be margin XXXX. result revenue XXXX. As we Xx result price increase. fiscal full in Volume price XX% to expected in improvements and and in a range efficiency ratio in to fiscal closer are throughput on revenue growth low
to respectively, prior million increase by lower buses related of $XXX Turning group the inbound the increase to improving sales trucks, XX% end against Fourth demand street of year. soften and school declined offset street X-year quarter compared was of sales orders the terminal quarter. an The Fourth of and Slide continued reached X. specialty XX% a year. the sweepers XX%, transit primarily segment prior quarter buses. to X% higher versus school of sweepers to buses sequentially shipments was partially trucks as sales of the year backlog Commercial and throughout high, and terminal Unit market sales record entering
bus year. impacted business. shipments street a $XX.X EBITDA to as increase components which prior and of in a last municipal contributed related school of business. and group a Municipal transit bus segment disruptions adjusted by competitive offset million businesses, wiring increased in shipments million supply the specialty inefficiencies within seats The environment XX% in and and adjusted decrease price and shortages trucks, and bus sweepers bus partially primarily the terminal unit and increased favorable mix versus Commercial completions Bus school fewer units shipments and by to of EBITDA to production $XX.X realization bidding of labor transit was chain harnesses, compared of year. remain Transit such result
for to Commercial XXXX Lower $XXX terminal primary Lower orders spending million fiscal and first decreased year, production municipal into from related customer of trucks, segment for distribution to buses. street sweepers the demand reflecting terminal versus transit backlog of increased half for against trucks and expected last continue backlog decreased XX% is street providers, and companies while and operators monitoring sweepers consumer centers logistics environmental general economic port trends. base. primarily orders as equip retailers, remain our demand cautious is with reduced
decline of results a specialty to group combined the expect these million We order headwinds in approximately $XXX revenue XXXX. of segment commercial fiscal be in
other has for from vehicles and bus to date business low upgrades the primarily municipalities and emission a operate is a emission extending service infrastructure the operate required no converted solutions. to related demand required municipal as carbon-based depots the a transit to buses low in to transition fleet. fleet resulted Lower for The upgrade equipment delivery
and fill out the slots. headwinds gets revenue solutions in fuel alternative maintain production impact with highly commercial become XX% decremental actions to market lower to designed manage to of CNG plan a manufacturers stretched competitive decreases. for have the to segment to with transition revenue related competing these the units anticipated cost on As range margin the We incumbent diesel
favorable were calendar code. categories in Quarterly Slide X-year last producing business, quarter categories, a fewer sales Turning retail of the outpace our units and headwind shipments primarily approximately Class year-to-date million an The unit price certain second backlog. A dating continue versus largest share market shipments and partially Despite and categories the period. Recreation of month year gained in the of A with the quarter. versus old within have motorized currently by fiscal of units shipments prior $XXX was which fourth is our Lower and industry coincided to decreased onset X. XX% net mix towable segment in which and sales mix of discounting realization. the decline, sales of XXXX, to X year's of overall with to industry Class offset result sales reached in all a unfavorable
resulting sales business posted unit sales G sales B XX% primarily year. partially business retail X%. Recreation were decrease. the segment result fourth of XX% for of X% declined year-to-date retail decrease revenue the in C versus by of versus actions EBITDA prior record quarterly The unit was decline industry a of Class industry on X% $XX.X adjusted versus inflationary margin and decremental calendar unit Class The the the million price decline quarter in calendar pressures EBITDA and of year-to-date the adjusted discounting $XX realization A businesses, sales up retail certain million versus Our lower was of net with unit offset XX%. up X% decline industry Class Class in and volume, of cost the a the decrease
Segment prior The to year. year-end year prior the backlog decreased of at year. lower across versus categories full primarily continued orders net against product backlog $XXX million and production XX% decrease is due versus
the of B in respectively. and months at most Class precoded levels orders remained our a to Within and X and quarter, businesses approximately at with X level remained line normalized possible Class categories production, for of backlog C these
increased to revenue gas We for a lower reflecting XXXX units Class that content and continued price units mid-single entry-level and categories. down full A products carry mix contribution expect selling average fiscal new from headwinds plus be the lower digits, year
be segment in As a to the margin year single Recreation high XXXX digits. adjusted EBITDA result, full is expected
goods payable receivable accounts were and compared fiscal of of was to decrease cases XX progress offset Trade at efficiencies. related increase customer of on of was The Partially materials, million million to the we balance partially XX. million in XX, result process [ customer these primarily decrease inventory. which increase advances finished $XX at of increases decrease capital October ] in inspection and prior manufacturing working parts by work acceptance increased a improving an the in and aimed a accounts increased $XXX.X to The increased delivery. to an XXXX. end raw and $XXX.X timing Turning and operational million inventory of initiatives offsetting demonstrates XXXX, $XX.X Slide million feel includes a
we was the million for $XX.X expenditures CapEx the growth. cash and on organic quarter from a of total including fourth activities spent million for year, million, year $XXX.X within capital full operating Full investments $XX.X
of full October of debt flow net of was earlier, cash on declared dividend of share including end, ABL mentioned $XX.X $X.XX as million, of million income. quarterly was XX for XX $XX.X the approximately record $XXX.X conversion cash our free company revolving payable I January per adjusted As year shareholders December XXX% We liquidity Net hand. available cash million million to facility. our maintained XX. At of credit with ample strategic initiatives on quarter's under a $XXX
extra Turning & rate to outlook, upon builds year within provide Emergency We fiscal Slide momentum XXXX the segment. full the XX. a which Fire
cyclical Group revenue Today's million, billion of We performance $XXX or at midpoint. increase and top Recreation softness expect at $X.X of approximately to of line segment. XX% to guidance and billion incremental the within flat $X.X within market gains offset strong the million the continued throughput Adjusted guidance to F&E end Specialty headwinds EBITDA from $XXX midpoint. an
of and quarter first adjusted to the Given EBITDA quarter, we the throughout seasonally first year. sequential the soft improvement revenue the margin with be expect trough
intake Adjusted full approximately year guidance. million EBITDA is to guidance $XX adjusted be $XX $XX increase XX% related income first million, of net interest in well in current advances expected income to half of revenue reduction a and XX% and to be to net paid. expected cash $XX range the $XX of to million is the as rate year $XX and the be first increased year-on-year flow cash expect new half consolidated as to We full the million. be consolidated of taxes the net of to throughput to environment million deposits million lower reflecting approximately customer in Free
The certain businesses year of million in of $XX $XX growth overall call. lower in is well as reduction expenditures prior debt businesses. the range $XX $XX partially million advances range our a year. million, well anticipate that customer impact in upgrades typically interest $XX year-over-year, to to $XX million in is the advances. rates versus investments the We again us a cash Maintenance flat for ERP including CapEx joining higher as considers million capital level quarter year the expected remains as approximately Full customer interest which in offset estimated be the in of impact to full seasonal today's as to range on million inventory average organic per year. of the to Thank first and use you of debt expense on
with operator, open would to that, like And call the for we questions. now up
