you Good Ivan. morning, taking you, Thank to everyone. for us. time Thank join the
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quarter ago. essentially volumes flat versus were European and a year fourth Asian
head pricing development We are world's we largest quarter China, in MDI the to first of as market see XXXX. into the pleased strong
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declines. impacted quarter each Overall, as million. trends as by During as improving increased moved to see in the low shortages. month automotive single-digit each by volumes to - XXXX continued global month and from each the high declined our our teens volumes quarter, the platform over revenues in chip did year-over-year in be XX% well-publicized to We we $XXX moved the through
our to bring continue will innovative solutions the Our customers. is automotive to platform core in to we business, invest
push quality of molecules detail goal downstream. our to continue to of key recent Polyurethanes upgrade the portfolio we business at is our As Day, the in and discussed Investor our
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will in our where organically component we are bolt-on also where businesses businesses we more can sense in acquisitions, it generate through through doing makes our stable downstream margins this. contracts invest long-term We higher and
splitter is drive consistent growth us will investment margins. with overall Louisiana increase to MDI Geismar, this Our helping This in in complete and downstream strategy project mechanically be in our April.
million XXXX. commercial confident remain by and the capacity investment end adjusted end selling second towards contribute at in operational annualized We XXXX. the have the will on operations EBITDA an once will We fully beneficial of that quarter $XX this basis of incremental of
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on Europe offset we surcharge to XXnd, energy announced per First, MDI rising on in our EURXXX costs. September ton
to as continued needed. this adjust We have
while basis. quarterly. pricing Secondly, give contracts react moved monthly flexibility us on our conditions. This to settled to was will market our settled better of settled action, of was monthly a be we this to changing Previous the XX% remainder to XX% move volume nearly have about
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build focus optimization target would we million schedule we mid-XXXX. $XX program. we $XX cost and on achievement that reduction optimization now as by that Day, Investor million on part ahead our initial of million During we have announced is previously We that of program. cost $XX program reached our Fourth complete our our announced cost
tonnage be will achieve - markets to more we We can tons moving differentiated margins. higher where
margin in tonnage to any at the is increase XXXX, per Throughout stated margin markets be price. we exiting either lower increase pound margins our of we will not last billion or So GBPX to on more invest focus and will China. nearly year, MDI, markets when conditions, our North of supply our America, waiting in intend core return materials to markets divert to we Rather more higher chain for period disruption stronger we this it. entered Europe, than raw and from tonnage to and normalized emerge to than
EBITDA first expect the million into million of would year-ago. and quarter approximately Polyurethane's significantly equity strong to million EBITDA. the of saving $XX first-quarter and $XXX be Looking despite higher costs adjusted at We earnings between in feedstock $XXX our adjusted lower
above which performance by EBITDA expectation Turning adjustment high segments to products the was million of $XXX accompanied our the adjusted end EBITDA reported modestly of margins. X. strong for and The fourth Slide quarter
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in from positive business Investor is foreseeable So excess that continue XX% this we benefiting we described future. factors the detail in Day, of several on EBITDA will to expect our for margins keep
products over strategy intermediates out no focus this the throughout our different. of is increased a business the on an of remaining performance business continues and volume since business sale volume focused value and all divisions we over value to First, are commercial benefit our on
and Secondly, we are pushing value making end-use volume applications progress, into higher good customers. demanding more and
demand in continue has has polyurethane The during and Third, products EV demonstrated catalysts markets the been that have and by projects performance we capital North that move consistently and strong. chemicals XXXX to semiconductor and in selling our sales America demonstrated volume Europe, prices announced been forward. serving three
projects these than contribute deliver $XX of to deliver million in million all EBITDA XXXX $XX expect XXXX. more to than in results more - of We
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to targets, capital. will remain continue disciplined to assess but with we bolt-on our will very continue also We
improvements we continue performance and in saw during XXXX XXXX and products profitability in into to that expect earnings momentum beyond. We
The first the quarter tends to be to a seasonally fourth. stronger when quarter compared
performance currently we expect of first-quarter result, million. adjusted to $XXX products report EBITDA $XXX a As a million to
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our rates. specialty core estimate our continued We year-over-year modest is levels. $XX in actions momentum positive growth million continued the throughout into fourth across show pricing We XXXX, sales aerospace However, EBITDA and the in pre-pandemic quarter aerospace approximately improvements discussed below our business commercial production to with that our portfolio.
CVC across the XXXX. continue for $XX division in businesses prices To well helped quarter recover, Gabriel Underlying better. $XX raw In that aerospace The synergies, first of cost additional XX% achieved for is positioned drive improved tracking record addition, margins well. generate as on and EBITDA be to the we or have and to These we pricing our and achieved Advanced positive these acquisitions and XXXX. actions portfolio we're have to Materials in million track. of quarter million inflation. in another material integration consistently date, in we've remained to by increase logistic us response recent results this the the our confident demand - of margins well division will of expect And
through this continue will division grow acquisitions. to and bolt-on targeted organically We
first margins to momentum the and in of drive aerospace fourth the expect with combination will quarter. we into demand which The synergies improved continue exited the automotive year-over-year improved quarter growth. We
year-over-year to at million result, $XX a EBITDA of midpoint guidance. an be impressive quarter $XX adjusted expect between we is XX% As which improvement the this million, first and
eight. number slide to move Let's
$XX we the the non-core year-over-year. in Our the sorry, reported of growing grew me, increased volumes of sustainability-based lower performance deselected end and XX% Volumes margin fourth in period. for Effects our on products and million versus specialty represents XX% adjusted as sustainable business a - improvement our division an This and Overall declined our ago quarter. EBITDA focus the our excuse year Textile quarter X% business.
adjustments pricing logistics this and Our to in shift offset margins portfolio from materials costs. benefit raw higher also
specialty as ways look are as in transparency to and Our and brands, customers, chain. waste supply gaining increase well their reduce our global as products market retailers for share
see long-term on confident are continue these that prospects improve We and of specialty positive to remain grow. to As footprints, will social make and to meaningful would expect leading continue our and the sustainability business groups products improve. EBITDA more we commitments this their to environmental
see to prior expect the we order quarter, a forward Looking first and improvements to versus very solid the have strong book year.
expect Financial to million now Phil quarter We EBITDA the first minutes be in of our to in turn the Officer, million. Lister. a Chief Phil? I'll range adjusted $XX over $XX to few
