Peter R. Huntsman
us for to this you, the very morning. thank taking thank join you much, and time everybody, Ivan,
Let's turn the EBITDA quarter Adjusted Polyurethanes to million. was division for slide our number X. for fourth $XXX
includes adjusted million. propylene a polyols $XXX the which Our $XXX recorded million MDI oxide, of system $XXX business, and ago, quarter. businesses for and Urethanes million year our previous This compares of to EBITDA
year strong, continue Urethanes at capacity. demand delivered XX% and high year, over we rate remained a to volume Our growth operate MDI of
to turn Let's number X. slide
Our strategic focus more downstream shift and differentiated to unchanged MDI systems. in we our within specialty of In growth from components growing we quarter, businesses formulation business. our first XX% as year-over-year volumes saw remain
growth The driven quarter, expansion Looking at product in by American XX%. region, is rate volumes were expect earmarked American for With positive XXXX. America products, up, and North our increased North insulation we regionally throughout growth, our America. our year-on-year of primarily MDI Demand some for ramping and enabling the up, in strong now composite volumes strong a remained in sectors. gradually being wood freed China this growth show to organic China our stronger previously North North adhesive in
insulation in region to growth of the systems businesses. key and including double-digit automotive and business, quarter. our markets, saw European see increased differentiated growth. all with continue across volumes also (XX:XX:XX) European XX% our East MDI Our Russia ace along our the Middle We India,
in this increased capacity volumes the as X% remain year, versus Asia we prior constrained region.
a reach up, Our take full nine period capacity. of facility we to to new China to start continues about expect which months
Europe. from to with as margins, extent a that in component earnings will last dictates. market market lesser specifically new in remaining our and line described continues the we benefit Fully call, business capacity Asia in spike this We to on bring our conditions in in
million, short-term the entering fourth reduced. We the less in benefits roughly spike was being and spike than remaining saw estimate new outages benefit of we margins $XX the the as market, the the result the capacity expected, half is short-term As resolved quarter. which to of industry be in of
be second million expect the $XX remaining in lost of of the year. the half quarter that throughout and potentially We will the the rest remainder
on by addition our partially new margin of is be the globally and growing margin MDI past. basis. will the sales MDI an any unplanned we at significant strengthening X% line. tight cause short-term about capacity as gradual for very as to Asian seen the point the of offset higher systems X% Chinese and demand is in on outages return remains could comes important Recent industry to out spikes, this that have However, It globally MDI annual
growth, short annually. may capacity, expected recent This such Therefore, facility will annum believe With which still expand the market a X% into expanded announcements we capacity needs over next supply/demand This assuming to between (sic) within debottlenecks will order the is about industry for demand be additional of years, of X% As and keep demand with in timely expanded foreseeable to equivalency XXX,XXX same remain up per a for year. coming XXXX, at and the new normal of capacity such, the the the of world-scale the three delivery of growth industry. is grow dynamics in industry kilotons now and timeframe. future. industry this at per [XXX] tight a the
greenfield strategy not control. tightness focused margin and and to on derivatives our are periods the entering more As our come. see in market we we business remain do in of years stable We of capacity we into moving the future, higher have of steadfast possible Regardless formulations. good what of visibility, for any can
polymeric downstream higher margin give us through that value volumes creating more business. In addition the to creative of to significant existing will lower new we and opportunity to into and our specialized will MDI organic grow global These formulations. markets to initiatives, pull look margin into our acquisitions acquisitions allow us leverage platform entry an to continue bolt-on for and
to addition of our The downstream is of scale-up. a have business. synergies record pull-through acquisitions downstream most urethane strategy provide acquisition We Demilec recent significant track proven and bolt-on continued our MDI through grow our global that in
are there to XX of roughly synergies, the cost-related million stable, expect growing end $XX be that majority million benefits of from polymeric margin the double-digit will pounds per giving the of rate be run some more $XX we run through over of the synergies, (XX:XX:XX) By of of pull higher in XXXX, approximately achieve seen While MDI our to formulations a into excess coming years will us at year. rate EBITDA a an rate annualized million. ability
our leverage it's MDI our the spray to insulation expand markets Asia. Urethanes addition, systems global In intention foam and to platform Europe in in global
today. up sequentially, this quarter, spike in anticipate our ago, partially expect Chinese second levels would our where the Urethanes be but seasonally business a year Again, we from volumes growth reductions of of given by margins, to offset significantly downstream out be the businesses. polymeric MDI and stronger to further as we see will our slightly Looking down continued we margins short-term
reported business year, last of and MTBE versus million. our Lastly, improved EBITDA $XX
margins crude oil, quarter. steady, second As in would we expect gasoline remain a result similar the
reported a turn year second X. Performance Total Performance of for slide the ago. businesses, the would segment a Products Products Let's the are on a good challenging higher in comparable in compared period be year-ago After margin quarter. a $XXX EBITDA number XXXX, of back volumes to as The This amines, same these quarter to and ago. million environments, maleic derivatives so The increased a in earnings XX% track. period XX% solid the and half recovery the quarter businesses surfactants more described recovery. include first is anhydride, operating stable EBITDA which year growth of and our can versus increased
just gas a and that oil lubes the in recovery than agricultural growth. drilling applications expect end product few markets, markets and applications, New additives and gasoline we are better oil GDP and
businesses to year-on-year growth, margin towards show I pressure partially Looking the the olefins our intermediates underlying and Products Performance offset business. expect by steady quarter, of in our upstream second and fundamentals derivatives some
of We the equally expect of year, the year. to with quarter first quarter be this strong and last second quarter second
However, guidance turnaround. to million a EBITDA multi-year quarters, in past two $XX a million hit to as scheduled will per due we $XX our see the
X Let's turn number to slide X. and
its business or focused an specialty on the growing over Materials the volume continuing business businesses quarter., $XX seen Advanced the EBITDA Our remains year X%. we've reports X% and of specialty in positive increase million, increased of so. its core last This trend
record fact, our specialty businesses EBITDA expect from base. for strong our to the The primarily was earnings a our adhesive specialty (XX:XX:XX) business and our is these business, sectors. continue revenue automotive by this driven adhesives in additives, improvement and – we expanded growing coatings, quarter composites In industrial EBITDA and in coatings,
steady businesses adhesive also are show to continuing Our DIY growth. aerospace consumer and
years. made specialty during commodity Our in in the EBITDA minimal by had the the The quarter we've the seen market, investment wind contribution business we've to includes innovation has been of driven this couple quarter. last our in our growth business, which
trend this see to expect We continue. to
further to in add see markets our solid as future (XX:XX:XX) and into growth grow this will platform We effects a to to customers. this in We new for business with invest expanding development. business portfolio and and existing order
in We similar and quarter. to earnings year, specialty will of this growth expect the of our expect quarter see continue second well in look remainder the first business in to the to GDP for for to excess division the
turn Let's number X. slide to
of trend This the marks prior clearly for EBITDA The meet full chemicals demanding our of quarter versus total volume is XX% volumes (XX:XX:XX) sustainability improvement. rates, position year. and our above at these Effects that products up global dyes is customers' used straight range X%, Textile Our in benefiting the we standards ever increasing million, markets, standards. its eighth business products. to up which market grow higher leadership $XX in sell a were reported The division as where sustainability of continues industry our
an of our volume, order The us during driven of to global in to quarter shorter was our EBITDA allowing source lower refunds this in the is fixed cycles. quarter. the meet of footprint fashion advantage customers trend regionally Additionally, costs the by benefit modest improved higher and to take also increased
years second in similar one. EBITDA mid-teen longer-term exceed next division earnings will $XXX to of for quarter quarter is be We the unchanged. margins to Our business this in that this couple million expect the in with would view
to our some minutes Before Sean Officer. turn sharing concluding to Douglas, few Financial I'd Chief thoughts, like a over
