thanks us and afternoon. Jim, you, for this joining Thank
differ this statements may could As and forward-looking in to our earnings the filings, recent in during are cause from conference contained statements results our that a reminder, release factors Form made XX-K. call our those Relevant be actual including SEC materially most forward-looking.
our our reconciliation release, During our earnings in morning. the review was financial last night's company. measure XX-Q Please We to which be measure I significantly filed comparable our this can included operations to call, a we included in to GAAP may time also referring this website, that it. found more financial the details non-GAAP financial on data on take The of release. will of discuss contained earnings performance includes and non-GAAP be the release. measure. It the
a $XX of for in $XXX to quarter petroleum quarter for by due due $XX was $XXX conversion income costs, lower lower third compared Sales for same quarter quarter increase primarily for net million profit raw for compared period partially offset of or additives share to million compared the million increased offset the lower of a last and primarily XXXX by the shipments. were prices. share the was of $X.XX the materials segment of million. decrease $X.XX to $XX partially to third Petroleum the income shipments, the last year, XXXX or year. selling additives operating to was and third Net $XX million XXXX This of was sales third million
operate costs Shipments our our decreased and year-to-date and selling, undertaken we by Latin Pacific for mainly with periods and more X.X% conversion gain serve lubricant also evidenced operating lower due year. customers. America costs in in between newer pleased in cost-to-serve our as supply our Singapore Asia with to drivers broader network administrative team the is We the is this It This facilities. efficiently with lower decreases the experience being a are showing general the Mexico better shipments, additive decrease. the efforts to primary and
volume this the narrowed versus last each With gap quarter has year, year.
off the quarter the were in shipments first X% second. in Our XX% and
While some markets we see improving. overall are continue do to that be signs soft, trends the
so results our by operating that of results encouraged XXXX our are in We business profit year, petroleum the were we acknowledge XXXX strong compared to additives disappointing. must last
operations material marked by Our of were by softening environment rising two global quarters for a impacted the previous challenging adversely multiple economic raw years costs and demand.
market tax we that additives back The continue XX.X% for year. third is effective make the which for of recent for Petroleum XXXX of expect mid quarter is the quarter last -- in quarters which rate historical see is we income priority of the a improvement margin rolling XX.X%, from stability. until the third XXXX up period rate sorry same for -- was business. to operating the to from XX.X%, four upper-teen our most the We'll range
to In a Reform had quarter XXXX, third the Act. in for impact related the we onetime rate our Tax
the spend the to of bringing funding of our million. quarter, our dividends note $XX flow the million, normal spending million capital year-to-date capital of On the cash items our include for and of for $XX quarter $XX
low very leverage net X.X We with continue to times. debt-to-EBITDA at operate with
safety on the to and With expenditures see expect million in CapEx is our range. cost-to-serve and behind gains. $XX $XX focused capital do quality, we million major efficiency improvements environmental us, our XXXX, expansions For several to
X% petroleum long-term remain a additives remain objectives. annual and industry foreseeable with on a the shareholders unchanged, rate our as to decisions value whole We focused promote continue customers, to at the fundamental for future. long-term X% we make believe the to our We of market the for growing and
We very and profitable is our on growth rate that new team generating will the long-term continue exceed to focused over that business. believe we
Jim, questions. that concludes for our remarks, and we'd like the up to open line
