mentioned, Clay solid a had XXXX. As NOV
and our year when XX% international flow-through. was EBITDA North in improved During with America revenue a in down year drilling markets, activity full X% X% flat
We free cash a of of and XXX%. achieved flow also million generated $XXX book-to-bill
improved and decreased services gains of market revenue with activity was share quarter, more equipment of consolidated EBITDA technologies totaled For the higher-margin but million margins the million, efficiencies. quarter, X% the fourth and to our profitability effect and in flow million XX $XXX $XXX levels increased flow. NOV's $XXX in capital and cash X% operations new from increasing totaled offset levels.
Cash of of sales. higher resulting improving points million, basis backlog, quality due fourth than to year-over-year, $XXX operational Steadily lower of expenditures to from robust Capital capital XX.X% working efficiencies free
For in the operations billion full $XXX capital flow. cash million $XXX million cash $X.X free year XXXX, flow NOV and generated from invested expenditures, resulting in in of
We XXXX in be achieved line rate to expect to expenditures in XXXX.
We XX% free XXXX. with cash EBITDA conversion in capital of flow an
more While we rate repeat exceptional this to still improvement a we do of free the to XX% flow conversion expect EBITDA not in capital expect year, cash XXXX. healthy working in than
million returning repurchased we our X.X shares fourth and for million $XXX the dividend a During $XXX shareholders. million paid million $XX to quarter,
the year lower towards quarter, fully X shares million average weighted million the than end the XXX outstanding diluted heavily during shares the weighted exited repurchases Our with we of number of shares the quarter. so outstanding. were
we our cash the XXXX. excess We supplemental million half free an $XXX the XX% to basis at our and, remain therefore, to expect a For total committed that flow to full of in cash least through a returning our annual free first of XX% year, threshold on our shareholders dividend a shareholders to flow. excess true-up returned of of or
XXXX, Our of supplemental cash exceptionally our million return excluding improve also to cash strong robust during related free XXXX. flow cash return over allowed well the now balance we XX% to in XXXX to us excess balance sheet, our dividend our $XXX expect our target. by flow With
on results. segment Moving to
XXXX, decreased which and revenue heightened of $XX segment generated a quarter million in equipment of a of activity on profitability billion, Energy disproportionate to to quarter fourth decrease of the revenue or had and decrease XXXX. geopolitical global compared shorter-cycle due million the and our During effect the Products Services capital XX.X% and $X.XX $XXX demand was modest for fourth offerings. of drilling EBITDA The uncertainty, sales. segment's effect lower macroeconomic the to
which energy managed For Sales lived and the for equipment year-over-year and products XX% decreased XX% drilling sales did services the product conductor casing fourth strong capital and XXXX, due quarter, shorter deliveries the was equipment. mix of not fourth to XX% and of connections pipe, rentals, in of pressure sales capital XX% services equipment repeat. drill quarter
of decreased fittings as seen sales offsetting offerings structures. these equipment product decline a for increase each in line segment's partially overall from demand While in has strong and was capital orders year-over-year, the solid the late. And revenue pipes, composite
year-over-year and We recently, continue pipes floating ballast for in to tanks contributions experience of Segment's tanks to rentals for sense offloading developments.
And tool production setting vessels. revenues in piping and composite support robust for ducts new and services X% to found artificial improved storage a international of demand taking of have from urgency production seemed infrastructure deliveries and fiberglass from shipyards primarily lift our due acquisitions. and
slightly revenue generation up close offset rentals percent of industry-leading of drilling revenue straight as steady provide Despite by from cutter the our lower increased technologies for double-digit robust the the declines application.
Demand activity, our demand engineering rental has levels. bits U.S. activity coordination our in solids up bit and our operators was market Excluding control in latest hole optimal drill X a with and service for revenue quarters, range, low drilling result the year-over-year, year-over-year for services specific gains of acquisitions, with remained led in to technologies. share
desorption to eliminating efficiently than can disposal. or market waste significantly year, the process XX% iNOVaTHERM associated systems, past with and thermal removes from shakers rapid other more costs our adoption transport oil-based our which which Alpha waste of cuttings, the decreasing realized market shakers, cuttings Over we've XX% on
already projects services the which or our declined UAE began our spud lower measurement bits, Our our from digital single-digit from extended from own expand in an than fields field. on flat contract and and digits platform.
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Revenues and coating products extended field an are the friction the Latin a in seeing service in inspection offerings drilling Solutions downhole adoption East Both dates data increased share Hemisphere out Arabia, offsetting downhole product slightly and markets the sections North was down by to The drilling America.
We're direct the strong in the lower low whom growth percent to U.S. record and
franchise in healthy in demand while regions. to see lift artificial Permian, continues the Our pursuing growth additional
acquisition revenue business, were the artificial the falloff Excluding couple consumables in bit of in low our to months Saudi of lift of a of to India, liners mid-teens fishing Arabia year. in MPD by of offset than range.
Strong down more tubular drilling lower downhole tools sales consumable Indonesia and the and China from was customers shipments sleeves, during and of products and last the drill shipments
For Energy with seasonal to into last the down expect what first our the EBITDA flat X% segment million. year, Services $XXX line that Products is year-over-year we revenue experienced segment quarter and with between decline to of million translating is XXXX, a that realize and in $XXX
our for resulting this from the improvements fourth to from in in a $XX billion, of million, of the EBITDA million improvement Moving $X.XX basis quarter in backlog XXXX of down XX.X% quarter quality operational the X% and XXXX to marked for of quarter of our Revenue the Energy straight $XXX growth XXXX. fourth Equipment segment, margin efficiencies. fourth increase margin XXX the continued point segment. to year-over-year tenth resulting was sales.
The increased of quarter in
the deliveries.
Aftermarket percent but revenues in of parts equipment the the sales equipment. in which XXXX, in to America decrease XXXX, drilling aftermarket aftermarket offsetting of in aftermarket accounted of intervention points XXXX, to unchanged services requiring U.S. of X% equipment where more frac revenues, unconventional quarter, segment's stimulation and fourth accounted the equipment demand business, repair low mid-teen the equipment.
In from due percent for for XX% range fourth completions our and remaining demand support with the lower a year-end other revenue and growing offset decrease typical operations.
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and in many expect upgrades taking complete a customers recertifications. and started as activity we've experience are see we recertification offshore XXXX. to service through XXXX.
We anticipate in is a will navigate and for spare of our project of mentioned, for the older, versus lower repair, offshore Clay than and larger larger softening demand to have parts getting expected our aftermarket saw scope advantage to Despite average fleet As the services XXXX, what prepared contractor beginning parts we in effect customers to with on drilling rig space recertification demand a white number and loan
scope expectation that project the Our per in will reactivations to fewer of see full and and should a upgrades decline range recertifications, recertification year. number revenue single-digit larger for percent but drillship upper we aftermarket resulting is the have we meaningful will in a mid- that
in trough activity quarter With fourth results higher third for second significantly the aftermarket offshore improved the and the in bottom in revenues of XXXX. XXXX, quarter in before we quarter, the orders expectation expect to to
XXXX, of strong portion equipment the with production-oriented turbine very bookings production Higher an in strong segment. revenue of higher on pipe at remained from wind offset with our of weighted backlog. year-end offshore extraordinarily for segment despite QX on production $X.XX flexible slightly from quarter projects, in international new Turning FPSOs X more U.S. capital equipment impact Equipment and lower of equipment to year-over-year secured will XXX%. negative natural in new associated Energy dollar posting Revenue We packages treatment drilling, than vessels. completion advanced strengthening our for Backlog decline offset the book-to-bill handling build businesses sales billion, the market installation of year-over-year and by our West up heavily ended the produced that offshore had Fourth X% XXXX system scope with partially and orders our strong. operation, XXXX.
Outlook progress remains includes operate dehydration, after Brazil The a gas water improved process offerings systems. COX Africa. subsea a
pipe up strong bookings from high, a quarter, of end last Subsea is and backlog Our business year. record the at flexible had XX% another
equipment consists higher which pricing, operation margins equipment the improved projects XXXX.
Sales meaningfully with high of Middle quarter drive sharp Intervention than America. the a in improved North and demand and in Importantly, East, backlog equipment Stimulation more digits offsetting pressure much the With capital for pumping over in XXXX. tubing of strong sales the fourth wireline coiled decrease of in for single of
offers to more our worn-out greater couple which equipment, customers operators declines replacing quarters of total base need less, our assets of of to lower over we are activity and generation cost and expect a As service operational the efficiencies the next will more attrition with latest of equipment before ownership. with doing resume see
a offshore for we development in plays to is source our expect well drilling cautiousness, capital from that will XXth Saudi, unconventional mid-single a where sizable service-intensive demand continue in some we delivered due of While to in BOP backlog are rigs on that to the fields including of completion rig. equipment be psi And continue to progress recently of Middle rig now needed upgrade XXXX. we region the XX,XXX grew equipment year-over-year announced feed digits curtailments newbuild execute East projects, solid on increased the underway.
Revenue our Saudi is causing we conventional
but new operations outlook offshore building for for a upgrades, Our equipment for rig, XXXX. looks package jack-up recently in drilling the a busy rig remain and modest equipment equipment booked we
Clay XXXX and for in expect revenues space rigs latest demand to opportunities due percent term, the Longer in upgrade in rigs pent-up the see high-spec we wide As basins single-digit mentioned, and to offshore offshore low uncertainties we macroeconomic unconventional the to capabilities. more with decrease international emerging building range
Our Marine and decline offset that of through revenues pipe cable the year. XXXX WTIV Construction projects as completion from course not occurred steady could of in through business the and lay revenue experienced the a higher vessels
While that orders for giving have are customers us over Europe Western been sparse project shipyards, initiate X years, and XXXX. can a vessels WTIVs to somewhat last beginning of tenders with continue during XXXX, in shortage to realize orders the we a couple by our optimism of
X% will open $XXX in XXX we'll to a X% EBITDA the cranes We to than increasing additional year-over-year, the for rates With pipelay machine usual that, vessels realize that for seasonal margins geopolitical yield be potential and also decline, XXX million.
With see with to the deck larger expect solid. basis improving uncertainty, macroeconomic down million to the revenue call slightly and $XXX demand questions. remain and we of to now in expect points resulting between to Energy range segment Equipment
