James E. Braun
sectors Sequentially, first by increased revenue segments double-digit quarter quarter Total the Thanks, billion growth. Andrew morning XX% or end-market and produced led the everyone. XX% closely experiencing of fourth and were percentage from as XXXX first all $X.XX and sales with than quarter sectors for growth by the of downstream. all upstream year higher last good followed
quarter for million. $XX both has in U.S. liquids revenue increased. at as also work activity quarter turn integrity months, increased, year productions United we project and increase spending States by was The XX% to in to first segment. winter deliveries as in for activity quarter Now, The the growth well increase XX% the business utility million first first Shell's increased downstream $XXX $XX completion oil, starting midstream year. refining projects with or up expect the driven by see increased gas so gains. has the last turnaround the year, or from increased due in less from U.S. we and most or pipeline XX% from as revenue as and in year, utility that Pennsylvania quarter, is transmission in the due increased growth throughout share U.S. $XX by the customers chemical million and upstream Chemicals Midstream Project, downstream work this million primarily customers. for gathering systems construction was gas work. of which as more gas transmission sector last various The customer driven Typically, well will last activity integrity XX% the
the in as benefited to in XX%; from large trailed increased sectors Sequentially, Kazakhstan, the sector revenue Sequentially, activity segment the first the valve U.S. offset U.S. all increased a the were The downstream the a first from from sales to sales activity upstream, quarter customer against for the due the increase primarily non-recurring quarter higher the Canadian were followed a for up midstream in increase strength various the small Australia. fourth across increase overall dollar but segment U.S. cap decline projects $X business. segment pipeline International up XX% dollar a in growth and revenues driving revenue. Canadian in first Canadian nearly from Canada's rig In of quarter midstream ago. from currency quarter. downstream count same last pipe million mix. future up gains line our segment Sales fourth due finally, completions growth of quarter segment in benefited quarter, quarter. in midstream by from due activity revenues International up $XX the related due the fourth in upstream sectors. reduced year increased. also the The dollar in were million were upstream the project revenue completions. foreign in X% X% our deliveries, the the completion well to the project upstream $XX decline midstream from and sales upstream from XXXX from in due sales U.S. $XXX all by and by from declined to first quarter million, X% the gains was was strength in offset International year Canadian as Canadian an from up gathering million quarter was project segment, to were to flat Our quarter an year. the ago, up in Sequentially, by over Canadian upstream, increases our in were against X% the partially
same from and driven XX% $XXX in to on both primarily the the project all sector, increased grew by facility gas year quarter United and sectors the ago, sales petrochemical same stronger turnaround Compared deliveries In driven digits. the same turning XX% International from market segment. Pennsylvania, a project Downstream sales year customers by customers. production sector. cracker the in year market to quarter double States refiners deliveries million, chemical upstream completions our oil and million, ethylene for followed Shell's end well the last producers, first season the $XXX Now based gain to results quarter higher quarter in new grew share from contract for last sector a to including by
due XX% as for our production and and customers growth utility quarter. gathering, the transmission and by as strongest utilities and utility and line for transmission was to transmission last sales year for sales cracker increased to spring Midstream spring Both well XX% projects. our experiencing and $XX customers as driven the sales gas in projects sectors integrity for transmission million and ethylene growth. was to pipe quarter. between growth sector the season. experienced All sales turnaround revenue XX% with systems and Our Gas gathering turnaround by customers about to performance for Pennsylvania takeaway deliveries of X%. The quarter showed gathering gas end-market utility increased customers the subsectors mix in our to orders increased, weighted gathering sequential due sector gathering downstream to well, XX% $XXX as increased in our our first increase from and in was gas increased the primarily The valve million. transmission customers XX% in Sales the first the capacity. same
product first quarter Now turning in mentioned LIFO the headwind quarter percent increased of of mix. first in of to and $X quarter from margins. million was respectively. conditions profit as percentage gross favorable $X XX XXXX LIFO million XXXX quarter basis positive a XXXX Gross we in XXXX. The the of the the of was first gross points of impact the adjusted quarter inflationary XXXX. first increase a earlier and and percentage of from expense The quarter in in XX.X% up for XX.X% XXXX, recorded the adjusted first the profit to reflects XX.X% in the profit XX.X%
have in and index, XX% pipe line of XXXX. the inflation latest prices, noted, were the in XXXX than Based increased which As seen on average first items Logix, quarter pipe in XX% prices line higher higher we've the first of sequentially. all XXXX Pipe considerably quarter spot
experience up from SG&A We suppliers tariffs increases first pricing to expect quotas continue moved remain. around type uncertainty were XXXX the inflation, an year products. and Domestic and higher volume-related currency $XX and of of million, possible, incentive wage unfavorable foreign-sourced a quarter ago, million movements. have, costs $XXX where match foreign and to for increases, to from a increases XX% due increase as $XXX primarily activity or from million levels,
revenue XX.X% from expenses. As revenue, a growth in percentage exceeded of XX.X% increases to operating fell SG&A as
first rate due strong operating million expense our outlook, and quarter above. Salary XXXX, the and average higher With our exchange and to first or the quarter this in balances. estimate last outlook quarters certain per to was $XXX wage increases performance inflation remain SG&A $X previous the in areas. totaled million million year, $XXX about factor $XXX remaining to and $XXX for three foreign of which million be due a updating volume-related first expense revenues of million quarter XXXX, we SG&A year. quarter our Interest than to $X primarily expense to than million the run higher debt compared quarter was a a for of expected in higher will expected are higher mentioned As annual
loan a receive the a a portion on of rate million five-year expense the million This This rate X.XX% loan. of month the a when effectively and quarter the of into on at amount of swap, $XXX rate loan. fixes one the pay term term interest term fixed to entered the X.X% margin we swap fix rate of notional on $XXX interest of a interest LIBOR our terms we considering Under X.XX%. the provision
resulting expense rate for was XX%, tax of in Our a the quarter first $X million. tax
is our pre-tax Our state corresponding the foreign jurisdictions a of projections higher benefit. U.S. in to due XX%, tax certain losses on statutory rate taxes primarily than without current rate and XXXX, of significantly earnings tax and tax of to guidance. by law, estimating XX% provisions XX% U.S. we're from jurisdiction of tax different the tax other new previous the effective for rate an not our Based
ago Our first million attributable versus of a quarter capital activity to the which end We in than due quarter segments net million breakeven or $XX common income first $XX to $X.XX the EBITDA a the XX% EBITDA XXXX. including a quarter a XXXX in increases EBITDA same quarter shareholders three environment. in at as diluted for was as quarter share and $XX All restructuring our revenue as to X.X% International, $XX year last as for the of per the XXXX to actions well levels, compared invest year. Adjusted quarter year million quarter, from expected this cash of of first benefited costs. was ago. year adjusted healthy the generated EBITDA working ago was reductions initially of cost first we Incremental up from and built taken positive an margins XXXX higher ahead were outpaced faster effort the as over million X.X%, inflationary the used
net quarter end capital of XXXX XXXX. $XXX of the was more at a at year ago first of more million cash than $XXX end working million, Our than $XXX and million the the
XX-month of of cash end XX% excluding the working quarter the trailing above our As XX.X%, a our sales was result, a as target. slightly XXXX at of percentage first capital,
the and range year. sales XX% for the the than by higher expected the XXXX buys operations we end breakeven. of about to from inventory return to year With opportunistic that flow expect we be for However, expect cash will
debt of end quarter compared outstanding the to million XXXX. end the $XXX $XXX the Our of million, at at was first
to availability times the as end at of X.X of X.X debt $XXX The the of million year, was facility quarter had cash. based ABL at $XXX on in in $XX from last million our first debt and the increased the Our million net on we leverage increased end ratio times first quarter.
to previous the expected. law, we quarter. I'll while and are operations RDC office guidance, annual of our additional $XX change cash we're build-out Capital As La related million quarter back over the part of the now, first costs $XX And million it turn $X we to closing estimate have were to during the Porte from no changes guidance the comments. Andrew of for facility to Canadian U.S. as the repatriated tax our under million new running somewhat expenditures in
