Thank you.
you for thank the us and today. call afternoon, to joining everyone on Good
will the future. year focus results, today maturities ensure comments Our on our address for we taking debt balance we steps can the the strong the of the this near and in are to outlook quarter second
are cause risk subject note from under include statements. investor that filed our our to statements XX-Q After the assumptions, and issued risks and U.S. we are take provided and today, the factors and an and the earnings that today actual These uncertainties could presentation will plans, filings of law. market Please closed release, forecasts estimates published comments our language materials. securities SEC Comments differ results cautionary in the to earnings forward-looking forward-looking
With that, quarter's let's second our jump results. into
was Adjusted Water day million The fiscal million X.XX per $XXX.X for compared EBITDA to was of million and Solutions the quarter strong second driven Water the million quarter of 'XX. barrels $XXX.X the adjusted by EBITDA continued for second quarter processed for quarter. $XXX.X generated largely performance.
$XXX the and the year over are With quarters first year, EBITDA, the Solutions to on full Water generated start to million for million strong from Through this $XXX we $XXX of adjusted raising of guidance pace year, of has for water barrels are X million year. plus. billion Water disposal X we the Solutions fiscal the for
end year our oil costless we mitigate entered crude We commodity through volatility oil. oil against the have price to year swings this quite in of skim have to seen and prices, of fiscal a into hedge the collars bit
of EBITDA propane logistics, the with in back the fiscal their Liquids butane the are seasonal to of half Moving adjusted year. coming and majority
well performing strong blending butane season. business to a liquids logistics start the is with Our
would. DJ are but our contribute slightly in quarters, performing performance months, the our refined next internal propane that optimistic segment's the will third heating Crude businesses entering to where pipeline. products Basin and over Grand they expected XX will are is We the fourth expectations, Logistics and Mesa the the to below grow the benefiting as season we remain we XX adjusted EBITDA
reaffirming consolidated million $XXX our guidance We adjusted EBITDA full plus. are year of
We sales for fiscal timing year $XX results. to sales $XXX million there are these increasing could year. our reduce the be that with asset associated asset on another million EBITDA of sales, the would Depending these full
that the We of are also winter hedging our warm a results could impact logistics unit. against Liquids
previous to capital is spend of the full growth small $XX are guidance Solutions segment. to growth million for volumes from the versus a the our attractive XXXX million impact a our We return. rates Delaware EBITDA projects. increasing of additional these due $XXX The in expenditures for contracted Water generate year impact quarter We that fiscal and see to our in fourth in starting adjusted opportunities should
planning growth I this are sales with asset incremental the We fund mentioned. capital to just additional
second quarter with X.XXx of the fiscal the to continues, in absolute strategy debt the leverage Our leverage end and X.XXx ending XXXX. versus at quarter of reduce
last we $XXX debt reduced the Over approximately absolute XX have by months, million.
$XXX over our Recall, notes the balance million. XX at disposition marine calendar we balance beginning of equipment notes in time million retired reduced this early frame April, the year, and produced note $XXX XX ABL our the the eliminated after asset by
balance flow cash and to through sheet We growth. free on EBITDA our delever are the executing strategy
gotten these notes purchases open the has pricing unsecured make tighter, We quarter the of this to did not notes X% any during tightness X.X% yielding to for the the quarter. future. XX expensive balance, as Due to focused more is and address capital near in have we our balance more reducing the in structure optionality the gives the ABL on which reducing XX unsecured our notes, market us
earnings the all as last unsecured we go we our paying this call, here sit notes straight off sheet. balance cash today, on And anticipate year XX free XXXX. flow to discussed fiscal by the will As XX, March
Our we improve to X financial have position. quite most continue traded our well prompt as maturities
notes our the traded in next windows have XXXX, maturities to well available mid- we last in year. week market our to address XX XX, Our projected the sub-Xx XXs. high leverage should March to calendar the positioned over secured as by become be be With early debt
peak remains build our liquidity enter season we as businesses. butane and inventory strong for Our propane
had we million $XXX XX, on September with of liquidity borrowed the in $XXX ABL. As million
the seasons. associated as respective we the with and balance reduced ABL see capital will working We the the exit butane propane businesses
Liquids butane market. for $XX.X quarter is competed of discounted demand season $XX.X the the and in against product fiscal as started quarter off purchased second differentials our to the XXXX. blending Butane been the fiscal product start million strong season as of Logistics strong. and have our for EBITDA quarter million to versus versus year, a expectations impacted adjusted a internal was prior were the at purchase second negatively In beginning the margins locational lower the we by contracted in we
well benefited the balance business has the issues been in Our from we year as were The operate. experienced regions to supply restored. last supply-demand and have of continues perform as resolved some margins higher year refined this supply we normalized contracts new have and products we customer
second retailers, normal lower the is during by inventories months. propane, the impacted for driving first the just demand last the summer than volumes normal as from started, higher winter left and demand quarter year were warmer season heating less fiscal As getting for than
margins fixed of profitable a all We in propane in months, up in liquids our sales the us business. are winter allowed the quarter sets to in carry and fourth has have which nice seeing market, third the price strong which lock to through
was fiscal of 'XX. in EBITDA in million second quarter $XX.X of Logistics Crude the EBITDA adjusted adjusted million versus second quarter the $XX.X
prices in to prices. rates the lower During year certain the Mesa barrels XX,XXX in contracted year. due compared in oil rates quarter producers the were quarter, crude also prior XX,XXX per when compared averaged crude day resulted fiscal prior Grand the day the with to higher barrels per contracted volumes quarter higher second of The to lower oil
the contract on quarter sales certain to quarter 'XX. lower in contracts same addition, we the differentials realized in fiscal In compared
in we future. and As Mesa my an in I near anticipate on earlier the in improvement the comments, on Grand basin remain volumes mentioned constructive
of Water which achieved increase the adjusted compared day year. produced in approximately X.XX XXXX. $XXX.X equates a volume The approximately prior quarter, million handled water to quarter EBITDA X.X% fiscal from the million, same of in XX% the barrels per growth team to
had During quarterly our items impacted results. that the quarter, we positively X
of contract and of between Pinedale assets fair First, based value. the we sold on the owner the certain Basin. the portion transaction the of the in assets disposal sale termination disposal and intangible the assets A was saltwater relative allocated
disposal water which million impact was EBITDA total $X.X of favorable for the quarter. the a the Approximately to was termination of allocated adjusted to consideration contract, the
This recall in Eagle Second, pipeline and the approximately the Ford million. didn't from specs. volumes EBITDA adjusted previous in $X that positively the quarter, stored impacted was in skim Basin was quarter the meet we quarter second resolved and by issue oil sold oil the
optimize for Expenses the face continues for ways inflationary find the quarter with quarter. costs barrel industry-leading manage and to to $X.XX of pressures. system and in the the remained team The strong per
over call to will turn I the Mike. Now
