Thank Dante. you,
Steinfurt acquisition, income to from continuing doubled growth share. boosted year and benefits by million Adjusted materials from strong the of or quarter Airlaid than organic million prior second $X.XX actions. the Second $X.X $X.XX when more $X.X or earnings per share compared operations quarter, was cost-reduction in per
material Composite lower Slide shipments the neutral from selling by from year second higher higher adjusted $X.XX prices cost-reduction last prices, share to X a net offset quarter favorable of this hedging. quarter earnings as per shows benefits to were of earnings and second of $X.XX. year's results actions bridge and currency Fibers' raw were
results to following growth as strong corporate Materials' by our the we costs addition by interest legacy the Composite from $X.XX. of results lower taxes $X.XX, divestiture size X reduced business. a for borrowing Slide Net by Steinfurt improved earnings financing improved of by business. driven the to and expense volume driven Fibers shows results our the Specialty $X.XX results Airlaid by increased costs second $X.XX right share acquisition structure and earnings Corporate Advanced summary the Papers continued the quarter of per recent portfolio. by
a to lines. basis XX% The constant-currency volume the year. continued. volume compared were shipments last lower revenues most market Total the declined posted composite of in product as due the growth, food in year and to declines X% exceptions overcapacity which product ahead laminates, for while marginally Metallized beverage were quarter shipments on XX% were prior
that we are commence, quarter fourth However, to large expect the qualifications this of year anticipated first we secured commercial the customer a wet-glue during quarter. in shipments with finalizing with label and ramp-up volume
impact continued lower market customer shipments local competition restrictions, with and Wallcover weak XX% from Russia-Ukraine trade were demand.
XX% However, basis of on sequential this we year. the improvement volume quarter a from quarter experience did first
the environment indicate cautious the commercial the to normalizing, for volume further the Although this year in about of is be given volatility remainder continue we that may this high market. recovery
energy by strong impacted quarter. negatively beverage On in than materials, in continued and coffee With abaca offset prices the shipments. were tea in side, $X.X declining as food higher costs to we more second growth and the by offset largely raw pulp regard declines million wood was
and are to second year projected to largely markets. are full higher slightly For volumes dependent versus be XXXX, down flat quarter, slightly shipments while the be quarter on the expected third metallized to the compared wallcover to
be selling in And to prices expected are line.
abaca to the offset by continue projected benefit price are trend, a expect prices downward to be we increases. largely pulp While
we quarter in we downtime machine levels. be third as to quarter in line with manage to the Finally, inventory expect continue second
shipments Including quarter business shows the XX% for of million XX%. The with revenues the also tabletop to The most second across volume basis XX%. the on Materials growth summary Advanced were up a quarter XX%. business. revenues on $XXX wipes legacy product side results were X of up solid XX% strong Airlaid XX% up excluding a lines growth attributed and of Steinfurt, legacy total was while with Steinfurt volumes recorded Slide up up constant-currency
of volumes. portfolio more offset overall pass-through business. selling material pleased were contractual are price with growth and price Operating were by the the largely partially Fort capacity $X.X customers. in to through and currency. offset We of see million Raw contributing increases profit success in that this to is was by Steinfurt grew and than favorable energy and by operating arrangements to new costs the Higher the Steinfurt Smith driven legacy by addition increases the
total third raw shipments increase quarter, quarter. are we to the expected and For compared prices slightly anticipate material slightly. prices to the to second decline Selling
year. to $X to guidance the $X last items. other as our reaffirming at shipment guidance legacy and are quarter range million the the costs the remains stated full X and range corporate shows for XX% business for financial be operating We million on end growth in annual high X% in of profit to Slide Steinfurt the
been accordingly As a divestiture include as for Specialty Papers. to in and Papers allocated periods shared shown recognized reminder, corporate costs of all adjusted discontinued to following operations financials, the service that previously Specialty being its consolidated corporate costs have were our results
by headcount including half corporate costs declined rightsizing to million in prior driven and the For reduction period of compared the professional year, services. the spending first same $X.X year was when by and
ramp-down We services Specialty certain to and increase by range corporate in Papers expect costs transition to to corporate of million quarter third business. the the expenses the $X timing driven of of the related million, $X
in by to remain XXXX the target be as We the $XX expect We costs take of compared on to to $XX to $XX total end XXXX year out corporate to levels. million million. $XX range costs full million million of of
plan time, control with plan June as greater view our long-term plan. also same enhanced our At qualified of We terminated assets. of with XX contribution risks toward over to provide transitioned our employees managing to pension an a such eliminating the we retirement their defined
for costs We to postretirement Slide our expect shows cash our no material and benefit free change XXXX. other X pension flow.
quarter, by the quarter usage, increased second free higher lower earnings, adjusted year driven payments lower flow spending. the and was million slightly lower During working $XX.X compared when interest last and cash to capital second positive capital
$XX in We $XX capital to million range amortization for while total the and projected depreciation to be expense expenditures is $XX million XXXX for expect the be of year. to million
grow full are expect rate year forward to as profile And capital XX%. We all approximately XXXX cash tax us. we behind flow are for major going to continue in improvement and our projecting significant earnings our now be projects
June and Slide X.Xx X quarter million. Net end liquidity $XX of at sheet liquidity XX debt $XXX some available balance metrics. on Net had was was leverage we shows million. and
earnings We expect improve the of as by XXXX increase. end to flow cash and and leverage our liquidity
to This concludes my now back turn Dante comments. And call the I will
