Thank you, Matthew, and thanks to everyone for joining me this afternoon.
of forward-looking. made some call this reminder, be may a the during statements conference As
that cause our factors most forward-looking in Relevant could SEC recent statements from differ our are those Form materially XX-K. contained including in filings, earnings and actual release our results to
February. or The million which was $XX.XX $XX.XX file of or Net share, the financial included net GAAP measures. for will in found intend share Net to income can $X.XX will data on of fourth a the full in to website, includes or It comparable earnings of or to year per night's that XXXX the more share $XXX $XXX referring of for be of of quarter income the of million the XXXX last compared significantly $XX share release, our fourth for XXXX. million the middle XX-K and reconciliation per XXXX. quarter was compared to operations income I million non-GAAP the our be details for per income to the net our financial contain per XXXX measures We Today, $XXX company. on $XX.XX was performance
costs. compared for due the profit additives operating profit was $XXX the for compared million to fourth in the XXXX. operating XXXX of Petroleum $XXX to for The fourth operating quarter were of quarter sales was to million Petroleum for XXXX. same of quarter $XXX mainly million $XXX additives increase million the period fourth XXXX lower in
our were shipments offset making while investments by focus a to manage in customers. inventory as technology year-end customers efficiency continue in levels. We support partially to decrease operational gains These still on
operating million to lower result was Shipments year lower full a as $XXX offset XXXX. in by costs well billion as in for XXXX selling to of compared efficiency flat lubricant increase XXXX. The small operating additives prices. to $X.X were offset with For our additives, were profit comparing $XXX a petroleum costs, efforts, in additives. material billion fuel increase lower XXXX for for operating segment raw decline a was profit compared when million driven in XXXX, Petroleum by the by XXXX $X.X additives the sales
We are of very quarters our additives team to done performance four our and pleased during the petroleum with of XXXX profit. the strong by business operating achieve work
our operating However, manage challenged despite efforts we and inflationary remain the improve costs. by our ongoing efficiency environment to
applications. needs, defense our continue military used North improving leading on in space the of optimizing We focus to technology AMPAC Corporation. and January solid critical and performance for XXXX, manufacturer XX, American inventory our American portfolio levels investing profitability. launch acquisition the meet customer On motors is completed to in Pacific rocket of additives we
$XX.X in of Specialty fourth the the fair at We our the report full of the no the $XXX for $XXX credit was the it year. for the was We for profit AMPAC our year revolving value and million our throughout surpassing AMPAC financial and business operating finished facility goods during we year on and at expectations. sale at XXXX year, year solid include made closing that segment. and million Materials results quarter since Specialty generated the Materials fourth Specialty were The inventory results of $X.X recorded million flows our million cash Materials sales acquisition. of the of quarter full Materials sold million XXXX for Specialty pre-acquisition and acquired $XX AMPAC margin. payments full
of million $XX $XX $XXX through We shareholders our and million. to returned repurchases million of dividends share
QX. was our improvement reported over the significant the X.Xx end XXXX, December net of of debt-to-EBITDA at which we a XX, X.X, ratio As was
in strength As and petroleum we look additives continued our we anticipate Specialty ahead to XXXX segments. and Materials beyond,
We objectives. safety-first and long-term perspective, the shareholders continue supply believe our on customers are while technology-driven a solutions, our core staying that making promote culture, to customer-focused will and focused our long-term decisions business, that a the We world-class products stakeholders. for value to principles chain long-term committed all guiding our
Matthew, that concludes our planned comments.
for e-mail We or phone. are available questions via
So contact you free next to feel Thank again, me and will you quarter. talk please directly. we all to
