Good a second for per or last million On loss diluted GAAP everyone. during made position or market XXXX million diluted Tim. the net challenging $X.X to morning Thanks conditions profitability. to share compared loss $X.XX our strides income share of the was a per quarter $X.XX net of improved basis, quarter significant Despite we the year. $X.X business quarter second in
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million quarter, $XX.X second in Adjusted our guidance previously the EBITDA above communicated was range. dollars
expect benefit costs material as prior lower an end we combined approximate remain raw from with LIFO inventory the million year Second quarter adjusted EBITDA includes to below levels, $XX quantities. year
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be lower Overall, markets in shipments. second XX,XXX we expect tons our across quarter third to approximately end quarter shipments
each at quarter the end mobile year. our Looking quarter X% of shipments similar were to second our in second quarter first last markets, and below
projected North vehicle than last is light million American XXXX, production units XX.X of year. roughly For the X% lower
exceeded months. last However, XX four units the three in of million annualized sales have
as gaining our from SUV and share and With mobile your well expanding capabilities. compact continuing on our value products have to as shift remains focus in trucks, the added relatively our core demand cars consistent
where mobile from quarter be third seasonal automotive impacts to the last similar expect We year shipments shutdowns. quarter to third
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improving Industrial distributors, and to first continued quarter, distribution shipments tube levels delaying decreased demand backfill inventory market Bar but compared is XX% inventory are primarily by and orders. driven light the distribution at managements.
inventory distributors expect improvements. remain show cautious their shipments relative We to calculated levels to until
but realized the market. general we more softness and rail industrial gains than share by in industrial, gains have Within in offset been government, these
to managing and includes to align we as hourly controlling employee closely such manufacturing consumables. This shipments the be Looking XXXX. to without It expect goes to the manufacturing third variable second quarter maintenance labor, with demand. costs saying costs prudently we're ahead quarter, industrial similar that
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proactively improvement discussed, growing being we As launched resources profitability projects targeted aggressively early XXXX savings, and implemented markets. focus in realizing efficiency, improving on previously cost manufacturing that with plan the reallocating in
million XXXX. the to annualized $XX to in in progress and $XX realized million target we're positive given total noted, profitability Tim be approximate improvement momentum date, As the to with raising approximately by million $XX
the describes previously perspective, to in $X.X the From slide Included profitability we is earnings the spend improvement presentation, of will components complete that further cost a supplementary a activity cash the target. discussed. million restructuring
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we plan impacted is well retirees The As successfully transitioned new amended on a and second in with call quarter enhanced quarter's during plan to union savings. exchange. individual Medicare our eligible realizing an their Medicare discussed benefits the transition retirees to health conference postretirement benefit to last plan change progressing by care
in benefit perspective, benefit and $XX million The million million. benefit From in approximately statement $X reduction XXXX in by postretirement approximately liability income in approximately reduction postretirement a balance our future in of a is sheet $X years. change resulted a expense this
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recorded result a company the was $X.X adjusted of quarter planned loss XXXX This from reporting EBITDA. excluded required this measurements. of during non-GAAP million As from non-cash our loss amendment, a second the the
providing improvement. million target quarters $XX achieving approximate future to look profitability updates in regarding I and the forward further towards progress our
net Adjusted Moving and $XX million positive income XXXX. operating to were the on cash were flow quarter. contributed quarter. activities working quarter flow. Cash cash second our the second expenditures million provided operating for by $X improvement in the in Capital of in capital
XXXX spending St. Clair expansion to of We million. previously any guidance profitability expect and full Eaton with complete capital our XXXX the previous to the year be This consistent our substantially required target approximately includes Ohio improvement discussed. capital $XX plant’s in achieve
liquidity $X totaled of million available quarter XXXX, end since the June now. of as million improvement $XXX Our first an XXth the of
Now production XXXX turning outlook, in third levels roughly a expect below demand now maintenance half XX% second quarter or have negative plant third cost on in production be we quarter. XX% of second level to the third profitability our approximately utilization fixed quarter. Aligning lower are XXXX. $X of of the result This second utilization leverage shipments quarter in with million approximately in quarter XX% annual they will during the a the combined to production our impact and planned decline from with
projected these $X benefit a costs, LIFO of offsetting Partially is million. approximately
believe in an quarter shareholder focus the clear drive encouraged we're market or position challenges, a this the we improving current significant with the As a negative be range by progress the structure. market despite to million. quarter third demand, forecasting end the positive EBITDA $X million wrap $X To during the the to end in combined recovery will value. third cost result, company up, second with in of quarter in market When
up like for to call open the we now Christina, questions.
