our Thank morning, call. you, Jean-Michel. Good thank everyone, for joining you and
first Slide adjusted to our to bridge. turn X EBITDA quarter review Let's
we with generating versus EBITDA, mentioned, guidance. Jean-Michel posted quarter, and a As solid $XXX our in quarter million fourth line in up million the $XX
of price we the $XX as in in decrease. our decreased the by mix rolled quarter. Our driven paper Americas. Volume and the announced also regions, million. reduced market the at all EBITDA than lower decreased margin accounted quarter. which by strong mix by better XXX and in energy basis Price $X stable was we Saillat fourth XX%, Paper million, fourth the prices In pulp surcharge prices Europe, for was points majority back
segment. channel addition In North and textbook in the continue America, in seasonal were printing be to program America commercial for Latin to beyond Volumes Europe first normal in slowdown impacted orders the quarter. corrections, the Brazilian delayed by particularly the government inventory
half to inventory in response of lack half America. in and and lower to of despite costs the taking exchange of order customers' our adjustment. million, improvements in lack incentive of Operations the foreign and cost Europe About improved taken other order downtime in Brazil. and accruals $XX about favorable The downtime tons compensation for was by annual occurred the XX,XXX North ops primarily due
transportation the and of on acquisition by a in EBITDA of year. planned $XX not reflecting lastly, We favorable at first variance. the added any Newland the $XX maintenance well million quarter, resulted in Input And mill we cost which $XX distribution our adjusted energy the and improved closed is beginning trends. conduct costs and million million, outages since very did favorable performing
Slide industry talk inventory and all about quarter, Let's in Europe move regions, in the X conditions. to the In America. freesheet shipments in resulting uncoated lower continued destocking North first significant and
quarter in corrections We expect in to inventory third the completed continue second the and quarter. be
adversely seasonally in impacted With annual segment accounts government uncoated This of the quarter freesheet respect one-third These quarter. a second was in is always the for was Demand quarter America. demand, the weakest Latin Brazilian orders textbook by the shift the about to program. first in demand. Brazil Education delay material started since also have
in The about returning there's to no in America, the inventories North office. of XX% most America over more segment freesheet the the cut few market demand with segment, quarters of the so size been as North need an to cut has uncoated see workers increase uncoated which last segment destock. has in freesheet increased didn't accounts size resilient for The
we to normal the quarter after capacity domestic to expected, anticipate supply shutdown. freesheet reopening the the of levels, imports Chinese more first levels announced has permanent uncoated imports return October. second freesheet by competitors As driven receded to We and quarter, last two uncoated economy. normal adequate In peaking the
down machine was was Europe, be a XXX,XXX down In shut America in will well. ton shut Carolina in Austria North down. in a shut as And North in North America,
We already on expect operating reductions XX,XXX these rates. tons than North impact incremental capacity secured basis. America, have annual more And to an we in favorably
Chinese and XXXX the increased COVID X into until steadily from half Slide and regions our October North and into exports the XXXX. China to look of Europe in lower imports America. peaking at supply Indonesian were domestic diverted to lockdown, go Let's due by first Driven in demand to of shortages
back that peaked to are normal America levels. have As we by Europe can we dropped in two-thirds in about the levels. imports from And normal would see chart, mentioned last expected to quarter, return more as and already and half North you had imports
second Slide discuss to XX, our Moving let's quarter outlook.
which million to $XXX million, million $XX in of $XXX mix an quarter. the maintenance $XX increase million, $XX to by reflecting We and adjusted reflects expense price expect We planned project realization decreased all outage a Keep as XX% this on mix. deliver million to in of EBITDA in well sales XXX,XXX mind and per product accounts quarter. regions price of as decreases our Europe tons that paper for average for in less pulp pulp favorable prior
volume to customers' to and needs. $XX unabsorbed million expect we due $XX We reflecting fit $XX stronger to million, operations million We by project as in $XX Latin to to to our match improve by America. increase million supply costs volume costs to continue seasonally
on for natural gas, $XX in improve and cost costs and favorable trends expect transportation. transportation million We input largely to to chemicals by $XX million,
Our including adjusted per outage to share about should of $X.XX be operating $X.XX earnings planned expense. about per higher share, $X
maintenance for the the annual outage X/X cost planned XX Slide total shows quarter, for the scheduled of schedule with second our quarter.
largely During all this expenses this planned will fourth in After quarter. conduct remaining regions. three quarter's in quarter, outage we'll occur the outages
XX, value. Slide about on which think drive our allocating how to I'm capital again shows shareowner allocation cash and framework we
our reinvesting generate grow emphasis we billion cash. gross $X are maintain much and on putting business our a about our to position stronger with shareholders to earnings greater cash financial in and As of returning we debt,
strengths to to our shareholders business. strong flow. by more our free a remain leverage increase generate drive we reinvesting cash position, high cash invested shareholder that And financial returning We capital story. maintaining use and to We and cash our returns in on cash flow value
eliminate to to with notes done X%, review notes reduce us on interest outstanding Slide and X% loan executing returns the allowed Let's $XXX March, repurchased by new interest limited the enable returns our in we these replaced a short-term debt. to on to to of what debt to million million of flip swaps. to million limits per term This locked our this order in In to that A rate X-year cash and XX We year. we us million we $XXX cash $XX increase also from shareholders. to have $XXX rate expense covenant
The this returning the maintain an These into address we restricts the agreement last remains that deposit returns to $XXX a return returns enable later liquidity. million shareowners priority. the million, and to will to cash our that us account on covenant in cash limit step $XX SAC million. year, more $XX to limits more than $XX million actions we to approach annual credit When expect increasing cash is
wrap will Slide comments on XX. my I up
also million to are $XXX to to assets million our $XXX in reinvesting our We strengthen nondiscretionary invest we plan business. capital. year, of This
to our to customers. low-cost safe maintain of regulations, We we the are and availability to all we investment committed of remain ensure and reliable ensuring supplier to remain operations choice, operations compliance order ensure fiber low-cost laws in Brazil. with our position of choice In in to need need an to and
shows at improve to million of increase projects, attractive one in strategic long-term internal to This Eastover ensure one in flagship [indiscernible] Both expect and also mills reduction and our our $XX Luis invest over We and capital cost generate two low-cost examples cost returns to mills. slide XX%. Antonio forecast $XX rate consumption reduce the at to reduction are to energy projects position of million to efficiency. chemical
it Jean-Michel, you. to with that, So turn I back will
