Thank you Heath.
X as the responses Slide all on to start environment we our we current find ourselves discuss Let's in.
safety We first home updating Our which took protect to proactive our work workplace and options always safe included employees. where priority health measures our protocols is the of will from possible. be and team offering and
over continued to CDC across had of those work the cleaning our measures, rest undertook out members locations, we'll protect facilities For with continue that follow distancing date, no we as To in physical of enhanced accordance as emerge known the we've social year guidelines our guidelines. cases practices to team that well and to our best sanitation and people.
of support facilities and safety, with business remain continuity. are on increasing also to essential contact integrated chain them and country's includes internal This focus activated or to supply services. to actions ongoing We best obviously water protect feedstock taken municipal our to their supply taking understand ensure and changing we've needs in steps our reliable to of We a power amidst addition In electrical service how supply products. plants market uninterrupted critical carbon conditions. which for ensure our
we at Red allowed we our that to River plant ensure onsite broadly customers that experience we effort, event capabilities portion impacted have in may to could and product planned workforce. to operate workforce produce this our of we workforce our to case were an which in a part sooner provide As our that inventory our manufacturing continue to of sequester Louisiana, than
as bolstered QX, series far as re-evaluating well plans. we by by late in and through allocation finally, spending financial And in made capital our all QX. actions began non-core our of a evaluating flexibility We thus both short-term
effort spending. restricted an we in First, costs, and contain nonessential travel all corporate to
reduced Board's and structure pay certain executive retainer withheld cash the bonuses. our also component of We
of terms we allocation reprioritized an business. in the initiatives capital Next, de-risk in effort to
and top to remain we debt eliminating than its committed reduction priority, less a year three remains our in Debt term. stated
to of opportunities continue to against ensure reduce invest need available could we if the assets capacity that Additionally, successful. plant manufacturing handful carbon at our and activated capabilities to we're a prudently execute in
we dollars and across quarterly This allocate to we we pandemic economy that uncertainty the was just dividend not serve, of broader given the one However, lightly. difficult need the many has decision in our caused share to suspend but evaluate took a the and end any markets not we repurchases. COVID-XX may
capital visibility flexibility ordinances navigate lifted we liquidity need protect allocation as We a have economy offer our back the in will shelter-in-place continue plans evaluate to we coming will more in near-term help into the to These these are begins on turn actions months. and how the our uncertain to times.
to review. X Let's now financial Slide for our turn
XX.X of same equity quarter result reduction in The depreciation payments decrease Tinuum to method equity with decreased earnings third and Tinuum equity method higher resulting from estimated RC and earnings Group investments was Tinuum in compared million, in quarter during leases as period. due net from facility the X.X coal earnings largest a of lives restructuring quarter their the a that all primarily million the XXXX First during first to due customer, refined first which to were facilities investments beginning from XXXX. useful lease earnings quarter on of from its lower for Group,
less point the earnings XXXX I refined to This transactions in coal addition time due gap facility impacts recognized just our in discussed. two expect than to year, that be will as significantly equity XXXX Tinuum sales having we during
RC GAAP significantly equity in or total As not flows distributions to does affect method our XXXX. see earnings investments segment our we cash both and projected from discussed, this we future have cash from the expect exceed timing and the also XXXX previously
with by totaled incremental power other decreases the decrease coal XX.X in generation. million XXXX. impacted revenues consumables sources of in XX.X First negatively resulting power quarter coal. low were revenue lower in by by lower primarily generation fired that first industries of was driven revenues from fired The dispatch were than result power quarter volumes million, the by coal impacted not from partially offset wins These compared
Group first income impacts from the ton margin, the First quarter pre-tax were royalty a in upon changes related in to The inclusive of Royalty payments X million be depreciation X.X lower XXXX expected expense and compared XXXX. Royalty and to of Tinuum lower million, quarter applicable impacted percentage per XXXX. based depreciation increased due of for earnings the to quarter the expenses. these to to to royalty earnings are due both first other Tinuum. were earnings and negatively is
million EBITDA from decrease equity XXXX. Net changes loss quarter, for decrease to was investments investments method compared driven by and adjusted operating of primarily for in operating carbon business. primarily compared net the XX and income was was consolidated equity in the million EBITDA driven was XX.X million, the in from in Consolidated net carbon a The related X.X in again activated business. first method losses in earnings to XX.X in lower to quarter from The by the million adjusted losses changes million first earnings XX.X lower activated XXXX. profit
million the of first of restricted to restrictions the remains of since X.X restricted ended The inclusive due balance cash increase with the in quarter a of end the XX.X X cash from million loan. term long-term cash year. million, an We
we quarter the end million the balance of made the XX principal reducing the During payment million as term the our quarter. principal on including a current of $X portion to loan,
off compared of million, We at year-end. expect inclusive of this to million sit less finance stated to Total to a in leases long-term than at XX continue three years. pay now balance borrowings term XX
Turning see our X, can to flows. Slide future you cash RC expected
$XXX tax million XX our to Heath based $XXX to previously mentioned, of during between cash the updating ADES of expectation the As to we're after million the facilities and XXXX. received end invested be flows on quarter, and cash distributions
of We we sight believe to incremental adding have XXXX. also line in that volume
However, have negatively the indirect of related direct to impacted timing this and incremental impacts COVID volume.
with remaining efficiently our Tinuum, Since produce ensuring their look assets coal. we'll while its that reliably structure cost to refined under years we business two coal refined manage have
cost them reductions reduction on continue We our accordingly at the $X initiatives provided cost the basis any and previously from and while target manufacturing reduce to costs seek on to least fourth processes. containment work see in annualized separate will These initiatives our products related call we respond of as were towards quarter pandemic. million discussed so and an optimizing to
the maximize we X, Slide assets. opportunities to we potential carbon Turning what us our as for activated of the of outlined to key see some
not market which accelerate but coal-fired than As on to generation power focus opportunities forced expected, velocity, decline, or at planned. earlier us continues to has this other adjacent
about our are products. for similarly talked the ahead our activated expectations. of these non-coal the where be These regulations with seen industrial initial have carbon in of traction of markets industries we We some by that bound avocations have to products and our continues are application
We better ourselves within are water finding to also market. the able compete municipal
Our product and we did see commercial in Solutions XXXX than from improved Carbon acquisition portfolio is year. water the and the here we expect strategy time market in of higher much last to the performance
a and be M&A. rationalize key the for ultimately expected industry We coming into demand new growth which rationalization restructurings we may as years, catalyst market the in also supply will include expand That markets. expect in and to
be on advantageous we the we given premier capitalize cost occurs, nature this assets to the As market. position the believe and of possess the in in opportunities quality will
X projections Slide changing power the from the shows U.S. in fired coal
As in coal the we the fire fourth expectations. power you speed see can the call discussed the and of quarter magnitude change generation in
fired increase occurred changes it away opportunities has obtaining coal in caused our these us incremental focus generation. to As from have power
we power As is slide right figure generation. coal products on our the diversify side fired around hand intend internal such how estimates the of to away our the from
the product year. of If this that capabilities have us would we successful negotiations the last have As greatly to the leverage with built that larger opportunities over this for we some in would cost rates of new part nature these current we're leverage closing pipeline parties allow low and the ongoing of maintained focus immunization diversify plan. asset, the our customer base, volume increase in more levels the the and fully and
will current cost market Additionally as to our adapt overall dynamics. cash from changing we is align and business the
Since On in allocation recap successes start to have the we this repurchases. $XXX Slide over capital quarters. X of and dividends our over via initiative the we million approach returned shareholders last XX XXXX share
debt economic well to activity. repurchase have cash on of This per current share including $X $X the in to uncertain term loan million. will our improved suspension dividend economic which given flexibility situation. remain near we believe the the taken million of priority is overall financial our payments prudent as In the take given near-term We term principal a action uncertainty us will to quarter to pause quarterly quarterly as initiatives However, we capital our today's reevaluated subject as mandatory reduction enable evolve. preserve steps is the allocation as market conditions allow
in Finally of Slide our least in crisis. of keeping these at XX, current changed priorities let's XXXX that mind have on temporarily light review some the
protect priority cash unchanged our to cold is is Our and first refined continue net it add flows. and to
We flow operational will such our cash reducing allocation. support and costs our focus on long-term future optimizing our our we stream performance will continue to maximize which capital that
as filling look plants cash as plants and Red cost low River reducing in the unchanged entail advantages. and vigilant incremental opportunities market we utilization additional opportunities capacity This about, also as priority market to wins as we with new the well any these remaining key as remains for will rationalization upon second expected costs. growing our volume Our spoke well leverage
risk near-term preservation. focus Lastly to our we capital shifted mitigation and cash allocation
of component preserve our to shareholder near-term continue are capital the deleverage on but return in will order pause to initiatives We ultimately allocation liquidity.
for was CEO. compliant in a than to cap filings path Heath six middle terms in questions our the dividends strategic our shareholders leadership of lead the financially side, His a capital dedication late and and important was company to stable to when the his got ago as what Before has its through on testament that on financial we months true success he Heath of CFO I that was repurchases I direction. began return and market as more roughly Within its its take A period. time thank years time we leadership and the brought organization allocation is provided and seven turnaround lost asked company our organization. it's as forward. to at any this that think Heath the vision
provide invested the of significant steps Additionally to expansion refined taken a were coal forward including facilities. path
refined these generation XXXX. fired Our potential coal under while value navigate will to provide path pressure our of generation uncertain the provide due times. cash carbon power some end activated us on coal assets to will the flow longer-term And platform and assets to
to our and you've team at us Heath and you for partners, So you whole on ADES, and investors we'll our With a been organization. your our here for your friendship. everything importantly for honor take of true I'd behalf to It's work done this like questions. that customers, most thank with