billion, revenues $X.XX $XXX year million EBITDA an XXXX. Thank increased XX% the totaled totaled XX% the you, or XX.X% billion of and $X.XX quarter Clay. consolidated of revenues increase for sales. to from for billion, NOV's fourth $X.XX full or XXXX sequentially
As part to larger-than-anticipated Argentine limited the workers' the due adjustments Clay mentioned, and flow-through medical and was our in peso. devaluation comp of year-end accruals to
billion sales. to For XX% year, or increased EBITDA $X of the XX.X% full
quarter, primarily related voluntary a other items During the recorded $XX retirement we early million to fourth program. in
will of was rate XX%. that our company's and $XXX from deferred income. We release estimate favorably the effective of taxable the of Additionally, million tax carrying its tax value in be of resulting rate the future valuation impacted assets tax projections NOV's assessment approximately XXXX allowances for by
flow charges Cash free in early program $XX the totaled $XXX other cash Capital flow $XX and $XXX quarter, cash flow. restructuring-related in million operations, a million a actions. from in when working fourth netted expenditures operations associated capital, the retirement against partially in totaled quarter, by and from in million offset voluntary severance cash the in with reduction fourth but resulted million healthy supported by
excess to in first cash generate use EBITDA of cash seasonal through expect flow we free of remainder of with a the flow cash During and steadily XXXX, XX% year. in of the improving quarter the
allocation capital the remains been. as same Our has it hierarchy
us returns. and greatest prioritized First the we provide opportunities, organic foremost, historically which risk-weighted investment compelling with
adoption As build-out rapid new we've market, we introduced these products to the in offerings. Clay accelerate and the plan gaining discussed, that our are recently of
to million. expect we expenditures in result, $XXX capital XXXX a As increase approximately our to
and capabilities, world-class in our global continue approach infrastructure, platforms compelling distribution where we'll allocation, manufacturing take We portfolio to digital R&D to management capital and we businesses invest competencies, at core can facilities. valuations, leverage
not also An of technologies X Clay and this owner. We'll acquisition lift we artificial in are look the for mentioned, is businesses, businesses do best X example leading very to where services. divest to plan a of recent so of as Extract, provider XXXX. And the or
provided, cash capital excess returning reiterate committed the and guidance later Clay's the it's to capital being that our comments flow previous With shareholders this to that we also I of anticipate to remain we return able worthwhile year. to increase
through models, our update understand provide financial their new X-K outlook I'll changes pro data Relations in filed our segments morning. on help results and the in X an historical and on we illustrating we've then of Energy the forma our segment a walk Energy provided and reporting diagram To this our Investor website years Services and and Next, change segment our Equipment. structure, based investors Products
on to results. segment Moving
strong market. of offshore pressure pipe North than a during segment to markets Technologies quarter the increase Exceptionally or and XXXX. to more X% $XX managed American international an softening fourth compared of of offset equipment, in $XXX Wellbore healthy the revenue shipments and activity third along drilling and levels in drill the quarter, fourth quarter drilling Our year-end compared million million with X% generated
EBITDA a by affected million employee with XX.X% the of revenue, costs of increase soft disproportionately to peso. the benefit due or devaluation Argentine in that favorable operations was and mix $XXX the flow-through and were less
activity business sales sales equipment with decline in in revenue X% and Strong North increase drilling and drilling reported EBITDA. rental sales Eastern Middle Tools Africa motor and Downhole service Asia drove modest increase activity. X% while Our in a along fishing solid in America tool higher decreased Sub-Saharan East the and packages revenues, Hemisphere into a year-end against a in
primarily business lower Our system rentals, The America another Middle remained rig its data revenue revenue Totco Surface the the was single-digit growth from high East core due Far strong and surface sequential quarterly posted sales increase North rentals record data system to M/D a level. in count. increase driven high by in drilling to East. activity and stable despite achieve
Further discussed. drill continued from Revenues we industry-leading early drilling slightly early accelerating drill services Sea will services solutions of X our in in adoption of completion products and optimization XXXX. that underscores eVolve expansion resume success our expect projects, due rate decreased of developing of digital North wired wired pipe pipe NOV's which MAX to further eVolve Clay
sequential largely the business U.S. X due bit grinding drill unit's ReedHycalog Our finally percent revenues through drilling activity the revenues softening year-on-year in activity during posted in quarter, gains, share higher. the a America. from fourth to mid-single-digit decline in decrease North revenues After drilling XX% growing quarters market prevented of
solid Despite including America, countries, Turkey, the these and challenges gains partially Qatar in business North declines with Eastern Middle offset the in Kuwait. several
its and Middle and quarter business rebound the growth first the the in drilling to East to Additionally, North expects activity trajectory Canadian return strength with in Africa. in a continued
the in were offset Argentina in impacted in currency fourth in East, Europe the Far by the activity rig single-digit East. the activity during revenue declines continued pipe in Mexico, Tuboscope North business and Inspection in sales and devaluation America, decrease decrease by quarter. realized Our and low a a inspection coating improved the Middle product sequential partially revenues
Despite were lower by Revenue volumes from U.S. unit's offset drilling East flat in coating and sleeve backlog on the lower partially operation and the coating Hemisphere, and remained strong. the in Eastern Middle revenues activity declined Mexico. coating improved pipe shipments activity, volumes lower and
XXXX. highest also mix Our following contributed Grant since sequential offshore to the unit achieve growth chain average international first flush permitting supply pricing that quarter revenue levels, growth. and business drove the pipe to sales more realized favorable top-line higher Prideco drill with of A normalization, strong the its shipments
sharply and offshore the New levels from low orders increased third were Western weighted quarter toward the customers. in and Hemisphere
Grant we strong few first result for quarters a a mix Unfortunately, and to convert a in our business. Prideco less bookings quarter the lower revenue and favorable the to take revenue, into in sales sharp volumes expected decline
control business delivered demand strong of the revenue pressure control quarter, The gains during by driven offerings. offset solids reduced fourth activity sizable drilling Latin WellSite shipments in our in strong growth equipment by solids currency were Our revenue devaluation Services and the America. for year-end and sequential partially managed
land East. expected control equipment as for strong not in the later Middle solids strategic of deliveries capital repeat are in strong the offerings the expect sales both return Brazil, key quarter, the markets, we and well to Guyana to year in While including our first markets, MPD international in Mexico and such offshore as as
Our segment quarter XXXX. Completion $XX sales, of representing X% fourth million Solutions and of the to flow-through XX.X% a EBITDA increase XX% a of quarter. a in to the Production improvement of generated of quarter or $XXX X% sequential third revenue & compared XXXX, the compared healthy was million fourth
to and continue sequentially of pushing and at book-to-bill orders XXXX. We and offshore to $XXX year-end billion, sequentially XX% XX% orders since up markets, million, level $X.XX year-over-year. XXX% a up international from strong see XX% was representing demand Backlog highest of the
posted an major EBITDA new Our pump deliveries upper revenues from a pumping blender normalization. support improved Intervention solid unit, year-end Coiled Equipment sales Pressure The nitrogen & flush tubing increase in of on lines revenue and business delivery increased benefited product several single-digit sequential with Stimulation and in trailers with unit the supply all higher following units. deliveries. flow-through. chain
the saw deliveries aftermarket shorter-cycle XX% strong strong posted tubing for And Latin Middle softening products out XXX% bookings, to equipment capital American coiled North like impacting wireline America a improved into services, resulting orders we in East. Despite and demand the improved spares the and which strong The with market sequentially, and also business year. book-to-bill. strings close
and America wear is and to to Latin the service East, North Asia America, Middle equipment. replace continues the from coming is and attrition tear increasing in need demand Pacific the drive only the of intensity and much regions, While
booked quarter, for the U.S. orders backlog, discussions in replacement fourth regarding active in continue we DGB to e-frac with Despite and spreads. and frac DGB to revenues the decline we During shipments. flush a strong fleet year-end customers have following QX a customer additional expect
bookings strong Subsea unit flow-through history, footage lower-margin healthy pipe EBITDA its to our for with accretive and the pipe being some rewarded growth, in highest strong Our posted at business margins. XXXX, is to flexible but hold and produced projects, through out bookings. year highly finish business solid continued work revenue its to pricing a with of Throughout discipline strong better the
business The quarter. bookings XXX%, first also and the book-to-bill a unit posted we strong in expect of
still projects and volumes in the mix our lower-margin favorable unit's the have first sequentially improve we steadily backlog Although we a with in of course margins lower expect anticipate quarter, less business the XXXX. to throughout
business and significant conductor Our Africa. offshore to Mexico quarter the growth achieved pipe the Gulf during XL revenue of strong shipments Systems with both West
most we sequential offshore quarter regions. results a and the expect exploration to sharp in increasing revenues, While decline activity expect XXXX first in through development we with unit's improve
a very Our continuing module Process backlog margin a to included Bookings margins favorable a Technologies the Flow improved slightly and increased from in orders in projects quarter the operations. for decline projects. Despite with strong glycol XX% unit a and and our modest revenues, North monoethylene Sea. business in displace higher after third sequentially for processing experienced revenue less sulfate removal drop wellstream
COX COX to and awards annually. super-majors tons of capabilities. gas capture were leadership awarded we and liquid processing package Additionally, a Coast, for demonstrate technology project the These which NOV's continued a project provide capture Gulf XXX,XXX carbon will in a on storage contract and dehydration
handling wastewater where to sales posted region. revenue in from the sectors and and and the better unit from strong the with gas, our fuel revenue business a sequential business, Fiberglass growth improved from EBITDA declines marine in due East, realize Fiberglass multiple demand to serve in product increasing flat improved Our and to remains sales. our offsetting we sector chemical/industrial we're mix. continue Middle capacity countries more favorable Demand for solid oil
order North have XX,XXX-foot pipe, we is operator this spoolable for we received In America, DuraFlex product. received for the from composite ever an order which X-inch largest an of
an We continue and received tank semiconductor into large to facility. semiconductor a order to supply for make fabrication the major farm market inroads new a
and to positioned capitalize opportunities solutions to activity. more lightweight realizing our provide are Bondstrand FPSOs, well offshore corrosion-resistant leaving ballast business systems we the growing on Additionally, for
rate Technologies to Our third of in XX% XX% million $XXX quarter revenues compared fourth fourth growth primarily strong of a of quarter equipment $XX Rig to increase result typical segment on deliveries or XXXX. The fourth in seasonal generated progress of projects compared at aftermarket the of capital the large and was million an quarter activities. the year-end, the increase quarter, and higher
sequentially workers' or million medical comp-related $XXX to limited Adjusted million and costs. sales. was sales by of less EBITDA XX.X% $X flow-through a mix and EBITDA favorable higher year-over-year improved $XX million
million New $XX capital equipment increased or XX% million. orders totaling sequentially, $XXX
of for $X.XX backlog was $XX billion, an at Total over the prior increase million year. year-end the segment
its remains recertification since to operations, international and forward offshore revenue, Solid customers outlook industry XXXX. quarter The upgrade fourth fundamentals aftermarket to has projects. the support continuing with continue of push positive, and reactivation, the segment's which doubled
of projects increasing value average rose total Our project another sequentially. with $XX size the million, XX% per
more for dig by work scope fleet size the Asia. decline U.S. spare customers increase. bookings, decline where in Middle offset rig deeper mostly service increased an and and This from than repair orders East from understandable age, in orders in reactivation part their into offset and the the and was growth small continue to the continues projects As to stacks of as broader
in a vendors product for from deliveries and our components, improvement of sizable from Iron continue chip us for at our away manufacturing both more on-time vendors the of deliveries to capital parts our equipment in improvement casting Roughnecks manufacture meaningful operations orders key better shipments A Continued facilities, levels. and increase in drives, has execution spare inventory our backlog ability customers. increase better our enabled in BOPs manage to helped and to to top our allowing contributing
The to DC East particularly orders. and incremental North mechanization. update a capital the number offshore for AC operators where markets, rigs in systems and equipment international with improve and to for upgrade to pushing grinding opportunities higher, seeing of improve demand Middle East, Middle continues We're contractors equipment in power growing the driving Africa, in is outlook to for rig activity rigs
equipment on in While demand upcoming gain capacity support excess soft North America to automation land the in until to from remain continue to yards is Lower absorbed, and XX markets capitalizing upgrades. expect in customers' opportunities Alaska our we're traction we drilling with projects
of of of from the needed multiple to rates and inflation, outside the Despite continuing America. still the in projects and contractors. costs interest in have offshore sizable higher sanctioned, remain increase vessel North world wind and in that attractive been our conversations with for promising We regions project see many a shortfall capacity economics have we're customers
While new WTIV orders power have investments required we for other been delayed, we expect later build a key couple capitalize of year, wind this offshore on to projects to out will move and forward infrastructure development. continue
and During quarter, large-scale large a the order projects. a provider cable second lay European further and for received cables. related from for infrastructure key bookings The large a for fourth power cable in vessel, transmission needed we enabling solidifying order transmission key crane of a providing our lay position as interconnector equipment marks technology an order the power system our leader
lay to for and also feed vessel inter-array cable turbines addition prospects which lay we between cables vessels, will larger additional orders, In see smaller into our large wind and WTIV transmission build lines. transmission to opportunities
to result larger the quarter all in more X following quarter. the combined forward supply for quarter, incrementally seasonal first shipments fourth America, a the in with Looking delivered chain cautious first will in normalization in flush North drop than average segments, an outlook we the
declines see years. seasonal line last average X with the will We Solutions anticipate Rig & segments are our in that legacy over Technologies Completion their Production and
repeat first shipments see a between decline to to in pipe Wellbore of increase primarily a greater-than-average will Technologies our quarter, not capital consolidated and segment which legacy points quarter to extraordinarily of high-spec in MPD will However, the XX%. equipment that drill first X% due all revenues year-over-year of strong
new the EBITDA For segment, range. and to Products year-over-year, in flow-through XX% Energy Services improve in expect revenues the QX percent our range we mid-single-digit with
flow-through Equipment For revenues year-over-year mid-XX% EBITDA XX% improve the segment, range. Energy we our between in X% to expect to with new
also corporate quarter of with costs We and quarter in the XXXX. first expect to first eliminations line be
to America revenue the from full consolidated decrease XXXX year-over-year. low- X% our international percent to expect digits, improve our X% the resulting North to low-double we year, the mid-single-digit in in revenues company year in markets range revenues from to and to For grow
margin in expect combination backlog result to our of a cost-out mid-XX% program improvement the full our through continued and year also EBITDA improving We flow-through in of range. quality
With the to call that, we'll questions. now open