Thank you, Ben.
segments. our quarter performance I'll Now through you take second in reporting
Coatings prior Let's down year volume Coatings slightly X.X%. Performance segment. our by the Performance were with begin from
$XX.X Adjusted Our were net decreased constant sales million. million to profit million. $XXX.X a currency from X.X% $XX.X on gross down to basis
over margins positive customers, distributors in XXX more a XX%. seen our the second from continue to year lack XX.X% for the their Coatings as relative X certain because do future the of focusing On quarter visibility keeping cautiousness working been a have They to Performance XXXX the levels We've both by quarter we end their and low, improved customers and on gross and have the increasing to still points, quarters. inventory to expect of remainder so requirements. will destocking their they customers past among been first basis capital note, that
have also some experienced among customers. We earlier-than-expected our summer holidays
summer the yet clear visibility started just Some It yet. demand from begin how demand the taking may second the don't that be or higher result that in clear will third earlier in long us holidays lower on holidays There in will quarters. normally these We to fourth the customer last. in not have these holidays quarter, third whereas the will is in quarter. second quarter
for an end we uptick levels Likewise, customers products. could translate distributors low good additional and in industry inventory, the have demand But, just our quickly visibility. don't with again, carrying of into
Now to by from a gross on basis sales, basis decreased the Performance let's increasing $XX.X million segments. constant XX.X% at X.X%. year. currency the our in in second $XX.X volumes first net increase XX.X% sales second in lower and gross points, Colors profit quarter. look did the from quarter, Glass Colors In the XX.X%, million XXX quarter and we declined margins Performance prior the Despite with down Adjusted Glass to
approach. with taking subdued wait-and-see generally was Demand customers many our of a
to customers the the relative year. the demand the half through expect We the in of to remainder extend XXXX, first XXXX pronounced from maybe although automotive weakness weakness than in less of
X% an the the of over With weakness of the global automotive production of second having forecast half of XXXX, industry comparatively the XXXX in X% the first this in an approximately decline half course suggests and year. less declined
this automotive experiencing Asia our our year, Automotive are strength across all regions. mostly mid-single year, Pac. But to in business Europe business Last due and in we digits weakness grew
and XX% quarter destock business down customers the was approximately their Automotive levels. as Our work down in our second inventory
pastes quarter. was Our approximately of and grew X% film, capacitors. and for sales tapes driven Materials business North by American multilayer in dielectrics the This sensors, Electronics
to the Decoration was had the repeated. digits large compared year, we off-cycle that in some prior orders were year not as mid-single down quarter last
a Solutions. X%. million profit in Now quarter, -- while to sales turning net were down on volumes In up $XX constant the million $XX.X currency year. second $XX.X basis from the X.X%, decreased Color prior to Solutions gross were Color Adjusted
basis continued Demand other continued point here from quarter in weather from As to and XXX Solutions, a improvement with due our United increase, second automotive XX.X% we reporting in unseasonable blue soft XX.X%. States the Color delivered the margin pigments away to for sector. a our in shift was quarter sequential in the segments, shades
our for products in platform XG was technologies quarter, continued remained Demand development. the by surface which strong driven second
likely benefited because last in compare off-cycle XXXX same in second from will the the semiconductor we of Looking sector. less ramp-up ahead, year, period an half XXXX the to favorably from demand
Customers business. the ordering our being on weighing are We environment. cautious of this the through uncertainties trade anticipate about of are current that persist global limited earlier, said state second I XXXX. As in will visibility half
the demand to uncertainties, continue balance have will for customer associated that led expectation our guidance macroeconomic circumstances and our these of Current predicting year. us for XXXX the difficulty the lower
EPS. guidance to updated our X, than anticipate you to range $X.XX. rather $X.XX to see for EPS Slide $X.XX, Turning of will adjusted now an $X.XX We
of for We our $XXX guidance EBITDA. now EBITDA $XXX than to $XXX million rather also million, updated We adjusted million to million. have anticipate $XXX adjusted
We conversion. are lowering flow free guidance our cash on not
maintaining are XX% flow XX%. cash conversion guidance We to on of free
priorities prepared remarks this half of of our for discussion my with second XXXX. finish a I'll the morning
the within markets focusing are to to best the we Ferro position and in our control compete We on win serve. things
profitability; XXXX, of new initiatives, customers rationalizing In our markets. products continue innovation benefits in half XXXX; so from our optimization more for including realize applications and the customers' that will prioritize operations; initiatives second and fixed product optimization accelerating and costs manufacturing removing we we for developing our portfolios and to next-generation
focus managing In balance cash on generating and addition, we our free sheet. flow will
to our take we're that remarks. Kevin, concludes So ready now prepared questions.
