much very Ivan. everyone. you you Thank morning joining Thank for Good us.
a three. $XXX versus division the was for to ago. million slide polyurethanes number of million first Let's EBITDA Adjusted our for turn $XXX quarter year
adjusted with of formulated our $XXX of MDI, year $XXX $XXX for ago, quarter. systems which million. business, business propylene polyols, urethanes compares previous includes oxide the MDI million a a million This and EBITDA recorded Our
we million portfolio. spiked end as in our conditions above we year-over-year margins, that grew our all core for Even prior of MDI normal X%. operating this by exceptionally still accounted quarter in XX the the in first of volumes year to environment and million last in These of variance. of As MDI the operating margins across the throughout out period, component year, regions, we rate were we experienced called overall our XXXX, experiencing reminder a all high approximately including $XX softer
Our have strategy in downstream margins as acquisitions, end regional saw the of continued stable bolt-on downstream, differentiated and as our our predominant differentiated is accomplished We performing we expanded intended portfolio. because operations continued of drive diversification. this we
the year systems In quarter, compared volumes overall Let's to differentiated remained differentiated fairly X% turn four. slide our total stable. to increased first last number and our margins
conditions component expected March. the destocking year-over-year, shared first to that global a MDI remained our grew and addition our given were our of XXXX in earnings the earnings call, side visibility, portion year-end. few new softer significant month China. quarter due markets we primarily either months indicated Our On in the difficulty of XX% capacity and in of previous that We
As improved saw quarter the results expected as both progressed. we communicated, meaningfully and
slide of to this seeing hand represented as positive constructively this the versus as four, few significantly overall highlighted in are percentage past the customers March see EBITDA demand. We quadrant larger As the upper our years. we right restock a of year's quarters meet
as momentum the restocking and We of growth. the second is are rest this quarter renewed through replaced optimistic continue with that will year the
progresses, new out, our as units all we where the but China for which year capacity. MDI to up point been our capacity me full facility are of added operating bring near Let will rate has
increased Looking at polyurethanes volumes regionally, our X%. Americas
Positive markets and fairly this to of of our the to years. in are technology offset increase process Demilec acquisition Demilec markets coatings adding Our on track the to growth of coming our market. XXXX in volumes. by of acquisition account was elastomers Americas market. we board the international adhesives integration in over include wood This insulation Demilec, partially composite is this due the this and now and business accelerate for The the
U.S. part have the construction we initially seen and slower automotive weather. slightly started market adverse expected, due to markets than down We in
As differentiate we we our product our rather in our fundamental enable range. to MDI and splitter strategy. announced with our at us XXXX. investing will opportunity quarter, American which to facility, provides but capacity, variance in a North It last business American we us splitter early broaden be expand products. our increase This is completed downstream not is Geismar, our expected the margins more The to further as does are to Louisiana in North
more and differentiated. to gradually markets to our to continue Asian This Asia. growth has elastomers and this The coatings in startup footwear be shift to projects polyurethanes. were from also capacity benefit in fueled our of portfolio and our region The region region growth applications. we contributors as expansion adhesives, of to infrastructure the Turning the added to large-scale our continues newly China China
Additionally, our penetration. market, despite downstream our the automotive flat with given ongoing decline overall was the market year in significant prior roughly a
substitutions to We that market. continue ended. destocking market believe the from share We customer benefit in has the in gains and product region automotive
improved Asian We customer improves. restocking are through visibility inventory region. the seeing and the Component as quarter pricing confidence MDI in
Europe. to turning Now
in margins Europe were downstream stable. Our
and well demand. A issues environment such customer combined as we has impacting negatively as volumes been were lower with had than by by our has as our in on weak improve geopolitical The European as automotive slower automotive. primarily been have construction in However, Brexit lower well business schedules to changes behavior. European macroeconomic weighed regulatory in impacted expected. adhesives impacted volumes demand, Europe region tougher production as
should MDI improving in up lagged some be markets to about seeing as signs to It two starting pricing see of months. are insulation. also such that Asia to tend we pricing show typically we Europe noted trends in However, one by component
progresses. could cautious glimmers demand lead European that year region related the elastomers remain in construction on improved we to seeing and we some the region, certain While are as the in markets
turn five. slide Let's number to
the of globally within region four these core majority our continued our charts, the differentiated graph component control differentiated of what our the in volatility polymeric materially not division, margins and remain by our A focused in Within in to on can polyurethanes The business and we was differentiated executing on stable. remain and base MDI margins margins. urethane indicated impacted by business portfolios. downstream short lines reflect As is we experienced term our strategy.
we change annum. growth long We not X% see seen the fundamentals a industry term the have and of to market X% material per MDI to of continue in
will going acquisitions. both through bolt-on internally continue in businesses, and faster more and stable We downstream to invest our
and the term. globalize upstream to new utilization flow Industry In rates recent short absorbed, expect on our into addition as the continue long over industry we term to the Americas, increasing in our splitting acquisitions. enters average the ebb but in and will we to the the gets market remain capacity capacity over balanced
be for We our to business to clearly modestly fundamentals. urethanes and seasonality MDI above the quarter second first expect quarter due the improving MDI
expected in MDI to the the be in compared well Our stronger of second to when is XX% urethanes first quarter excess business quarter.
in EBITDA Our MTBE an million business of the first quarter. reported loss $X
and the profitable be to expect second C-Factors improved We due to seasonality. quarter in slightly MTBE
new largely volumes started in performance Let's million. EBITDA economic slide to comparisons Harvey. were Hurricane year, conditions due due capacity segments our in $XX tough products XXXX in the to The turn business first prior occurred as number intermediates reported X% The a softer and Total to restocking lower volumes versus largest upstream petrochemical to six. the of due up. decrease quarter of
amines. Our surfactants ag chemical sector and weather of certain to was reduced volumes adverse our due in soft also patterns, which
chemical to ag the year. expect We segment throughout recover the
services oilfield However, our gas we urethane downstream did growth see markets treating, and in of additives. targeted
margins decline intermediates overall up in Our were offset by year-over-year downstream margins businesses. our
and and of to the our drive year. of Our improvement will markets. improve. results We of performance continue masked business the in strategy prior to derivatives remain when Maleic be and the in downstream applications working margins differentiated to that is long our our compared will term continue American push This more products. to believe lower will differentiated anhydride European more North by stable into fundamentals somewhat intermediate businesses underlying growth
adjusted quarter should to first performance EBITDA when slightly better for We products the quarter. expect be that the second compared
Let's to number turn slide seven.
the which of sales $XX EBITDA in last advanced sales offset $XX markets market to raw material helped driven business million, year's higher manufacturing including power, organic of impacted lower by We adjusted and also through other destocking a future fixed currency last costs costs of and Higher aerospace when macroeconomic a were essentially Higher weak such compared acquisition consider of quarter reported year's Our is that we construction, as was quarters advanced fundamentals. believe capabilities, quarter to last our due $X inorganic EBITDA materials our for in both and a year. as by million. was and automotive million the experienced most in in to higher costs technology to EBITDA the decrease material raw support in investments to recent platform growth. headwind last two R&D materials that Miralon. complete. and the growth We
are level to demand. seeing We now stable modestly a of improving
results of we first million to second between somewhere record and results. last For $XX be expect quarter, the quarter second quarter our year's
Let's turn to slide number eight.
destocking. million the last effects the from Asian in markets uncertainty This $XX to was volumes out year. impacting the reported resulting customer which causing due China first versus has textile prior of is Also year. that knock-on of has driven volumes, and $X prior surrounding part shutdowns. softer the many XX This EBITDA division in is million, down effect EBITDA decline mill the demand Our of quarter regulations, declined lower environmental that significant of XX% in across the been trade by
in a effect many explosion material in fatal on China raw has resulted having prices. chemical recent a Additionally, shutdowns temporary
X% offset supply down pricing raw volumes note sales While our headwinds for significantly higher that net sustainable X% segment, volumes were continue while and increases It volumes quarter proactive to business XX%, for important down the to initiatives. currency several the we unchanged total helped towards term customers costs We global basis. during were because as down is more believe for a the next of remain the These have specialty this should quarter. long to and price only material can offer down only the were mid-teens were fundamentals positive friendly and environmentally and years. solutions that are the on for move
the seeing in this patterns part of improved stronger us seasonally confidence a quarter. which early are of gives order We quarter,
to last EBITDA, adjusted be adjusted second year's was effects textile near this EBITDA year's expect in which quarter second strongest history. quarter quarter We
Sean? a minutes over concluding Sean our to Before sharing would thoughts, I few Officer. like Douglas, Chief some turn Financial to
