the James for today. step if you from in the to listening as are others and work are but ready Thank doing I'm and us, respective this Today well, technology everybody. your are since homes morning, expect many actually of being up. for lose Good Tony, well. we the James. with homes, hopeful you you, that our all call from I will I line, Mark, us first marks Thank
first the I want to which in to employees the now for those and measures line in from government start we are and today guidelines. chains, priority. in of home. by to keeping communities our operate health working on support which authority Wherever and and additional unprecedented who results. COVID-XX move is we many health possible, providing critical we've operating first our our our employees quarter and our the our Amidst initial environment, in are comments with are the customers pandemic, And operation front safety workers introduced plants supply line safety some then
communities where the impacted many challenges in we Foundation more through Across crisis. children by these COVID. working are COVID and There to There Cummins were the operate, now. support before families are many the communities we
personal with to purifying Dupont our partnered air also of We've shortages address filtration equipment, and respirators using particularly current masks protective NXX respirator XM powered technology. and
also our to are needs. We committed customer deeply meeting
the global supply and our teams working support our of in major despite suppliers both Our hard, customers to internal chain. network the leveraging and capabilities our of partners challenges capabilities are
the industry. diversity a will During uncertainty of many this our this a our relationships that confident encountered technology, and customers of XXX-year in one products, crisis, strong history, position stronger and enters period ever. leading we sheet, successfully we've strength, I'm Cummins in and strong than unforeseen emerge with balance leading with navigate very
resilient collaborative leadership ready XXX with over also sustained development group of to our lead us leaders, this leaders invested capable, years, face-to-face and providing have with in are who in a crisis. for XX We top
our securities to of took the and well, facilities of strategy we as years March. due end to and prepare execution strength for number steps cash marketable period over of the in recent position a entered with a at downturn This in of of committed from XXXX. more is a billion We billion strength $X.X of financial $X the credit successful
we the actions These our included XXXX, November. drive half During and second we reduce performance costs, number underperforming business restructuring addressing actions initiated of to announced the a of improvement. to in parts of actions
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our discretionary strong reduced help our financial compared have us positioning by growth projected lowered also strong when while outlays returns. XX% spending company. across These the us maintain deliver position, and capital demand We will to to profitable XXXX actions
practices our and to safety, employee around production operating, reduced demand support is markets. and both at are of distancing most weaker manufacturing all While world work levels, and are social because sites layouts in to currently so the doing changes in line they almost customer facilities, due
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Mark quarter quarter markets. a our major more through Now, our results then move update to summary end the first sheet you you our I'll and discussion a and performance of will and take liquidity. on of balance first financial details strong of
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driven rates, while revenues America truck declined international demand build Components for as by lower Europe quarter markets the in First revenues XX%, of segment North by result and in XX%, XX%. truck declined India. in lower Sales declined a
million income from quarter was the quarter the of and or XX.X% a XX.X% benefits compared first costs, same impact EBITDA higher to ago. the volumes. EBITDA year joint warranty in lower for the restructuring as venture percent $XXX lower increased offset
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some our will and I international our markets, cover then with I'll key on markets. of starting North largest America Now, some of comment
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near to and prices. coal China, late and below peak cut XX% XXXX. coal production Coal to in distribution In now association called prices government-backed producers for prices their transportation to recently are reached XXXX trough the domestic support
to headlines the are and many until about weak of recover. rising Data today reports for economies of is and more encouraging, are stabilize demand know, countries. with many we specific filled economic unemployment negative our activity you As markets, global start levels prepared to not and in end
continue lot our scenarios of running success. time in to are this to including key responses, and new Our time. future invest is technologies our competitive course, of spending leadership planning And opportunities during the team of strengthen position will a number products that we a ahead, to and identifying
we to position We confidence, of ahead it. started plan are strong able with the because
leadership liquidity. and positions have pension ratings through of during Cummins Tony, business fully senior we credit in and and leaders our highest all crisis. my in been our downturns at industry, I financial staff were all and the unit robust funded several many Today, of plans the while other and members have Mark XXXX
conditions, understand pandemic closer through challenging the we periods thoughtful attention of actions and clearly all and the in and of While XXXX, leading for taking experienced to times is economic this different importance than decisive paying have preparing worst uncertainty.
clear, And to investment success actions returns, at will but our advance shareholders. deliver aimed in which will not our and advantage. financial products to reducing our will, a be only competitive drive the costs, services be it also that be position performance stronger Cummins that even will our demand and strong customer When will capabilities deliver products for in and continuing
Now, let Mark. me turn to it over
