and appreciate us morning, good you Don, joining We you, Thank today. everyone.
I the and we would market prices. resulting on decline developments to from recent the in coronavirus oil like get comment crude the started, Before
taking working to the with our active foremost, help employees and health clients. First closely of well-being precautions our are protect and we and
the track rightsizing which integrated expertise to well has and us partnership are economic breadth early life these working matter cost coupled of deliver assessment record and of and portfolio events, leveraging our volatile includes positioned unexploited forecast the ultimate develop strong assets. is technologies inspection, too this to extend for Team's times. and our lead it in our to agile cross-segment structure clients, increased model, advantages, our with solutions. across Team engineering their of subject to In operating a scalable and services deploy While is mechanical market competitive productivity dynamic impact these prepared our with we of the
I will now review our performance.
with we We EBITDA, million, line and shutdown challenges. Heat are Treating deliver of a XXXX down activity primarily from to quarter SG&A flow, lower businesses. gross underperforming Consolidated revenues in and our as the and cash were segment improvements despite pleased various margin fourth ago, X% due in year quarter free the to $XXX top results fourth continue Inspection
million adjusted $XX.X lower gross XX.X%. XXX point or million a highlights of increase or revenues was margin, full $XX.X adjusted EBITDA or of fourth million margin and million, the year-over-year XX.X%, was year year X% Here X% the EBITDA quarter of are Fourth basis achievements. some quarter a year. quarterly $XX.X $XX Despite was full quarterly prior improvement margin, over year-over-year
up more cash was prior the in quarter X% approximately year-over-year million, the revenue, when XX.X% XXXX. $XX than gross a quarter flow by despite was of SG&A decreased of was free improvement in to compared was million doubling period. year year. the gross million Free for year. our from million. and year, margin margin fourth $XX For prior XXXX, $XX.X $XXX million $XX.X in or annual prior million the XXX over basis full decrease This of $XX.X $XX.X points SG&A flow a Fourth or million revenues or the the Full XX.X% of cash $XX year reduction of full million year realized
$XX.X paydown reducing we our with During X of of a paid $XX the the in full million, years. year than million down more debt level debt, lowest fourth quarter, over to
Our to costs. fourth paydown, performance year other showcases on flow working quarter capital for to focus full increased our and cash reduce and free commitment ongoing generate debt efforts
and further diversification. we through gross management Additionally, discipline, project market margin pricing expanded
service on-stream delivered I the will a and of now by The was quarter high-level This EBITDA. was strong the in full the workforce margin segment The positive EBITDA line, and and investments year-over-year provide technology management gross engineering, drove segment overview. Mechanical in history. Team's for fourth profitability XXXX revenue, The increased hot driven manufacturing tapping XX% which a segment year Services percentage performance adjusted year-over-year. the services. over includes the growth highest in
power of required maximize critical And work precision the to the the due collaboratively field on completed self-leveling reduced size degree was the client, the the and recently, to Going downtime utilize in advanced freight. Most solution. with modular to such biggest of process-related also to we the only industries. some a forward, the but is Mechanical in Team dam from materially a machine XXXX U.S. tolerances significant Services and and at life were performed in consecutive required its benefited largest in built turbine turbine and The positioned oil was and units, XXXX. remote the elimination efficiency. faster-growing markets, necessary costly story client's third site. provided not challenge well gas turbine The be pipeline, is hydroelectric the also and as deliver work on third sector, specialized laser-guided and at that location the on its plant client between largest of completed This consecutive Working components the all
new achieved Integrity each record past in of Quest quarter the compared expansion back-to-back of EBITDA share EBITDA than years. delivered XXX points continued to industry Quest by more X fourth quickly Quest XX% XXXX revenue in for XXXX and perform growth is respectively. driven when international performance target The XXXX segment sectors. markets continues years its well the basis and in And building margin highest-ever exceptionally of revenue quarterly its expansion. and to of XXX market with and
As client and was thorough required power clean-up recently in foreign manual needed inspection to this system. inspection their a a debris client the The of unit an lodged assembly, and Quest after cleaning. complete example, avoid process
and to operation, revenue in utilize was the camera plant operated engaged for millions of remote lost each saving tools was perform day Quest our X systems and robotic eliminating downtime weeks the to idle.
and to year, maximize to IHT traditional on compared reported Rather revenue lower XXXX. utilization operational maintaining pit clients. focused result In our smaller XXXX expect EBITDA and We the when turnarounds, to fourth stops Treating a and as large used of provide than The solutions market-leading Heat rates margins. adjusted clients to to segment were quarter downtime. Inspection Quest in we past grow the high minimize to continue our flexibility
closely We continue to our footprint to services. provide extensive high-margin clients, IHT leveraging work with our additional and stable nested
to IHT's the season and by in XXXX performance expected second activity. driven of half additional a improve is discovery stronger turnaround
laser place on disrupting We clients LNG, multinational inspection external in a sector Utilizing innovative focusing advanced international we renewables. to measure provided protrusion the growth, are critical are market. vessel. inspection aerospace within pressure midstream, of recently on revenue our refinery one strengthening for ultrasonic scanning our We an diversification and expansion of technology technology, and efforts IHT our
globally. subject facilities coupled with services inspection matter now similar Team's of and exclusive integrated the eliminated deployed the vessel solution, repair. has the is experts, other to provider for shutdown for and our unplanned Team internal an company
divisions, business except at regional market Looking standpoint, The experienced our EBITDA from West the we The division all than for Coast. in West other year-over-year fourth doubling share impacted prior Coast grew delayed was with related part IHT XX in a quarter operations our from year factors. and were by pricing quarter, geographic increased growth revenues Canadian more mechanical SB pressures, X%. cost down while the and from services turnarounds,
We monitor may term changes project activity, regulation some factors near headwinds. create continue other to and that closely market sanctioning
prior In to revenues quarter. IHT grew the when by segment our compared XX% division, International the year
compared enhanced operations markets to the generator maintaining on We on extremely machine when Team's for less and took was high operating a standard The client their a future well their now XX% continue to quarter. to aviation third of is for specialized turbine revenues certification and our aerospace to developed refurbish Central Recently, and our in standard shops customized safety requests solution administration new closest procedure European while receiving repairs. site. a competitor. that required after client our several received deployed time focus obtained and federal our is by solution all our quality. division wind We expanding diversifying proposals
deliver chemical provided single-source to the a the Team processing, industry all metallurgical than manufacturers engine world. and certification years experience NDT engine is has Through Recently, more one in inspection demonstrates ability one-source our no in programs. beyond we aerospace meeting XX provider for energy This the advanced of largest services our FAA solution, and requirements. of and to disruptions to further on necessary core while sectors. expedite the high-grade client's were secure all operations and Team's diversify time, we able revenue to ensuring
by XX% provide value. reduced highlights. injuries safety now more is performance than will TRIR core year-over-year recordable improved XX%. I and We by Safety #X our
of Susan? XXXX financial program remain manufacturers the our and to the turn proud we over for clients During safety more award of their from Excellence then distinguished strive I American and the and company. petroleum best X year, about it for I one for now Star our was received safety as a commitment review Susan fuel protection of outlook. The and and people injuries. safety extremely others. share we'll voluntary we X to the the from performance X progress will OneTEAM recordable detailed
