Thanks, everyone. financial the with I'll an Steve. X. pandemic update COVID-XX Good the begin Slide impacts morning, on on of
business time. impacting areas at During our the discussed that quarter we most significantly specific call few points a the earnings our pandemic where financial first in was May, and provided early data
market to have today. As situation and update commentary continued to the operating evolve, it to makes environment this the sense
volumes rate commercial waste we and which As streams in has second ton, required waste, tip to plants. to discussed, run as source Early impacting average to profiled we've at tip of economic us has average the the slowdown $X an across fee be quarter, replacement prices estimated $X impacts lower per the our fee. MSW our both impacted
the negative $X quarter improved impact to average $X was the June, our running evaded As At waste per May and $X at and that the for in impact an is on per ton. currently tip and exiting overall trajectory positive volumes we quarter, fees mix the estimated the estimate ton. pressure approximately the
waste the basis XX% XX% pace upon course Of of year commercial industrial recovery to the and dependent our in due the overall economic balance to therefore, and monthly mixed approximately be quarter services over volumes, the lower improvement of on COVID. revenue further by a ended down and will price initially Environmental average in was XX%
impacting revenue our impact However, while coming looking we was even ultimately pressure facility originally limiting And XX% of incurred margin we further to this forward, likely and incurring XX%, operating costs second decline $X of estimated continue to approximately in the to in of on to in XXXX. the a confident variable costs cleaning. quarters XX%, revenue at to we're In personal We decremental last in to persist adjust into anticipated, and In discussed for more million ability protective direct the estimated pandemic. for currently safety, higher than business this we're quarter, plant response is this EBITDA. COVID the effectively equipment including over able these to costs but quarter, costs the operations, we business. facility come by had manage as expect
weeks schedule in in order performing XXXX full revised emerging in maintenance see appendix this reduce in Note, As of this pandemic. a outage in as as now in typical reflected the Steve of range the in discussed, maintenance as execute year, scope expect for estimated And initial the half maintenance. more result we a our original work expensive. we of than timing second now of higher to environment the than activity rescheduled spend adjusted that to a shift is the represents the heavier you'll out presentation. more our risk And
our the during that these of impact announced of million an evolving targeted little unlikely factor now proactive response the of to increase maintenance as the to That the maintenance outlook unplanned Another the conditions these just reductions at year, also second The second impacts to towards range. consequence of $XX is range Offsetting to is ability savings in many estimate contemplated top which in the a business for for cost in that deferrals in already in are We push $XX quarter. we're flex have in million. improved, And we the tons downtime increased originally expense mentioned. situation. a million over April, and we the $XX reflected processed initial I is for our quarter. that experienced realized
that cash guidance XXXX. EBITDA You'll have adjusted we for for not and flow free reintroduced see
metrics the market operating visibility waste in in maintain on clearly the improved. we're degree remains business high the have And providing. of environment While conditions we as challenging, our particularly business a expressed
driver pandemic ultimately the and basis the for revenue COVID-XX impact consequences with the determine on as However, overall predict on XX% and prices quarterly we what don't cast results our to and to entirely for aluminum of essentially number to our XXXX. will lower high surprisingly economic a flat financial by million X. in recovered by was service market of Lower XX% here. reduced ferrous policy compared control. course $X to the last And of HMS scrap responses respectively. beginning one were and discussed year-over-year now second of out or is energy million Realized try we've results the market want X% primary quarter year. on I'll waste revenue resulting metals the side Total $XXX prices was from commodity the turn revenue index reviewing million, old the $XX year. index scrap down quarter Not and Slide the
long-term by in while revenue quarter, million million. $X Asset added reduced contract the $X divestitures transitions
the X. increase moving to million Adjusted XXXX. on in to $X million QX was Now compared quarter, $XX a Slide EBITDA
and headwind our driven program prices. Commodity Excluding again, lower EBITDA more deferral maintenance on certain planned prices the outages of metals million EBITDA, were by revenue the than net offset commodities, in $X adjusted as improved adjusted $X lower cost million quarter. by the a reduction
type the million to related largely than cash outlook to our while only much which of the million the reflects date and the In Clearly, the the the number million heavier the to $X typical. the half. benefit is quarter million year, we've capital, cash Now resulting reported capital of will the we're quarter accounts Slide much EBITDA spend. maintenance and $XXX to Covanta free maintenance for reverse Free our capital both first expenditures, payable not driven flow flow related significant fee and for contributed for impact reduced first the $XX conducted to year-to-date versus historically typical in now year-over-year, is the $XX guiding expenditures increased impact also less calls than second $XX X. was full you working not should $XX in spent which activity maintenance the in for a comparative in capital weighting summary, compared including receivable was which inflows And basis. late by that, for year quarters, a which from both working $X last accounts half in capital the in million, first quarter free service adjusted in at million of QX turning facilities was free second while a timing XXXX. half. million of Further, cash the We've half or year, Higher lower cash was year extrapolate based of flow quarter. million of to on flow largest reported $XXX to on not plan
please I'll review X, Now, Slide to our turn investment where growth activity.
acquisition reimbursed by first and but $X its our balance year. March start-up discussed XX, when close. quarterly my project secure million an from costs, Covanta the the the At the As the wrap please development June land We of $XX expect of in built. facility. in on the comments will partnership exercised and see approximately made be call, including UK sheet, to on spent project where Protos be reaches about second investment the this Slide XX. will focus project up was million spend quarter, the project the financial touching on growth plan we on $X.X billion, by the million this XXXX, debt $X X. investment to $X total UK, I'll half we to primarily our in TAPS net TAPS land in million down for option In last
covenant QX, four ratio credit times, and X.X at under times six over the flat our revolver liquidity flat ratio which well of with $XXX limit facility June leverage was and consolidated million was XX. Available Our covenant is was also the below senior times.
we Our as remains navigate and stable more ample provide challenging balance than sheet liquidity this period.
no material anticipated on several and As a constraints kind reminder, business any now or have in debt covenant either the for maturities we no our of future. years plan
concluding I'd some to Q&A, to hand move to it we Before back for like Steve comments. Steve?
