you good afternoon today's everyone. Thanks joining for Jay and Thank call.
of to difficult better our our The us quarter, Flowserve distractions our adapt and the to of the their this pandemic dedication daily Before I the manage want change approach routines and COVID time. to has virus. discussing all during productivity required thank first associated associates for acknowledge and
a While been essential by I'm impacted employees QRCs commitment manufacturing physically has supporting Their hard and of the some high delivering workers will and our earnings Flowserve flat financials customers. per our our our have frontline delivered our virus, in Amy at our cover been quarter driver but in second performance. work detail, appreciative year-over-year. facilities was XXX% level in which day each a $X.XX, share to each of improvement sequential key a who adjusted way especially was and present of
demonstrate to cost X.X COVID through great results quarter and work the second ability material from leverage reduction actions, persevere the and our the Our take Flowserve swift crisis, transformation.
Our energy the of of strong the despite as far $XXX year-over-year unprecedented at shutdown price due liquids to decline quarantines. with and Throughout COVID pandemic. most April volatility the a March been plummeted demand earnings with million. our of delivered for XXXX were worldwide the and an has markets significantly global revenue year declined thus end X.X% combination global had
severe capital Flowserve's bookings subsequently correction this their certain environment. key we both announced demand cuts spending. projects new for the maintenance stabilization and in quarter in customers Our Despite second spending growth reflect and saw ongoing metrics. significant
Asia chemicals instance, specialty throughout remained some and reasonably demand like markets For water quarter. the more and to normal returned end profile strong a
to a of production. for health long-term necessary are to OPEC+, returned curb Additionally, crude are prepared to as we measures and oil business. take Nevertheless, prolonged prices $XX actions downturn the barrel operators, for including took per our preparing the
time. persist In for COVID-XX, this from some pandemic of to we challenges expect terms the
in have short a to new We time this has adapt that of learned a helped period relatively lot us normal.
of safety maintaining health actions and our in and Our be has the top will our people. priority
the follow safety Control. Organization and Health World Centers to for Disease guidelines continue We the from
flow temporary in site global our we footprint, ebb experience and to various as geographies. cases continue Given closures COVID
significant undertaken advance to our our protect steps business. continue can as safety to our have associates We essential they of
reviewing proactive despite shifts anticipation prevention our office. measures are the disruptions second testing stoppages. have many distancing to back to we work-from-home, their updating ongoing and social cleaning make temperature persistent into productivity return-to-work consistent continue operational our us and the in of enabled plans helped of pandemic measures, level, the associates and improved At throughout of arrival well site and response work our screening, the While staggered constantly as Implementation procedures improved quarter. our has as progress
we in of in As level these we occurred to deferred experienced able the recoup profit a that second some quarter. of deferrals and first were the result, the reduce the quarter
markets running today, open facilities in we of uncertainties, In normal energy quick COVID-related action and ongoing challenges decisive productivity. our Flowserve. the at taken our to and all have close are reduce overall recognizing As to and of and response cost the to the structure operational
our quarter the call, we necessary $XXX This coming our to from with XXXX. temporary cost year from the benefit on remainder conference comprised actions cost roughly first to cost of discussed measures. amount this structure avoidance a expected As year's million from have is drive structural an half compared implemented steps
approach Next took return, year we but full taken. that actions structural offset some the a the of The worth year's the more in have than by changes we will temporary be of costs will way early level our our I we we pleased with commitment second May. this executing quarter, of that has the us $XXX in communicated phased to are crisis. tracking million ahead am
operating business the our support successfully and new world continuity providing customers. are COVID in for in We
with of emerge steps I taking the timely progress, Flowserve Flowserve uncertainty. flexible more well-positioned the for a transformation stronger downturn. as through are we necessary manage Additionally, taking actions we and are And company this enterprise. manage the be confident future. to will successfully continued am to will our through period
quarter utilization highlighted result the markets. second infrastructure commitments, capital decline our as has preparing Turning investment, were a decline our uncertainty quarter. the now that expectations, lower during significant currency of in upper-end we XXXX by at delayed a budgets. We primarily a as the difficult our our last spending to rates which on by in the customers' strong compounded a a delivered bookings of driven driven quarter On in current bookings given bookings second call we for second was operating XX% project and the basis, comparison year-over-year, our constant declined
with to canceled. million, constant and recall, we quarter second held bookings that get contrast, awards. access the as feed stage, impacted LNG, last a has quarter The better quarter million, saw compared Aftermarket turnarounds our award of scheduled gas currently currency included potentially year's year's equipment, the was in Original highest in combination clearly and By $X up second than XXXX since addition down to to their pushed we in were concentrated continued a opportunities of later energy were but to might to solar could and forward number XX.X% original in strong down and pipeline delayed second we limited $XX willingness spending. quarter, customers' be of bookings the to in number $XXX smaller facilities nuclear level constant XXXX second million equipment you and some XX.X% awarded Awards As of challenged million, and get date power volatility Aftermarket to currency. out $XXX the over $XX projects quarter. be expected million received last bookings and our customers' a of to was large COVID and the quarterly power oil a $X largest million award. projects move totaling
second As the delays, constant our currency environment. XX% affected and down been quarter. projects oil were by market continued cancellations have total, challenging end bookings $XXX expected, gas current most in quarter the over reductions and by impacted year-over-year, In to Last the year's We the in during some period. markets the XX% bookings saw potential scope million. was increased also of had which compare
brownfield constant bookings chemical in flat. small of will currency Any the reasonably Specialty million. were do project projects as declines be offset likely demand Based decrease in strong award and quarter largest markets. basis, ways was FPD's Asia discussions the that oil our reevaluate this any remains viability on project partially costs. competitive gas major greenfield and progress quarter, $X while by will the that down customers, that quarter $X do progress large pursue their financial were delayed of driven environment we included bookings awards roughly projects' to and most petrochemical one Pacific. attract operators This with the On expect just primarily award XX% chemical decline in in XX% million we in FCD significant attention. the The a saw and
Moving power. to now
three were in XX% slowdown FCD's FPD's where business distribution impacted power market constant including was increase million by awards General XX% offset the flat currency where the with XX% be where in XX%. FPD's XX% North by was MRO from more FCD's Our the totaling were increase nuclear offset by up industry quarter bookings FCD's than XX% $XX bookings America. growth decline. saw was bookings down continued only headwinds to Mining market decline.
Finally, representing the smallest with awards. XX% water our decreased quarter market, bookings significant no in
expect of and North our decrease East However, markets Pacific XX% declines XX% respectively. the offset Africa X% water. in continued and growth in water of Asia do markets Latin and Europe's the to investment demand municipal Regionally American from and desalinization we more X%, Middle in America and and than
to hold better Europe We remainder of see and to North East and Asia the for expect the year. than America Middle up the
towards spending, we've that team large our With capital shifted have equipment seen and priority decline customers' margin higher opportunities. aftermarket the general our in replacement their sales project
to pumps, our line aftermarket will that shorter spending continued We constant quarter equipment issues customers customer Aftermarket defending in by in most side XX.X% has base which up large Our while our cycle the the included well and modify and the our plans. intensity customers commercial on at second X.X in quarter. impacted Flowserve customers project as reduced valves bookings headwinds support from currency transformation position global access original locations. markets site believe their of our internal installed of basis better held related us declined original our reasonably and seals. investment forecasts, a second protecting program been our with equipment our The business our and
the is available win. focused to Our on selectively commercial team winning is that work
will pursuit opportunities to plan We our desire driving aftermarket in and balance for of we the growth where base with disciplined manufacturing our installed capacity. loading remain
to costs. our quality backlog and drive to available remains win of through services despite environment. focus a excellence I'm leverage products transformation orders. ability confident improve competitive our and to the on position to our production Our Flowserve's pricing share manufacturing led brands, continues lower the in superior our distinguished quality competitive efforts building
Our Lean a reduced facilities. journey and has key increased progress number throughput of significantly waste in
Lean journey and pursue further to throughout we expect continue We XXXX. our results
and costs to to in supply addition chain we initiatives. through design-to-value product reductions deliver In continue our Lean,
consolidate our locations, Finally, manufacturing capacity manufacturer in further all and our as presence. we strategy to and our manufacturing we of programs up opportunities implement freeing overall are simplify identifying these
quickly, on While this in rationalizing happen overall make roof our line. XXXX progress expect will not to we do
Our flexible transformation program half designed and was to entering operating create model efficient XXXX. more a complete roughly
we in the As situation. to a we position to react a believe much better result, current are market
Turning Versus XX.X% and margin the increased reflected up to XXXX margins XXX XX in gross to our gross improved basis the was operating while actions and Both operating performance. the quarter. margin year, XX basis XXX basis substantially and and down adjusted cost versus took respectively benefit we QX, points, of margin adjusted XX.X%. second prior adjusted points, points
and with our of was America of million $XX drove management limited included impact $X both in quarter million million down the XX% at bookings nuclear basis revenue gas despite exacerbated decreased second commodity $X power a gas quarter represented several constant the America. to currency awards, Aftermarket $XXX environment. Strong and constant bookings primarily further adjusted since were bookings, MRO FCD's million cost pandemic distributor In totaling impact currency prices Pacific business decline. quarter's XX% Looking the by and segment and project XXXX million. decrease combination award the $XXX and adjusted LNG, and over XX.X% commodity volatile where FPD's million and North of and margins in to flat on slower XX% on sales by in in destocking. oil orders bookings Asia a included FPD's margin $X segment, small pandemic oil activity North awards, the the The project quarter gross chemical the the basis. points approximately and highest second the currency booking XXXX, constant XXX was operating significant decreased created and
a year, and $XX driven original However, our the million equipment shift flat revenue basis drove equipment actions seal growth operating performed offset margins SG&A. absorption well despite basis COVID was FPD's points, increased adjusted aggressive cost prior original challenges. XXX where XX.X%. towards Adjusted a business with decrease aftermarket XXX by benefits point of in
percentage XX.X%. decreased sales, basis As SG&A to points of a FPD's adjusted XXX
I to greater Amy call provide now detail, turn in for our our half. financial the results to the me outlook before to cover second Let over return