you Thank join taking Thank Good morning, you, Ivan. everyone. the to time for us.
Slide the X. Let's first turn to our in for number quarter Adjusted million. Polyurethanes division EBITDA was $XX
put environment, the to specifically America. during This North continue our pressure destocking, Polyurethanes in to the continue markets, We with competitive significant destocking pricing across see on quarter. combined business substantial the
fourth in regions, EBITDA sequentially quarter. both the Asian European XX% in our improvement and a However, conditions to driving improved the business and compared nearly
for Which X% the significantly seasonality. with declined normal the destocking lower All in with accounting XX% Overall X/X versus year-on-year. sales declined line of the the volumes with Loans is significant demand year, reduction, Americas sales quarter and also impacted in the regions volumes. declined prior in sequentially. quarter
fourth versus region Our quarter. sequential a did improvement show the European
moved costs destocking subsided conditions business lower. and As stabilized,
From from appear point to be conditions improving our vantage steadily low year's Europe. last point, business within
improvements Most in both sequentially. prior of $XX to by about $XX volume Automotive region quarter. improved versus per the falling major an and markets delivered prices the in average gas from prior MMBtu. helped year about Our was Profitability per business natural Europe MMBtu showed volume to stable other
I'll are lower the note they're than prices. X higher U.S. while that Gulf natural Coast gas significantly costs today, times still
quarter, our restructuring addition, was In while flat we combined seeing continued initiatives an European impacting sequentially, benzene MDI pressure. we as the continue competitive of previously expect did the announced the increase and to move margins of on our we remainder progress make relatively savings see Nevertheless, start pricing through XXXX. throughout with to positively cost some
to and demand, continue remainder year. of demand. do our profitability will better aggressively region in European mass to expect manage moderately lower the production lower costs We costs improve With and to we through the
with demand As will both of second progress smaller match maximum higher sales our we a seasonally month. as give are MDI have the the we and us flexibility our supply unit restarting lines quarter. in result the MDI improvement, operational This will to steady through our
residential bring better Europe core regions is improvements well markets, and we and and as energy to years to to come as Polyurethanes needed a and solutions construction benefit of for We energy-saving will to from will region innovative commercial efficiency. for drive lightweighting be our well-positioned remain many the business, the automobiles. for conservation both
the which with in did we first some with to see line improvements in shoots China, our expectations. steady was quarter, begin In green
slowly expect to returns the positive to on as We but China remain trajectory a environment steady normal. economic
such chain, markets. as in positive demand infrastructure, and trends end seeing consumer-related We markets, certain cold the are
quarter. the venture [indiscernible] joint in million POM contributed equity for $XX earnings China approximately Our
have second of residential region, continued Polyurethanes businesses. residential, specifically related which largest The that quarter level destocking results construction, our the X/X construction high is headwind construction buildings. is to impacted XX% commercial markets. is into which Remember is that of our our XX% of XX% Americas quarter portfolio the in Americas' and Polyurethanes' Approximately in end of first comprises new
For linked to has This the under throughout composite approximately residential was housing first significant construction, second wood going demand products, pressure XX% is which into year-on-year. the down with quarter. quarter, pressure closely starts moderated
patterns. Our In to the second quarter. continues aggressive and may is and insulation some markets, improvements in have spray appears bottomed now business destocking to our of through also foam be showing slight the commercial-related last most order
limited, normal order chain the project will visibility to when Our is supply our into customers patterns. and tough is it to full return
spending, we is which such pressure business placing about remodeling, seeing XX% to we commercial to such on reroofing, rising factors are construction new our of tied rates normalize as repair as While once and concludes. interest destocking expect
the right of energy will building on Reduction and and remain side the benefit U.S. we Inflation government's improved Additionally, codes efficiency from both Act. drive, we
automotive the our which construction, represents Polyurethanes business, of first versus XX% portfolio, sequentially global quarter. approximately both improvements volume delivered of the Outside and
to single expect We digits in the year. low volumes automotive be continue up for to
from X on Our back elastomers X margin platform, into we the of quarter demand overall see quarter stronger expansion profitability weakness. despite
macro stronger, challenging decisive the better when to We abate. are proactive Polyurethanes current taking efficient, business positioned make and our conditions and steps more for
the includes out $XX Geismar, our adjust working This rates on for consolidating savings back-office as are our and manage cost Rotterdam acceptable and Polyurethanes in deliver not we've We Furthermore, planned. we cash with million priority. accordingly, and at geographies laid top at that generating returns capital exiting functions. to track we're additional ensure aggressively generation continue to to production both monitor as
our last year. exit exited Southeast to site, in Asia polyurethane from addition We announced South have our America now
that orderly hopeful been we are during Today, exit of our from exit legal, and less remain multiple and highly towards we regulatory a also our complex many an compliant can in represents months environment. working operations, ensuring revenue, regimes sanction for while Russian than We've Russia with the complete fully corporate political, XXXX. we X%
trends in expect anticipate the quarter. second Europe destocking quarter We Putting to Looking together, continued million overall. as We we further into seasonal through adjusted move the see improvement moderating expect do destocking $XXX the a second we see that we be of we in the but States, United million. improving the all expect current to Asia to in Polyurethanes $XX it continue. to the EBITDA and for demand range quarter,
versus of XX% decline by in adjusted to equaling margins Products quarter a This lower turn Slide The partially expectations XX% volumes long-term fixed XX%. Let's first line EBITDA was a prior despite which the the year by ago. first number is the in significantly improvement year-over-year, EBITDA and margin X. lower in reported EBITDA adjusted to XX% quarter, in unit Performance million decline is $XX slight demand year our a a offset with for versus driven of primarily costs. margin, variable
significantly our Asia, The particularly maleic quarter-on-quarter, indicating quarter Despite volume in to decline amines anhydride the in all across is was destocking businesses. in performance experienced demand we the due and Europe improvements did regions, lower that see year-on-year, the fourth lower demand and in especially past.
saw in destocking a Markets positive significant trends saw fourth and which the adhesives, both coatings, we where in were quarter. construction, sequential
chemicals, lines namely modestly saw agriculture, and We batteries. semiconductor product lithium-ion serve in our that positive electronic also trends energy, sequential and
schedule, -- polyurethanes forward products the serve Capital as EV have amines semiconductor polyurethanes continue to past. and in batteries, differentiated insulation, we markets performance improvements serving on into stated our move
to up stable the XXXX. of assuming these -- macro macro conditions, we expect start by end projects Assuming
Performance division, at high-return available. invest we'll organic Products and continue when projects, is look bolt-on an attractive to and opportunities in possible
believe is level, overall be but each will our far, below So returns. running steady inventories customer prior average, the continues see in demand regions. market year pick below the up end We quarter and across volumes our first quickly are second to when with the quarter, demand we of
maleic quarter pressure the $XX range adjusted million $XX on some in be EBITDA moderate second with should ethyleneamines of demand million in current anhydride. pricing Products' Performance to visibility and based and Overall,
coatings X. With to versus EBITDA Advanced that, quarter-on-quarter Slide number Total Destocking prior the quarter, $X adjusted drove the on year reported of primarily though behind market. lower volumes. turn adjusted and continue increased volumes million to let's quarter fourth million in largely down due EBITDA Materials we an pressure $XX and sales versus our see appears increase infrastructure improvement. us, of to the
ongoing of was sales. The of sales XX% volume to bulk reduction commodity resin due liquid our part in decline
the primarily from demand, specialty core but The average. industrial was and our region depressed business down than Americas markets. less segment coatings, general was Our to adhesives, the due weakest
impacting compared sales to Our in stable primarily aerospace timing quarter. business Sales chain continues to demonstrate to improving trends. XXXX, the quarter of and constraints some supply were X due
airplane orders products have is with backlog of XXXX and solid, airlines. move for growth XXXX. order tailwinds demand in to and widebody expect is Our and increase production as through increased travel heavily new relied positive we which into rest The the our rates, from we
XXXX. expectations pre-pandemic sector remain will important that this return during profitable to Our and levels
to as well seek Advanced the bolt-on portfolio Materials acquisitions as to out business. overall grow of improve for overall the expand returns continue We the and
also hydrogen be into carbon across which are markets. such and move that forward a technology turn MIRALON it an with to different utilized We business, as provides investments, our capture organic to continuing methane, material can innovative many
development, business in this years. still While expect we over scale the coming to aggressively
improvements, improved quarter. first seasonal to With the results lower second expect deliver Advanced Materials the destocking quarter we versus and in
$XX division EBITDA the quarter this with expect margins. $XX of to second in We adjusted million, million be range for EBITDA to improved
our Phil to time Phil? Officer, some over turn will I Chief Financial Lister.
