NOV's $XXX ongoing activity limited related Clay. in revenue resulting drilling sharp contraction in to to or $XXX to and margins sequentially accelerated in our cost XX%, the seasonal consolidated million you, revenue, EBITDA Thank the due COVID-XX out $XXX million declines in markets, and contraction certain decremental disruptions. decrease international U.S. a XX% Despite in efforts decreased sequential million. EBITDA expanded
would of certain implementing which began the cost return million annualized per million, energy savings demand, management for cost revenue since inflict meet on which did the or when and of not operations After increased thresholds. the we of reflects of adjusted numerous the acceleration to million global of $XX the beginning elimination realized cuts $XXX mix Year-over-year our recognized decreased EBITDA exit in magnitude approximately quarter XXXX. damage that immediately million, we pricing and $XX $XX additional layers and COVID-XX include decisions
executing our on removed XXXX. initiatives, new now these target year-end exceed decisively for that we have By costs prior
of targeted remaining lead our execute to initiatives the therefore, incremental total savings cost to relative quarters continue of $XXX many X us achieve $XXX annualized will cost require during the an XXXX XXXX. time million, increased We to in which longer on million savings to beginning and,
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the the proportion liquidity markets. our increasing and we preserve international free to from working remains While year, of flow an to on outlook expect we to generate pressure cash positive due remainder the anticipate metrics opaque, will the capital of and customers business deteriorate
we mentioned, severe downturn. Clay have As we through than the ample liquidity more believe to navigate
$XXX in XX, March debt in billion $X billion million our totaled cash At net $X.X and with debt.
pay We XXXX, to have notes well of due off December $XXX with intend date. that cash million we which before
maturities XXXX Our and other in XXXX. December December are
billion facility subject to is $X debt and covenant. October to primary remains a in credit expires only XX% unused XXXX, Our capitalization
ratio As of March XX, XX%. debt-to-cap our calculated covenant was
efforts. conditions we billion noncash our the due quarter, the ongoing and and to impairments mostly global other During took $X.X charges in in restructuring market deterioration
the a We in these amortization to expense impairments. to of expect decrease our depreciation million and as $XX second result quarter
Moving to results from operations.
quarters XX% due X%, segment of $XXX the segment's seasonality, in Technologies the and revenue sales America to in $XXX margins Revenue of million related and decrease sequentially led declined while Incremental corresponding impact and quarter, respite year-end $XX anticipated a generated from a international X line XX% average from savings with of realized combination of first mix declined didn't aggressive in quarter activity from disruptions Wellbore of decline in decremental preceding to in million. the a disruptions. million that Our revenue QX with large favorable costs from XXXX, equipment from $XX sequentially. to in during decrease recur incurred the COVID-XX EBITDA the business million these North operations the cost or along drilling less a outsized
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offset declines our in posted global the U.S. declines the in our shutdowns falling quarter. operations, Revenue activity COVID-XX's of operations X% to disruptions. in and Hemisphere, disruptions primarily amplified affect business was in declines declined related all bit Mandatory the facilities that U.S. in X% this Texas stronger supply base. our the In due COVID-XX manufacturing customer an unit's Hemisphere drill as revenue plant seasonal required began activity seasonal which bit in late mostly sequential our Eastern to Eastern ReedHycalog international business America only in and decline Our North Canada
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Our due realized related pipe and Grant shipments to at a XXXX. one manufacturing revenue a in sharp in holdup of this the business of days and decline plants closure quarter surge of business the our part of Mexico QX, for level since bookings resulting orders COVID-XX challenges. These between challenges Prideco softer-than-anticipated of drill border during highest of realized we early Despite revenue, the included seasonality XX for fourth of the and the the Texas. combination a
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off existing activity customer experienced our With decline a activity, that backlog begins anticipate both related disruptions. a once business operations sharp operations Tuboscope's in to to falling rig in and Tuboscope inspection in and thin Our coating out due decline mid-May. realize fall revenue will sharp a we slight COVID-XX revenue
by our action sequentially, decline we've that international in-depth revenue business, for and X% Our analysis the business projects slowed logistics offshore declining recently shutdown returns resulting unit U.S. fluids COVID-XX WellSite related from Services an completed. U.S. activity, driven and saw certain issues
our global several operations, certain significant or and reduced do tangible we for exit closure thresholds. recent or for meet we've The As businesses have our return and to we over plans quarters. in markets fixing near-term offerings slotted internal conditions accelerated tolerance meaningfully previously deterioration the market improvement not next developed has of that divestiture described, product for plans
world. product our Over businesses efforts needs our the developing activity push in to lines because and been goods highly or efficiencies, NOV, and is Wellbore the there enhance taken markets they improve challenges do solid customers' segment's exiting our that will thresholds. know returns has we dependent recent improving several together its ability that navigate customers' people market to segment's on their the process align Technologies meet drilling better lay fixing our environment, are and segment the the to global materially Despite of and These years, meet relentlessly positioning, regardless that past to ability correlated on to not technologies ahead. operational themselves the focused levels with through economics move be will its with around
levels a for While our allow the the frequency COVID-XX of precision revenue best the sharp as a sequential in increasing our additional XX% rapidly of estimate the deal disruptions and offset savings. declining with in not confidence that related cost to range activity increasing of lower in current segment great realize do margins upper is decremental pricing decline the will range XX% the mid-XX% pressures outlook,
$XXX & quarter, Production in segment decrease Our a sequentially. or million the million revenue Completion of Solutions $XXX of generated XX% first
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and we anticipated bit pullback January in Although strong due to inflow the of a of our February, projects. in QX had timing a orders due various expectations were order to in with line
prices considerably for commodity remainder outlook collapse altered XXXX. of recent the has the our However, in
delay think may awarded, we which will orders. most While XXXX, will be projects certain new still FIDs into push
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strong challenges Intervention for decline deliveries, acceptance logistical Stimulation and XX% revenue to business revenue this of impossible. equipment few due sequential fell Equipment product equipment, demand these completions factors. in tubing sharply made a row that reduced a quarters testing final due Our COVID-XX several in seasonality & After customer a for to coiled line realized related
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we business unit post As to rationalize management percentage as as rightsize decrease revenue, possible product a to another result, footprint. expect quickly and the is in double-digit their and manufacturing moving offerings and
in With the to quarter upper and related revenue margins with COVID-XX frequency of the decremental Solutions backdrop segment we & increasing an environment will of XXXX, uncertain market Completion for second Production our disruptions, X% of mid- EBITDA anticipate the from range. XX% decline to XX%
to a $XX as sales, sequential book-to-bill segment deferred $XX also the Our in a equipment $XXX sequentially. sales Rig did sequentially. sharp a realized decrease Technology fell decremental XX.X% capital XX%, orders yielding backlog of segment with million representing million The sequential These generated $XXX million million of segment a or quarter or XX% of not revenue a EBITDA decrease during Orders $XXX decline the materialize. in bookings. leverage first billion. XX% orders $X.X previously the several anticipated equipment ended led and million, or to totaled XX% of quarter,
packages decline being. the Looking upgrade focusing a to cash was the the outlook realized order and over fall global ensuing momentum conserving wherever and that in in standstill is few commodity years in has rig to demand materially to weakened for recent last Customers possible, come activity. rig likely ahead, prices on the the time due are for
on of the turning to in of sequential for Aftermarket next Bookings rigs were primarily during decline. essential preserving liquidity. consist first the quarter fell also the parts expect as parts robust percentage to keep quarters active months that We sharply equipment a double-digit but CapEx few over spare experienced minimizing orders and X contractors revenue are focus March.
To increased order in industry's around did countries. are Such people around general we As spares technicians their service and put critical working readily disruptions frequency mandatory home customer ensuring the today, troubleshooting XXX by of from move in mitigate freely mentioned, to handicapped the quarantines that we border as this customers Clay fixing intake through borders perspective, restrictions, XX outside the by potential globe. technicians working was shutdowns disruption Normally, the and disruptions issues have to materialize were COVID-XX February globe. expect ability have available. around to and have logistical bolstered would
our Fortunately, Clay the referenced able subject Tracker world. augmented reality leverage stream rigs Vision experts in video and technology audio to from we're our to to that real-time matter anywhere
to with reality can of business the augmented never visualizations has In tools instructions necessary to been we specialized who conditions, light then the professionals important, make then expect aftermarket market weak our personnel can rig provide base repairs. more utilize key installed for to contractors' Our along to the nature Rig our our be business the of revenue downturn, capital and sustaining Despite segment's minimal segment's immune from new aftermarket sales. will and XX% this recurring no international weighting Technology in be demand activity. we expect and markets, market equipment
from in the quarter X% to Technology to we XX% result, range. the in XX% down expect with a be decremental upper revenue our Rig second As segment margins
to With that, questions. we'll now open the call
