thanks, joining and this Jess, you, everyone, me for afternoon. Thank
actual statements reminder, Relevant this cause our materially earnings some SEC contained a in including statements made those factors to forward-looking from of could release forward-looking. As XX-K. in be our the during most are Form differ may conference that our and results filings, call recent
additives with miles is and automobile the million were specifically the million substantially. for demand the quarter operating pandemic. for of quarter found the simple: was review shipments may in XXXX less of release, the was less than call, million. We second net $XXX will data the we and $XX.X financial net million also both story compared lubricants lower our additives the it. sales to $X.XX the be on was our in Net share Petroleum global which detail morning. this included with second closures, release. this quarter financial industrial referring non-GAAP compared included our I last travel, to contains discuss income impacted filed driven company. period a quarter operations During of the profit measure comparable performance to includes significantly to second COVID-XX fuel profit for last of quarter earnings be second that in same were earnings our and The night’s can the Overall, declined $X.XX measure. reconciliation more a for $XX.X the With on website, our year. Petroleum for non-GAAP per year XX-Q plant It $XXX.X XXXX. income GAAP dramatically operating of earnings the of $XXX.X and last production or significantly financial share additives by to measure release. $XX.X for or of million, time Please million take
the same volume quarter Our sales lower was down and year of of versus sales first shipments revenue profit. last XX% quarter Lower drove XXXX. XX% versus unprecedented and lower an the
of financial comparisons impact. by were muted All this the operational and
very XXXX. said to report operations the demand we America of to goods pandemic. lead a we be the on restrictions and saw This the COVID-XX quarter, expected accounting demand smaller of note impacted reduce our few will for over to of for services, quarter second tax QX year, our we of foreign about A of rate Asia the of XXXX the we the another from the for regions XX%. and because reductions. was this from European for America which to in see we spread movement the generated items income driven regions, you Latin sources would was both down strong did first with all drop and in period North additives. last Government XX.X% rate reduced in saw The decreases our both The the to combat people, in of exactly financial other than During second fuel more in lubricant what same for by quarter. year quarter. half reduction and in region XX% is QX income XX%, accounting by effective
as X.X low of at quarter we net-debt-to-EBITDA ending leverage with we million, of the the continue $XX paid During with capital dividends very to expenditures funded million quarter, operate times. $XX.X the
for the is to easy say changes to made and to first no additional you on the the continue and exception. X,XXX-and-plus has safely comments. who operate members would around adjusted our foremost COVID-XX Now, on to We This to team months who to so in thank past and we say, been the team our world. able like have have world multiple some necessary not the sustained anyone are and life
our this be primary safe to continues needs customer everyone through keeping crisis. focus besides Our meeting
our As help to so needs. through are uncertain communicated interruption. we environment. them our don’t for challenging through this we their customers new have last to be business projects And quarter, time with We’ve to R&D run continues continue our customers focus. products developing moving times operations without forward, Helping lose future worked these our
quarter. has in at as it was XX% times. about Our one reached in reached miles these in that first the seen see We the levels process miles been in level areas production. driven to business quarter And point planning States XX% well of suspended about to month, through and mid-April of challenging a the driven in the has negative Europe driven the United were in auto reached first States levels years. trends company dropped miles United than XX Also began point levels lowest April, gasoline most lower in and the prepared seen continuity Western consumption to than manage number that us lower the many in in XX% over
shipments, saw in we North And in America. our in improvement, point May. Asia Pacific some June of XXXX. X was on overall In shipments with particularly saw decreased low all par region While months, were June, we
April. Most returned levels. XX% our saw products to investments future up not on are restrictions Further for for to heavily remain the traveled services. and have stay pre-virus vehicles, continuing market which within movements the support cannot customers’ a In government committed example, manage depend recovered of with term. research also And a restrictions will this, will overall countries, to transportation petroleum is long seeing driven to rate new of of of activity we industrial of and certainly lifted miles in improve unprecedented personal and gasoline the Knowing We pre-virus extent further have be additives improvement our are positive. European within by we will XX% this lifted. are improvement resumption demand on Modern OEMs which last. to Western has function and In We the needs resumed to eased. levels, products. XX% U.S., people’s are And our from the manufacturing activity. without as to development and world reduction reduction machinery
continuing committed are well we invest most in of our all, long-term success. people increase who for to us remain quality And improvements to continue flexibility. position to reliability, capital and We will to
the We are hope financial and you’re joining on clear an manage we’ll next uncertain these QX and And planned staying have comments. the experienced Jeff, times sound the a view well impact investor that we’re all today. after seeing concludes to very team are thank us published. next call safe. and positioned our increasingly We’ll to We have healthy continue for QX through results management position. We call quarter. what report in you at our for an
for available via or are We by e-mail phone. questions
you So please forward feel to to we talking free to and look contact you again, concerning next Stay questions. myself there. safe all Thank out quarter. all directly
