to and Brad, good everyone. you, Thank morning
incident first safety review was on X rate our half case X.X. Slide total Through the Let’s a of our fiscal year, of start our and performance.
a segment injury-free a of zero our history another During lowest achieve we rate is first It also mission forward key injury point step in this year-over-year. out and in the Carpenter worked achieved marks have during improvement our to noteworthy year. XX% to PEP the incident time, fiscal Technology’s the workplace. This that half
emphasize look to milestone. as to secure continue our safety key We next we initiatives
related safety especially Our the challenges are date COVID-XX. impressive to given results to
of I one an resonates customers open, and with operating remained a which and every is facilities achievement Importantly, commitment. has know our shows clear resiliency that our
of Now let’s quarter. review turn a Slide the to and X second
quarter second largely finished line expectations. results our Our in with
as on have challenging, actively Our conditions impacted well three the performance emphasis Despite reductions are was ongoing placed strategic market we consistent key priorities. by and business our being inventory headwinds. as continued managing
of First, our ensure the safety employees.
Second, drive cash flow our generation liquidity profile. and strengthen
$XX this flow. We generated almost have the of cash quarter Fiscal made flow. $XXX further free cash progress and second year-to-date, delivered we million in in against have initiative million free
have cash quarters, of and including $XXX generated last cash we look We near-term with the financial If quarter second three flow. million, million no $XXX obligations. of the free of you ended at $XXX total liquidity million
the on customers. focus our long-term Third, with relationships
takeaways forward. the to capacity build pandemic rates pandemic in such was multiple that Customers the remained return extended key constrained initial to end-use a to invested for as aerospace companies recently and materials the of present across normalized with where that customers. again markets. when the end-use evolving highly aerospace our extensions. agreements of the materials couple understand that We to Technology the There in unchanged prior we signs defense of aerospace key deepened we only that aerospace fully one were and handful long-term produce these is and namely produce one will fundamentals A market, going of that And relationships capacity, only great critical are world these have Carpenter the levels. across Athens prior limited from the contract with be of has have markets material this specialized our end-use we and is materials example customers strong recovery our a partner address of the facility. our and requirement supply successfully in
our working soft to will best are position position of hot significant and to leadership remarks. to shaping enhancement take many capabilities about Reading end, as our later emerging is also a we the electrification our position we markets. growing the The side in expands on be While of that mill To phase. in other to more on our capitalize leadership continue in stronger the business I now existing speak in our critical mill is strip core technologies. it magnetics to will to commissioning advance steps in leading end-use pandemic, that megatrend and the be our electrification our my capabilities
of move let’s update. end-use uncertainty slightly end-use year-over-year, changing the last were defense prevalent, we and aerospace sales X timing. market, down still quarter Now with the to needs for Many but up the Slide recovery trends market including forward are and material Starting seeing around were sequentially. where
vehicle a down transportation supply global but expect takes rebound market, sequentially medical due the and were end-use sales were market, the around our the and be year-over-year, In high-temperature strength performance resurgence end-use hospital choppy down X% to shape. capacity inventory levels as sequential concerns potential sales were to continue chain. third of as as solutions. manage submarket our the up, we light in quarter our to sequentially While the results weighed customers the In on recovery up
the market. moving Now energy to end-use
of earlier year. terms we comparison, Amega year-over-year In keep business fiscal in that mind the divested our this West
submarket, Within remain the in conditions challenging. and North America gas oil
turbine for cycle. power in replacement exist gas generation opportunities submarket, the applications For the
were industrial and market, consumer Lastly, for down sequentially. the year-over-year and sales end-use
for and demand to we control application. However, experience semiconductor continue strong fluid
up application In addition, across demand consumer was market areas. key all
the engineered driven materials. the stronger strong industry growth and industrial by XG is turn in Technology high-purity recovers. emerge the demand semiconductor demand expect outlook manufacturing market our to longer-term we continued in is Let’s support strong to Slide highly end-use global discuss market semiconductor how In and The cloud to and positioned smartphones X infrastructure. as for Carpenter our market, ultra
for XXXX. is the world’s capital XX% to equipment to the Since already applications, in chip fact, remain planning participation a with robust demand for maker support critical is Carpenter to in expected in evaluating almost ultra-clean by strong our future, semiconductor leader providing In space. are semiconductor request spending Technology increase materials constantly we largest contract foreseeable capital global boost the customer to this
fiscal we transportation the we of year continued expect these the strength second markets. move in As XXXX, in into half
and valve to materials Technology market, Carpenter already exhaust solutions and defense on build strong the will high-temperature supplies play delivery to emission passenger position a significant with solutions increasingly Strong vehicles. look low have as up vehicle specialty both These XX% at advanced across and we choppy commercial different powertrains to XX That’s been In U.S. rates. XX% met tighten. continue XXXX. inventory year-over-year. high-value and Our market sales engine specific demand as in are leadership as our we three end-use as remains top fuel our calendar in recovery. role at low continue and news In producers. aerospace as year heavy-duty has times forward global the and are supply, standards recovering customers in be levels truck of programs likely inventory delivering days below to remain down to demand rebounded The positive is projected the approximately market near-term,
customers levels to OEM demand. However, we confidently to if reorient expect demand a reset increasing higher
Of benefit virtually supplier a this across course, from recovery multiple Carpenter on aircraft Technology will as applications platforms. critical all
support out working customers appropriate them likewise, we, Our plans. for are the plan to with to continue map long-term, and
price I defense solutions. increases. As secure understand continue long-term mentioned during remain earlier, advanced robust key with These aerospace customers our support. even We we by return demand offering value contracts will downturn, submarket in to active substantial and beneficial very this our
As our a platform the step a accomplished a a key recently, example, in solutions. of performance material change of notable with help customer target
to continue aerospace Our programs solutions working defense to for designers on electrification are from be important and systems. next-generation will
Now applications supporting customers turning lift the segment, quarters as market. restocking elective is ahead incremental restrictions supplier our to more impact and that spurring medical demand will OEM are These continue both recovering surgery restocking been on device will non-elective our the to surgeries, market. efforts dental critical impact such end-user the have a the elective as end-use strongly industry on has well has over medical at provide as and actions bottom more coming to cardiology as distributors And role orthopedic as The market as medical to more aerospace. reinforced States of resilient. opposed line which been beginning recovers.
invest I earlier, to technology. continue we in critical As mentioned emerging
turbocharger designs capacity auxiliary vehicles. aerospace addition launch strong hot of the supporting enable lead to already time electrification transition aerospace and power mill products benefits provide to units generators, In an growing position engine the will new automotive-based to applications, for our strip and electric and and
activity to technology motor air we increases vehicle for electrifying program in and magnetic soft electric grow investment solutions. As our continues demand increasing short-range travel, our and are
are manufacturing platforms, capabilities realize we designs. powertrain the advanced future. to These this be accelerators could also investing performance in exciting related our least modeling full digital due say Specifically, and accelerated emerging technologies into in of customers growth to and and testing. developments motor moving the the and by earnings state-of-the-art are All ensure in additive and adoption pandemic. to benefits We’ve capabilities their part material where caused invested changes
Tim to turn will for over review. it I Now financial the