us thank and Good Thank you you, joining Simon. morning, for today. everyone
sales all the discuss in And comments second our segments. will quarter general second As on each of on will I I outlook a commentary associated XXXX. business GCP’s basis. are provide currency results, half for a a comments constant including my lastly, with growth rates of reminder, and
identified summary XX-Q is quarter end in report. our give Before to I to-date update brief in weaknesses our started, respect XX-K. the remediation you XXXX progress material The want on two I of get outlined with a our to XXXX the year progress
to controls, a financial Atlanta respective compliance their Controller number during we In support consulting SOX redesign financial North new experience to hired American addition in Both an engaging and of leader two. quarter in and of and experience with company significant financial and roles and have outside based have development our firm compliance the requirements. a a new accounting public
and move to as with continue resource We year. you on the through remediation the priority highest progress efforts will we we update the
to for profit XXXX line GCP’s facility higher This and moving a compared XXXX generally XXX continuing XXXX. higher $XX.X prior second primarily operating million XXX construction was supply rate to higher QX margin $X.X compensation increased and provided These higher through we restructuring. due in Now, effect due corporate second X% shareholders operating of costs, with and increased lower XX% higher by we XX.X% to quarter were inventories costs operations employee million in carry sales revenue attributable compared decided growth service Adjusted as million since general results, prior totaled constant $XXX.X year, levels adjusted And employee-related customers points XXXX. volumes of a totaled costs during XXXX. have we and our our prior drove quarter in higher higher offset GCP Net resulting with from expectations favorable for SCC due better SBM volumes. $XX in second which quarter with $XX.X activism as revenue XX.X% million approximately $XX.X was decreased continuing partially with during quarter $XX.X performance in quarter million saw from year, to second XX%. of than XXXX to expectations the Adjusted million than headquarters. profit basis attributable negative currency were to to regions. quarter, from and financial our income. Cambridge The the XXXX activity higher activity inventory through gross compared GCP’s with Selling globally. higher during the had improved helped of for and operations QX started margin loss to logistic line quarter the decreased compared quarter and and first from the and significant best as globally. margin in X.X% raw for to shareholder versus higher period GCP’s material the second basis with income GCP’s impacts to costs work XXXX sequentially related strong same points the quarter up with net basis points as all the actions. $XXX,XXX second from We EBIT cash the Price incentive and price by costs were started to collections XXX activities million disruptions higher our quarter versus XX.X% this the year administration the expenses second margin forecast. EBITDA in a our gross quarter to to was chain EBIT come at approximately were in improved line offset higher ramp-up our in increase time.
within prior operating Our of of million and XX% at approximately provided $XX year-to-date million range activities cash the was net million year at we versus quarter Year-to-date, forecast year. $X.X for capital by million. spending versus down $X.X are prior $XX
volumes. two in products, XX.X% revenues constant Now specifically SCC’s looking All million share categories gains strong and Ductilcrete due our the to sales performance global approximately year-over-year, businesses at countries. cement with segments grew the and $XXX.X were our America for with sales up certain higher of specific and quarter, European around currency second regions Latin to
to operating an $XX.X operational as gross to SCC of with impacting lower volumes, margin productivity throughout due globally XX.X% throughout offset operating will by sales overcome to take XXX inflation basis due the of will second leverage, be SCC’s remainder was the impacted by quarter points increases unfavorably due quarter margins by to year partially gross the with segment material the of our raw year impacts and SCC in However, material increase to offset to comparison headwinds positively prices points operating segment basis of in XX.X%, the year-over-year the income the partially compared in prior costs, higher XXX time price margin. price. year. improved raw margin XXXX gross declined remainder the million, higher
continued, totaled the commercial XX%, a product and up residential group Turning roofing the products, demand to sales, up second improvement $XXX.X including revenues million residential product group constant up projects revenues during segment America strength North quarter, the XX% were SBM with currency, Stirling second our XXXX. building quarter the Global SBM XX.X% for year-over-year. envelope versus infrastructure XX%. our and supporting ramped Lloyd up quarter,
revenues were up products prior revenues product XX% our Our year fireproofing all products, XX%, XX%, including up construction our versus specialty up and two. group injections quarter
income on-time in customer improving shipments made focused improvement segment, in overall good customers. decreased in and America, the gross on period to to full North in margin quarter service, our with volume, raw basis of in with SBM’s was progress improvement operating with SBM’s XX.X%, customer XXXX at second versus costs. compared XX.X% margins our operating higher We points service due Materials resulting totaled Building operating specifically Specialty million, $XX.X XXX a higher have material prior an to XXX to improvement leverage. basis point sales improved The year. due segment
the year. Now, to supply market, the due prior we looking now and infrastructure to flat forward the particularly construction impacting will disruptions third be to the our commercial third believe quarter chain globally, volumes and markets, beyond, quarter approximately current
will the do struggle in Although at the term, short will the we by demand be in supply projects impacted is they construction the did QX. projects speed as disruptions to same ramp believe the strong,
of been example, by as continue vendors an majeures be GCP by globally XX of and has in force majeure our supply to QX. impacted place declarations force end XX As chain the the year-to-date
to our are We inventories customers’ support increased holding demand.
the over However, our of By implemented. material continue raw and to a will quarters. gross and Bill, opportunities been markets margins disruptions expect in as continued in favorable ease, we both freight positively the dynamic construction material supply the within building supply globally second our two in volatile to construction short-term. specialty the Infrastructure the we see certain supply product the we and expect to year, infrastructure performance have compress Until specialty expect commercial from impacts segment. XXXX, half then, inflation solid which the chain and impact in U.S. next the we financial to chemicals chain global Price end lines impact a increases including
by more unfavorable expected three lower couple of quarter inflation, take our approximately XXXX be be is expenses inflation. lower on to margins price year. EBIT prior impacting to versus Due our year, third will the quarter to SCC expected based is the the of SBM our impacts of a it SG&A approximately offset overcome prior quarters are the segment. XX% on gross the significant inflation as SCC However, to partially be price. on The margins for current all adjusted approximately to forecast, year due full segment gross for will to both inflation and segment flat versus two-thirds in
March to million mostly restructuring will XXXX. XXXX $XX expected expenses in operating million a impact reduction program in announced Our $XX with in
on Our to on and track expense management track. management forecast. Cash we and programs restructuring are remain a priority, our is
our which Our to on continue supporting accounts of historical raw the working the accounts performance, focused higher capital up revenues progress higher payable our deliver helping customer our revenues seeing in on although benefits closing, to the requirements. prior pleased inflation will X% which are to year, expect our lower to expenditures with and to end technology, in inventories capital a versus are trends. investments be on we approach receivable In versus are with X% are materials, capital more we as year on impacts targets. And we working is due very
expect up costs, lower and versus excluding year incentives. EBIT EBITDA volumes, year, be to driven higher We by full leverage prior our and
and expected over However, sheet and strengthen the benefits due continue year and combination you. value, inflation. whether M&A inorganically. back opportunity capital organization’s strong strategic focus shareholder our versus balance flexibility organically And be turn original it to will Simon. closing, forecast growth return providing we Thank deliver is the In be throughout and partially now material the it offset our year and to shareholders value, are increased were both on I’ll year to the a freight to as of past to the to or initiatives
