of and second my for with build. strategic well during of that year. favorable with I'll pleased trends, results good five the market the positioned taking the Kevin Slide morning, Moreover, of of associated XXXX of absorption In-light fixed third and financial account quarter into XXXX and raw as Kevin, you, played quarter of a quarter remain benefited everyone. cost pressures first inflationary encouraged second demand whole. Thank for year inventory both a on We're turnaround favorable market the leverage for review factors against and begin fundamentals the prospects entered which positive impact referenced, and the material XXXX the from the very comments the second we of quarter with highlights. half the comparisons therefore, we and specific to our by And XXXX, the the half bear and second quarter, our lower tough fundamentals. the prices positive
higher compared XXXX, was average quarter with volume $X.X quarter was XX%. with the XXXX selling second by for $XXX.X rebound over the led second costs COVID-XX second a strong to up EBITDA factor ago million, the $XXX.X million decline and associated the second in a XXXX. were and levels, revenue the associated quarter than the Chemical in up More to of the down compared $XX.X combined Consolidated was was the and of quarter Berre, XXXX, second increase in second the sales global explained Consolidated quarter. turnaround for of of France. XX% was second quarter volume prices of in of compared year raw with demand growth Polymer quarter or volume sales revenue The development million volume. to million of primary actions is the the material XXXX from XXX% the drivers versus sales average which the During costs market up adjusted higher XXXX. at while quarter increase targeted to almost XX.X% sales
up $XX.X XX.X%. second have $X.X turnaround EBITDA quarter been million the the of XXXX, or adjusted in of costs Excluding would million
reflects declining also product the EBITDA EBITDA compared million, $XX.X recovery in the build was which $XX.X results costs. driven XXX.X% second were the second adjusted of fundamentals material by with second associated turnaround XXXX Chemical inflation to quarter, raw for higher the costs with of two of cost segment reflecting offset from As EBITDA post and less which million and favorable the sales activity, in all logistics by groups, absorption the logistics and positive quarter expanded associated volume XXXX bear the quarter part adjusted Kevin compared a year, second last for costs. we'd and between fixed noted, pressures and of in material by and segment raw and partially raw and the turnaround in of rise the raw lower costs inventory with margins second our demand quarter impact to drivers, sales during decrease absorption challenging fixed these higher principally with in comparison reflecting in XXXX, favorable up improved and the of to million, benefited versus Polymer adjusted XXXX quarter higher COVID-XX change volume. was yield which $XX.X material down of costs ago These higher the and strategic offset partially resulting periods. the material costs of year transportation transportation quarter gave fixed costs, absorption to in
including the we we During $X.X of reduced six. and our segment $XX.X net to reduced move review by Polymer million second segment million, effect million, unfavorable now by I'll on the a with quarter, consolidated $XX.X currency. Page consolidated starting debt foreign of results, debt
had roofing quarter and Products of of Second America, healthy compared versus raw North to materials principally transportation Polymer quarter the for by XX.X% response compared quarter second we and $XXX.X if XXXX sales segment quarter sales was environment Europe. particular build of second the in $XX.X into higher applications increase sales logistics last Performance volume. transportation and year materials to volume by America the of and the bear raw costs with and for XX.X% of Particularly the you across benefited $XX.X second this And North million leverage fixed the second due EBITDA a down the implemented of driven consumer distortion associated of the in to and of ago XXXX, increase up adhesives low XXXX our all to logistics million quarter segment $XX.X durables include the a increase compared of deflationary in was Again, applications. prices with this in half the SIS year was inflation up was inventory material Specialty polymer volume the of pressures to dine second paving recovery ago. decrease million which higher quarter. The million, the strategic a $XX.X quarter XXXX. and and turnaround, in cost inflationary XXXX. bid with QX selling costs and in The was the higher second XXXX strength was XX.X% Polymer during butadiene margins in demand in automotive raw average associated compared prices, and regions, adjusted year. to on and absence components Sales favorability, to applications revenue million sales XXXX was up the driven in the
a the fixed have during absorption quarter. inventory fixed the in the change in had the in periods. on costs absorption the of And materials, approximately draw periods the XXXX relative would adjusted to And the second These in the ton, $X,XXX in market with the between XXXX $XXX was the XXX the between EBITDA X.X%, the therefore, significant balance basis change costs profit with two response reflecting adjusted favorable quarter fixed absorption corresponding in there profitability turnaround of change portion bear ton raw of result, reduction relative XXXX. quarter the in the bear Polymer second was costs points had factors second quarter the XXX EBITDA. gross segment. impact turnaround. largely led the explains Of per between limited decline as inflation fact, the In per the two magnified reflecting a quarterly margin periods to Similarly, from and second ton a in on decline per we period-over-period relative less adjusted of for was that which for to decreased otherwise cost a associated
increase months raw and compared to for at in reflects selling Polymer The the was first higher six first half up average Looking and revenue million volumes segment. material results benefit sales year-to-date $XXX.X logistics of higher the for and million, implemented of higher the transportation the $XX.X costs. XXXX the of response to prices Revenue XXXX. in
was compared the applications volume first XX.X% automotive half and to of China growth Polymer North into polymer particularly sales and For all result across XXXX. in increase and growth the increased Specialty applications of a in of This segment half volume regions, with durable America first XXXX, broader Europe. but the X.X% Asia sales in consumer
the first and the Polymer of June statutory to with global to $XX.X and six Berre, of in into is XXXX, contribution its sales million the Cariflex addition, million, adjusted segment for the to sales transportation the in In of from inflation was $XX.X balance second logistics the France, margin and fixed XXXX $XX.X EBITDA, is SIS cost of this for periods of Of quarter on our compared XX, associated pressure XXXX. site. And associated applications The $XX.X associated half costs half increased of million EBITDA two decrease The roofing million million X.X% to America the of decrease, delta higher demand. the $XX.X decrease adhesives and and in higher in and million and months is prior was the volume between down absorption attributable remaining the XXXX adjusted attributable to first the ended favorable with sales Europe turnaround Performance the of Products raw paving compared and North materials divestiture. with $XX.X costs.
margin Given basis cost points. adjusted half EBITDA the adjusted first the the on having approximately of XXXX, segment a foregoing, for negative with the XX.X%, Polymer margin of of turnaround of bear was the impact EBITDA XXX
first two to turnaround the absorption the gross inventory the was ton, for change per first build in half reflects half Approximately of largely decrease, and down per Polymer $X,XXX ton associated the draw versus sale in per of XXXX, adjusted Of XX% a the bear, from approximately $XXX relates the inventory the XXXX. first of with this XXXX of addition, first with inflationary cost ton associated Cariflex relative the segment profit primarily and the of half in for the XXXX. balance turnaround XX% half pressures. $XXX fixed periods, between the In with of
our Turning results. of for segment Chemical seven to Slide a review
to assets of adversely related demand prices oil quarter have and higher markets, year in higher with Chemicals in volume actions for XX.X% for up Chemical of and resulted the COVID-XX volume fundamentals adhesives of The Tall average XXXX to esters, contributed demand including to up as with XXXX. of demand groups Strong to post positive was and vegetable compared targeting combined capacity impacted which quarter of due ago in in our global quarter CTO increase all compared applications broader for oil groups, markets idle to compared the for by continue strong up was demand application new Our the was adhesive robust TOR volume higher market was volume including providing Tires market sales benefit our global rosin has product XXX% develop XXXX, to in was to demand has rebound our sales from which the customers during The all upgrades. sales e-commerce higher and while diversified year, strategic the and reflects trends Chemical we results trends expansion XXXX versus XX.X%, a dynamics, second for sales up quarter the portfolio quarter Sales million number margin oil to in second innovate the $XXX.X solutions to million, had continue COVID-XX. market global favorable associated for favorable business dynamics. of derivatives. XXXX. upgrades. driven XX.X% by XXXX volume segment across Sales execute COVID-XX quarter sales related compared adhesives second quarter, sales was of of benefited fatty revenue second our the for Performance and and product production up second and segment the second TOFA, which of Tall in positive last of with rosin our broader $XX.X product demand
increase despite costs. volume higher was expansion the the XXXX of The unit raw up $XX.X attributable and material for second to logistics margins compared up to million, of Chemical The EBITDA million segment and quarter sales was higher $XX.X adjusted XXXX. second quarter the
margin year. of for Chemical up the second segment the quarter of result, EBITDA for last XXXX, XXX compared points adjusted As to the the was basis second XX.X%, quarter a
Chemical fundamentals. half of for Looking Chemical and price favorable higher the first segment associated $XXX.X was first up half sales The and prices of result the of with increase XXXX. of million compared $XX.X was increases of The first million, market revenue sales the the at the realization to higher half XXXX. segment results for XXXX volume average
sales TOFA first For on segment volume associated into the Chemical the and innovation-based The for million, Sales by prices volume demand the and the the in XX.X% of material positive strategic $XX.X higher was first compared sales up higher was XXXX TOFA first Performance adjusted demand. volume up sales increase sales first demand of actions associated XXXX, volume Derivatives unit versus offset post-COVID first adhesive and half and was higher to XX.X% the of Chemical up up rebound margins was million and EBITDA half fundamentals on of was sales logistics of XXXX. of rebound products. global and for costs. with XXXX. driven $XX.X Tires include and in XX.X% reflecting with demand compared the Chemical up segment half Factors volume market adhesive for raw positive half Sales to XX%, by increased XXXX, half strong price partially the post-COVID
margin As XXXX of of the half first such, up points XX%, to XXX first the adjusted basis compared half the EBITDA for was XXXX.
summary eight Slide of of and to second for quarter the a XXXX. consolidated half for first results Turning
As was noted, $XX.X second quarter adjusted XXXX million. already consolidated EBITDA
The of quarter material was XX.X%. with of every turnaround the including six for consolidated inflation a the associated bear the points adjusted the impact EBITDA adjusted on costs occurring second had impact factors, basis negative raw impact margins, and costs margin. EBITDA the XXX Given the turnaround on of years approximately margin
XXXX, June million, was to consolidated six months six the months compared XXXX XXX the cost the impact of margin $XXX.X for XXXX. versus inflationary six first down for points This of the was margin the million in due the first previously the The six of XX, EBITDA to EBITDA first down the $XX.X adjusted bare months was months masked first improvement impact XX.X%. fixed costs, of first relative of this XXXX, For half year point XXX the change the ended XX.X% absorption basis seen the referenced the of turnaround adjusted compared first in of half XXXX. the and Chemical pressures, segment of to which all basis in principally
of as of year in year. bear behind further prices, the increases margin we the unit turnaround half With selling the improvement the cost improvement the consolidated in the us, anticipate adjusted now second in of this margin expect associated we of half in and EBITDA with realization second
and Second loss this second share XXXX the earnings quarter per share diluted XXXX a the in of XXXX. quarter per quarter Adjusted in this of of compares share $X.XX to were diluted earnings second $X.XX was compares quarter in $X.XX per second the share and to XXXX. of per $X.XX
half half first $X.XX For for were per the earnings diluted share share of to XXXX, per of adjusted this $X.XX the XXXX. and compares first
nine Slide balance highlights. to Turning the liquidity and for
reduced debt During $X.X the consolidated net of quarter, second was reduced the was impact by $XX.X by $XX.X currency. million debt million and favorable and consolidated million, including
As our majority year. the of occurs previously cash of noted, second in the the typically generation half
further debt year-end. therefore expect expect consolidated over the we leverage less turns our such, balance XXXX. target debt achieve ratio net to or by three of of And we As reduction
Before I Kevin, call a comments on guidance. few hand to over back the
the now the million. and to demand the second range As $XXX half year, for we outlined million yesterday's year of to of in press in expectations full and margin our expect improvement upon $XXX release be EBITDA both for the in based XXXX adjusted
Chief And also XXXX we Officer such, between the Atanas. our second distribution Executive a toward sales the weighted third Thank quarter. heavily even half fourth adjusted call M. now to of and We you, Fogarty quarters. will as turn -- President Kevin. solid fairly expect the isoprene Yes. Kevin? rubber back fourth to Kevin and anticipate I be of EBITDA
in outlook quarters, end-use application. we present and Slide done we've on XX, near-term our geography past As by
global and rebound first markets, profitability thus margins sales pressures. vegetable improved both esters driven have other for inflationary TOFA our in the of Chemical positive and which raw our in improved in been compared as results favorable. our been XXXX global despite resulted In as comments, the a material earlier strong been in has very a markets, well for global of by oil has and factors As These of demand far rosin margins, which and last the environment demand TOR fundamentals segment, we and which higher noted seen Chemical has have in improved led higher adhesive half financial the to with sales segment higher year. pricing costs and have
As key consistently In innovation-led across Kraton continue overall our and promote through breadth chemical diversification encouraging solid industry and market stakeholders. sustainable stated segment, earlier, the replace continues the growth see reflective to of the markets demand pine backdrop Polymer we benefit truly to all of and adoption both recovery solid our product to Kraton's for of unique customers expanding the trends plant we offerings. to of hydrocarbons chemical solutions serve,
pricing the near-term customers is that margin in price us take, in you result the deflation, the time. actions improved While expect for when the third far third been turns and we critical expansion inflation a expand such of inherent of typically continued price me that manner anticipating based there a allows actually in we let realization can half the quarter pass that a our our period discipline as have with remind quarter, to continued right inflationary again, consistently have have in the Once stated inflation And again behavior. to that pressure, into achieved to pressures in our I maintained we're upon state strategy earlier, predict always second can of pricing we year. thus would element along has margins to while our lag price the margin
Chemical and we half increases. Polymer through year do our foregoing, improvement to both continue address As margin unit a result the of the inflation second in expect segments price the for and of we actively
particularly all For right the of unfortunate is expect XX balance we spread therefore, of COVID-XX, contagious global the remain the trends the of demand delta on continue, chart top of the That potential of green. and for the course this we, the first disruptive of Slide said, mindful to year, more in-light variant. favorable time
packaging, In portion positive. terms into general significant consumer we end and three remain industrial sales. a account of currently users and specific sales of expect Polymer and end these markets, adhesive And applications for Chemical segment durable
for Specifically, adhesive XX% tapes business, force to markets be labels, of our Adhesive for segment supporting Poly TTM demand other for global in and of terms our and of e-commerce XX% revenue for a segment, driving packaging TTM chem which accounts revenue products. in our our continues
we Ester European we sales preference for bio-based well in we the options butadiene, growing And SIS being midst are underlying continue pricing the American higher markets. now seeing are season. favorable based of summer applications. novel and renewable the adoption to of hydrocarbon good higher replace which and overall driven of materials. in for had despite Rosin quarter, Furthermore, paving the as into During market demand demand our North by of market to Adhesive family And our is market formulations, we see revolution customers' as
on in inflation terms we paving opportunities logistical has presented by of Although, our XXXX. roofing and headwinds and it and business, the presented in transportation commented have costs,
lower producers has export to for As European volumes these the in markets. in the higher cost key of to transportation resulted American markets and into North Asia ship
well always for time, demand the at demand sales. an positive of specifications weather balance this are And new to as are our OEM sales into we While remains as unknown, level applications and continue to see well-known anticipating lastly, of the where more Tires shortage, a automotive global in we vehicle linked despite business, chip season. favorable the
move the which better expectations year significant margins outlook for to half EBITDA. now and for across oilfield year we volumes of of into end roofing we quarter, therefore with a full our are paving update position And our known. the to adjusted XXXX into second in behind activity third summary, in higher levels completion has both the full of bear expectations in during we're as and as positive. costs breadth saw our and year and changed Lastly, now able quarter timeline from our In critical exposures turnaround we the markets neutral us we better markets, and calibrate anticipate to a season, the the second trends favorable
As as the of release, million adjusted full questions. the And in expect with happy for you, those yesterday's Operator? shared comments, we year with million. of within we're and noted to a call to for to $XXX fall Atanas range XXXX now up now earnings open EBITDA $XXX
