everyone. Thank you, morning Good Michael.
our our capital last the also on and over in details I’ll additional on cash I’ll generation financial half I’ll some color the review First additional provide first year. our guidance. and some quarter of revised performance the structure provide and
quarter million first XX about over for million from million XXX XX% first about mentioned almost each in up first year. quarter the were Michael the period statement of On XXX the XX% periods. from Revenues the second respectively. half were for X, for the second the of the Adjusted million As was income and key you’ll and XXX of metrics of year quarter Slide and see some comparable strong. quarter second their up very and half year in about year XX% respectively prior each EBITDA prior the half
the basis points quarter XXX prior points Second margins year when XXX of first compared adjusted basis and half year. compared prior the EBITDA increased the quarter to to
XXX Michael sales the of resulting Performance quarter. a in margin were of segment had increase EBITDA XX% segment up and in quarter XX% almost XX% And XX%. drove increase sales job over of adjusted segment points the over was EBITDA Net outstanding the the As looking segment year half, from basis EBITDA discussed, Chemicals a adjusted adjusted segment ago. another in an segment a at up and
As a Pine last are result, year. margin first EBITDA Clearly, from from up of the acquisition. benefiting half XXX we Georgia-Pacific points Chemicals was the basis adjusted segment
this of half sales is Materials XX% XX.X%. team job XX% had XX%. of has increase for continued represents In versus for all-time dynamics high the almost of many increased positive reduced year sales applications, second This net we at have an looking the basis quarter EBITDA and and addition, points. segment EBITDA were XX.X%, benefits was almost the see points, done up margin the impressive our Performance remarkable environment structure increase of in was improved cost over in XXX and up and margin our Performance into the of adjusted almost a adjusted Also up in an industry adjusted half basis as X%, EBITDA the EBITDA to the Segment ago an were leveraging Chemicals XXX an segment results. quarter segment. resulting
ramped running our are Given high it's our that have these acknowledge low particular plants numbers, impressive our margin They carbon clear really efficiency. in have like to globally. with operations strong well teams. we and production activated performed efforts the as I'd of
we XXXX, of interest the of end were expense loan quarter the recorded For term second cost on In of borrowing X.XX%. the quarter $X.X at million. our
attributable U.S. for in and XX.X% The share XXX earnings and XXXX. non-GAAP income for to year XX.X% translated XX% full quarter tax of increase was for adjusted I'd tax quarterly a per of was comparing per in from to $XX.X basis rig a comparison, Ingevity of the clarification will to year-over-year a note the solutions, provision XX% year-to-date. taxes as tax rate and EPS first Net Our sales. diluted on well $X.XX increase income the million. due the This diluted to XXXX share of we million that a the XX.X%. $X.XX. rate full as represents This quarter joint of diluted half adjusted earnings points adjusted $XX rate XX.X% venture was GAAP year-to-date in reflecting and approximately consolidation increase our
As diluted shares $XX.X basic Ingevity XX, million had outstanding million June of $XX.X outstanding. and shares
past with of XX the offset remains at weighted employee consistent to months, of dilution, repurchase our three average million share of XX,XXX commitment available to a common current share our purchased us. our we stock Over $XX.XX. Approximately, authorization cost stockholder per shares
XX. Turning on sheet balance to our Slide
in million quarter of the was $XX additional including for million IDB lease an we $XXX of debt capital million million and IDB. Total related $XX account obligation. our cash with Wickliffe finished June the restricted As obligation the Wickliffe of cash to amount $XX XX, our
for have our times XX, our $XXX ratio June credit use. available our and leverage revolving of facility was As of million net we X.X
our has This significant and newly have we a in discussed, increase inventory adoption well are season our ramps up X we with to facility prepared paving the an quarter and the up, acquired our is Standards. the accelerated Arkansas as capital. of for inclusion increase building working build as that China coupled As Crossett, receivables in of as customary led second
by inventory our on focused of controlling we build working While as managing an carbon view activated materials. this capital and remain we investment, all
We in and are across finished progress all company. the
to from As cash will both management an be as the $XX build more China million X reverse implemented, normalized is capital generated We we the by levels. working of impressive strong segments. return inventory operations benefited year-to-date there focus of to aggressive and performance
year-to-date million. Our capital expenditures were $XX
timing As half cash of spending a $XX waited back planned the is outages. Free towards to reminder, major year-to-date our capital flow of the due was million. year the
which file X, XXXX. available we to August next be week in will information Additional on our Form XX-Q, expect
both Turning to of to XX, Slide opportunities said Michael and earlier, have we as improved line sight our as XXXX risk. outlook
year. we growth Chemicals anticipate year's Over compared expect strong when last to strong quarters, we next oilfield both half versus globally. Performance what periods. saw although markets remain we to season Performance Chemicals, margin the the expect the continued In a sales our the of segments in comparable revenue we Material two finish and moderating first in anticipate paving to We growth and
applications. our dynamics said industrial specialties industry in remains Michael earlier, favorable As the
benefiting Performance due plant lack tailwinds, chain half synergies CTO both and our a previously supply mandated territory expect XXXX Materials are Canada cost we we communicated, accelerated efficiencies. Georgia-Pacific to the acquisition second from step-up and from of In vehicles. in U.S. regulatory model-year Additionally, for of slowing initiatives, growth as the reduction
U.S. to XX% Regulatory next demand Europe of and due step-up in increased We of requirements increased vehicles. year to expect the market next be model-year the for this followed demand XXXX in by beginning to
of included anticipate be cities already we revised guidance. early regions, in this Several some these outages in of Both with substantial. come back has maintenance fairly some have half X segments outages discussed, which discussed of certain our benefit, in lower at These Michael will which as should impacted and addition year. In facilities, occurred previously are associated absorption, maintenance fourth-quarter our the cost China the provinces, by of and fixed adoption downtime, many Standards plant and been spending. increased
paving year we most year of likely will the season experience third symmetrical and in profitability fourth. being you first total, seasonal lower similar the pressures, quarter. and of the in total are the segments. growth inflationary are expect the In quarters the first second well as slowdowns double-digit as year aware the well of probably sales modest fourth as impacts We that which EBITDA results normal with production end as When our fairly in in and the half both our thinking and in about second including
if For XXXX chemicals what pine the look from second and Slide light our this, billion for first lot revenue half the months to to We're in turn the of be will six Last maintaining all are third acquisition. our the contribution related billion. how guidance a see we’ll half $X.XX of of in a this full maintenance year guidance. XX, like is fourth Georgia-Pacific’s you expenses XX will adjusting $X.X million and quarters. the outages of about In here we between adjusting
the midpoint and as to million in reflecting million segment. mix XXX guidance our as the both improved well of XXX on We better Performance are profitability segments raising adjusted narrowing in between range EBITDA the Chemicals
million expect to debt rate Purification estimated in the the Cellutions remaining still acquisition cash and outlook reflect We're raising what interest now our Inclusive maintaining net turn capital to regarding our tax Michael. but the was free XX% our to our the I discussed. maintaining EBITDA XX to will we year XX million. and million previously below to XXX of million outlook of We’re to between expenditures flow our ratio over of at finish with two call XXX a XX% between times.
