you Ingevity. morning, Thanks, everyone. Dan this in interest Thank We appreciate for your us good joining and morning.
for with in highlights third $XXX a compared the quarter. of note previous revenues to performance X, the Overall, face million, we turn expectations. number Slide the If challenging approximately line quarter. macroeconomic our you’ll the year’s were some to up quarter XX% when you’ll delivered third quarter in headwinds, In strong
the was had this, Offsetting segment the business revenue broadly of benefit additional Chemicals slowdown. Engineered line the impacted Holding from and our by the Performance formed caprolactone global acquisition of industrial AB. Our Capa we Polymers product of Perstorp through acquired earnings
in China growth Performance At strong products, standards. in accelerating the segment’s automakers orders compliance in with increased national we change our as Materials same time, saw significantly automotive very of China a step shipments regulatory by X
With in respect realized increase from points of XX% XX% previous or we were basis drop $XXX increase in to year. Adjusted the adjusted a third for prior quarter. an And up EBITDA quarter, consecutive EBITDA year’s more versus $XX the strong earnings, posted achieved we revenues. the EBITDA as through million, XXX up on XX% adjusted million we margin
last the net brought year’s outstanding reduced of net leverage adjusted we flow of versus million, up free EBITDA X.X expenses, to IP debt down $XX cash costs, quarter. quarter, for and SG&A And X.X%. Our times. to generated down our XX% were litigation This our
see Slide to quarter will for turn you you Chemicals. Performance the third X, results If number
XX%. segment had Engineered the basis, addition of On owned in were includes assumes in of up sales versus in pro Europe areas As a mentioned, prior impacted and million, Asia. XXXX, X% $XXX in for we business products. quarter especially which full sales the by and negatively This in quarter Polymer segment Polymers the both Engineered the weak conditions, year most the period. sales the the market Performance down Chemicals were were forma Segment XXXX
second $XX chemicals, we On more, affected inks, alternate million, agricultural sales the Sales for an walk secular on include priced decision this some down about to top results demand printing our based half materials, in the these of lubricants others, area made printing and in or industrial specialties What’s adhesives, XX%. in inks, of reflect of applications decline were into ongoing and by away the XXXX particularly oversupply gum from printing were margins. business low Chinese sub-optimal rosin. ink Europe in
year. Chemicals were versus oilfield Sales customers Performance XX% of to products down the prior
end count sharper was be While versus business second down at the XX% to quarter quarter. our at the According this a North would the down half, drilling was of end we anticipated. and American the second Baker in quarter third the U.S. production reduction second outlook rig the anticipated in of than saw Hughes, the
Sales America, up applications solid XXXX. months North the X% X.X% up up in in first were to third X% by the nine growth of versus driven payment and year-to-date quarter-over-quarter quarter,
We Evotherm up strong are for sales asphalt continue to and adoption see XX% improvement for year-to-date. price Evotherm our technology. warm-mix the
several countries conditions. has economic of However, by in infrastructure curtailed as this was sales strong performance been in lower offset spending light export
Chemicals competition. had our In I due said, driver the These from softer prior though the reduction in was XX% The Polymers line. the were monomer revenue the below pro of to significant most the cells year’s additional in Performance benefit demand and period. results we Europe segment, product as increased Engineered forma
after with a due transition million distribution business were XX% is temporary adjusting forma quarter In coinciding of $X.X negatively and impact, Still, year quarter. for basis, impacted with addition, sales the a termination This prior sales pro in the period. to this in from the the were approximately Perstorp. agreement with warehousing the inventory Engineered second by on consistent performance one-time down Polymer approximately a
remained has Asia. demand and derivatives demand Europe speaking, in American that stronger is North outpacing while monomers, than for Relatively
holding side, demand. the the up the in of margins weaker remain face and On positive strong are
segment increases segment EBITDA slightly but EBITDA, costs. by pro benefited and were Chemicals volumes, a Performance price On XX%. $XX million, mix, were as were partially X%. production down reported, Segment from up in forma EBITDA higher offset basis,
a XX%. is points our still XXXX. adjusted achieved accretion, the on that post margins of As expectation EBITDA EBITDA for the adjusted we’ve in full margin segment XX% than basis more year margin of significant we It continue to will approximately improvement to XXX focus
Performance on to you once record versus quarter. Slide outstanding moved in as mandates. of performance. China with year’s up implementation see delivered Segment Materials, X, automakers previously dramatically the the $XXX sales a prior were again million, in Sales can quarter continued ahead announced segment XX% the early regulatory scheduled as second number accelerate Turning to
standard for for the you EPA those emission China canisters to As equivalent regulatory know, calls X. U.S. Tier X evaporative
current August, or quarter. The production XX%, China substantial vehicles auto versus light versus was rate business. light-duty the that were the of down roughly in vehicle to estimation, X.X for approximately the despite this about occurred Through third drivers automakers down increase speaking our China, production the an importance regulatory sales in million year. prior in compliance was at XX% In vehicle China’s demand
end We expect the the this year. rate by be XX% of more than to
patented products We to of sales Tier in LEV rate at down model Ingevity’s production. this in the of China, and for gasoline industry situation North decrease occurred see the And X.X% light to a continuing U.S. increase similar and production are American strong III the vehicle year. compliance estimate or solutions, mandated that We was the sales Canada. vehicle the honeycomb emission is September. U.S. vapor X our scrubber particular in despite through XXXX XX% above
prior vehicle industry the an standard $XX the in in light in implements the In the or EU sales XX% the $XX the increase Union Materials Lastly, as Euro million Xd up X.X% in Performance versus down despite saw were the European sales segment year’s EBITDA through EBITDA. we quarter, were August. quarter, that segment million,
in gains consumption As scale-up. the increases and discussed, partially segment. of along by were inventory we impressive saw solid mix offset the cost associated volume with price These higher China plant with Zhuhai, the
higher largely cost inventory. We exhausted have now this
resulted spending in property. several experienced in legal year-over-year. costs facilities basis impacted plant margins higher roughly maintenance incurred points. related In alone segment our which and $X.X planned legal these at protecting expenses approximately addition, $X million Combined, by were million, Incremental intellectual EBITDA associated XXX to incremental costs we higher with outages items
XX.X% prior As in third margins reported, versus EBITDA XX.X% segment quarter the year were in period. the
in specific to margins annual this evaluate schedules, important on both to quarterly an it’s outage ours lumpiness other Further, the to expectation in slightly for a than margins our performance from basis XXXX, reminder, a for segment accreting the segment in quarter-to-quarter might be with and further quarter. accretion that it will full issues as due XXXX. versus the customers, XXXX potential remains our Just deliver that and rather in arising year
litigation With defense legal roughly respect costs anticipate property, been our the year has full of now $XX intellectual to in million. we of higher
that our actions effective the the the are unfortunate, position. strong are is our believe marketplace. respected level that desired being it legal in merits and our we importantly, maintaining patent of While having is is, cases of market that spend effect, are protected The proven in patents our
that that standards will we’re that and Performance continue various will this the to regulatory enable believe these demands. shift leading-edge What’s inevitable continue fuel our future. growth the countries Materials us meet Looking this in well long-term into expertise to more, technological at segment, by application confident stringent in to segment we more regions regulatory providing solutions
capital, company both call the This and turning the this employees margin to backdrop, facing accretion, core it important on balance difficult of that improved control. we companies, for like environment. across execute our makes compliment and working their Like our execution. before Simply delivered lower can more of cash of employees team outstanding even are proud team’s execution. I’m flow Finally, we other put, Against to many a segments SG&A, stronger what a sheet. we in over our John, macroeconomic I’d has team
I’ll financial Vice CFO detailed John this for to turn our and guidance and our status the John? Treasurer, review call XXXX. over Executive a Fortson, for at point, So more our President, of
