with summary the capital our Chuck. Seth. everyone. and call joining on Thank I'll Thank comments morning, to, Good start then for over you, turning financial discuss you strategy, before allocation performance our us.
three. strategy our slide on with Starting
criteria. attain growing high through define high public of returns like owning, quality businesses. economic with five operating market. businesses and Our liquidity uniquely goal is equity by private quality following We specific to plan goal to very a We the uniquely this deliver the
high and these predictable cash but Four, potential for generation streams; potential with larger Three, economic acquisitions. for recurring that believe portions growth to at One, tailwinds; small use we the that flow five, and streams; capital; significant secular Two, businesses, opportunistic critical, free returns these We products five evaluate long-term present criteria revenue of are and account current criteria tangible on consolidation. new our value
As described we consistent value long-term continual profitable our productivity new via three improvement drivers, in value drive slide equity creation four, which operational value to to the pricing improvements; seek provide. we are: on business; reflect and
allocation three operational to our to the well maximize a drivers, through as as capital capital addition seek of creation management In the equity structure. we of drive clear focus value our on our
with financial second Safety. our starting results the for Fire quarter, Turning to
expect quarterly we've the noted in annual while expect of in the an also Fire past, business, and element we As our fire to primarily of the severity tied predictable Safety North American variability, long-term season. growth we
spring the observed first therefore, the wet of were some fire and past quarter the This in XXXX our prone call, would winter most season this On materialized. start. experience States, expectation a regions and that likely delayed fire of that we particularly United
average. U.S. As quarter down and first The in than EBITDA decreased is their year-to-date reflected Safety very burned more and below were the and QX, year adjusted XX% XX%, year-over-year early second XX% of where season XX% year-to-date, respectively. XX Fire end of results, fire mild U.S. acres half ex-Alaska our
primary significantly decline for results reasons. U.S. Safety's acres ex-Alaska the three Fire outperformed burned the XX% in
and our based value benefited initiatives. U.S. business First, productivity pricing retardant from ongoing
and revenue in with our particularly with very retardant delivered second And the Second, margin also active suppressants year-over-year Canada. global growth quarter, strong significant strong, expansion. were our results international results, third, business
as doubling revenue excellent half, well. results more posting with here excellent adjusted the retardant retardant and first We’ve organic again commented previously in in on EBITDA XXXX, international the revenue and markets. year-over-year We're than growth profit international solid growth our in experiencing
continue retardant in to We markets margin forward. expect going solid revenue our growth international expansion consistent and
me business. suppressants Let moment take the a global discuss our to of performance also
breaking won't of performance. we our how progress strategy to would is impacting our I business's months, operating results, over highlight example make the our to like of out in suppressants a financial another order habit provide While past XX
XXXX, our EBITDA XXXX, the business the In adjusted in suppressants of suppressants delivered margin delivered adjusted our in half EBITDA margin first an In mid-teens. business low-XXs. an the
to XX-month model. with This adjusted into aspects We the XXXX organic our if double-digits, suppressants near revenue an half margins margins. by CAGR low-XXs implementing strong doubling suppressants leaders XPs in year not an slightly business with, unit expect three of full all our first period, margin EBITDA coupled of our be our above sustainable well reflect progress in-line operating over
profitable driving productivity our Second, accurately the market services through our pricing on making solid they new to fluorine-free business, our initiatives; provide progress more offerings; reflect leading customers. and primarily First, Third, value products our and foam
Specialty to now Turning Products.
inventory didn't As sales first versus end notably market second the throughout the QX by market end evidenced first Products remained fact in we our in the Specialty believe persisted solid de-stock pricing XXXX. versus that XXXX, half of late commenced weak that were year demand, activity improve that in quarter, business QX, the the this prior of half and our Despite share year. down
nature, inventory this in definitionally the which occur believe inventories channel As I mentioned difficult should de-stocks it's inevitably call, temporary we when will case in to on are predict while well. abate, and when will depleted, end QX are as precisely they
let first public Before make moving months away a a so comment from as our XX reflecting our or summary operating company. on me results,
The this business in clear in retardant roughly are The strategy, which when that products of our operating in across lines clear XXXX In are are improvement XXXX, The strategy. to be international years. confident we believe both summary, market and also very results specialty suppressants. of comparing markets. believe in driving are significant very our are XPs we to very we demand results through results operating each our clear similar
are This and primarily a first acres The yet our to As seasons just have first our business. XXXX wildfire year. temporarily market been very year-over-year, acres XX% is of U.S. investors soft the clear half far burned ex-Alaska couple results I XXXX not further discussed, so because improvement much, with is in XX%. the down down this burned end chemical’s obscuring retardant
we've our fire said, to value we business and creation improvement are the that more everything feel past for want investors we the which over about criteria will this feel That businesses strongly to improvement XX be visible excellent we underlying in our playbook retardant a business fits our applies. with is learned retardant own months, a long-term We and normal season. in business, confident our that in
price an capital X Turning approximately $X.XX. We now allocation. second average in shares of repurchased purchase million cash the and quarter to at
million We $XX our quarter sheet. repurchase on million existing and authorization, on ended the approximately remaining cash $XX.X second balance have of our we with approximately
Turning to M&A.
XX over frame to have M&A has our markets efforts. the and Over been months, time the consecutive capital M&A activity been mild tepid. This same challenging fire past the overall with months challenging have combined seasons market XX backdrop impacted
However, M&A phenomena. we markets, transitory seasons, believe that slow fire and soft are
building the honing operational M&A we and playbook In pipeline. our are meantime, our
playbook. delivered We part different at improvements applies what acquire we business, in-line the Perimeter. we will our so of eventually are drive playbook confident that a M&A we've far with creation right and key to where we’re remains long-term at expect value businesses our therefore, XPs
we XXXX, of acquisitions, we the well-positioned significant on arise, potential in advantage balance which opportunities here Between will shortly, that allocation share repurchases generate compelling our to to believe touch flow including free half cash or Chuck, the take capital that cash available potential we're and of might any expect significant second otherwise.
however, what don't and will control how environment for control comment the in business. Let our occur retardant competition, competitive me potential the are We retardant on competing We we now prepare do, introduction preparing potential vigorously. we of products. around
quality service of our the people. dedication and Perimeter as safety standard, our and our gold efficacy is and of as the the integrity far passion, of products,
However, complacent. we get will not
mentality We make business. ever raise in the and every are We this of competition. pushing how company what, aspect better our us than irrespective harder potential believe competitive bar ourselves even when, on and to of the will of
economics XXXX. financial confident should in similar Therefore, the We're all improved each market our our end of year-over-year XXXX, with full versus we're confident year financial deliver our notably businesses that expectations. in to finally, XXXX improved XXXX that versus Turning conditions results. XXXX are unit year-over-year of businesses
will said, these severity largely namely fire the depend and Specialty of season, timing financial results Products end on market. the end the of our the of market conditions, U.S. XXXX That normalization the
Specialty second if the of the XXXX. U.S. expectation for in Specifically, half the fire if severe is first normalizes half, and mild we market the an to overall of season that it season, $XXX where fire adjusted Products EBITDA fire is that is comfortable the the season such for compensates end reasonable a ‘XX consolidated million trend U.S. are the approximately half, on point second
In deliver control. continue on business recover, as to we'd said, end will latent in case, of either if second focus our we and each earnings long-term to across We’ll press just these units power. fail of year. half, can we grow expect our the markets each value That drivers I on articulated our softer to what
call turn I'll that, over Chuck. the to, With
