to a of investor approximately summary the Thomas. second last quarter the million presentation results. EBITDA provides Slide X of of Adjusted year. quarter $XX our or compared was $XX.X you, Thank million, lower second
negative Ober-Schmitten were fires. drivers primary impact the described, from two just Thomas underperformance As and the
unexpected Ober-Schmitten EBITDA Asheville. approximately Fort fire million, inventory Fibers the maintenance demand Smith lower production approximately effect was impact lowered in to Spunlace by downtime levels. of and and of manage to the the of $X by EBITDA improvement at led weaker million, fire driven costs. $X mainly EBITDA negative demonstrated by approximately despite the lowered $X Composite related material million, was to Airlaid that
results of shows versus Airlaid X a same Slide material constant a year, X% last by were period of summary $XX higher driven up second Revenues currency for selling quarter the on basis segment. higher the customers mainly prices well volume. arrangements, and as on and costs The million from materials through for arrangements, as energy offset of surcharges raw the fully energy. price higher without contractual lower increases passed such approximately prices cost initiated
in offset weaker by home from hygiene X% which by shipments improved inventory shipments lower year-over-year, due was category in destocking, primarily care. customers’ feminine Volume tabletops, and the partly to was wipes,
the million versus fire downtime Operations to $X.X to Smith, Fort maintenance by were costs. at unexpected year, the and prior primarily due unfavorable leading
Foreign exchange currency impacted euro. of the earnings by the related strengthening primarily and hedging positively $XXX,XXX, from
X% higher actions a to due million, shows implemented constant X revenues of implemented, on surcharges energy Slide successfully up results the basis and summary composite quarter selling as Total XXXX currency of were for inflation. fiber pricing as multiple combat $X.X well in a segment. we successfully second as prices to
pricing product versus higher mixed conditions XXXX. quarter and margin. in categories, negative last reflecting year, X% reaction was and revenue the taken was was late in Demand impacting both action to soft same almost some challenging Volume unfavorable, our by negatively all market
key in to year and pricing positive the this more versus energy, on improved basis, million earnings On action. XXXX. on lowered half more energy second and a raw raw offset of freight were $X.X for we and prices by note, inflation continue by the expect quarter a Higher trend sequential same than materials the materials, and last
by was other is Operations for closure $X.X the announced decline in levels. by year now year production over million site driven as as for EBITDA Ober-Schmitten May. was to Of million lower previously segment, slated $X.X million, manage the $X.X unfavorable underperformance and this inventory from
was exchange gains from driven last by unfavorable Foreign $XXX,XXX, hedging by year.
shipments segments. partially but the in higher volume offset coming and was million Revenues to taken results $X decline were driven categories. currency down X critical on of hygiene for by a The XX%, Spunlace second by summary of XX% constant primarily approximately selling address a cleaning Slide actions shows inflation. of lower prices the from quarter basis
shipments were converting North market by constraints the in Europe alternatives, market as from our imports volume more mainly Turkey the most America by access and where cleaning as softness, have experienced was China. lower on decline lower due customers. production well to In while cheaper was Critical our impacted side the in cost to of hygiene, European customers
options $XXX,XXX, critical energy. driven Raw energy, material, lower are asset were and improve competitiveness as utilization Europe other our inflation by the favorable segment’s continually We to are profitability. exploring cost these to in and
approximately demand. other inventory Actions to million. the were result weaker as reduce and improve favorable. $XXX,XXX as were year-over-year FX, the part items net a and by Operations, offset of fire benefits to benefit of Nashville a of operations taken created These control and in production turnaround $X headcount lower strategy
Slide X corporate shows items. other financial costs and
second summary. slightly Slide For corporate year. cash lower X period our were the quarter, same flow costs shows versus the last
about as quarter program. approximately unfavorable items credit interest were period QX the was by lower to flow in COVID-XX well million These $X second related of by the of partially million. million one-time taxes in refund recovery $X as versus and was cash the cash million, received were adjusted by ERC from XXXX, free lower a approximately offset tax cash higher same Earnings our $XX by In lower XXXX. $XX approximately
balance liquidity some XX Slide and shows sheet metrics.
covenant quarter-end. and ratio as agreement bank the million Our XXth of under leverage as times credit was had available of new at liquidity calculated X.X June $XXX we approximately
turnaround for been certain rate shows normalized fires, the our run have as year-to-date for When strategy. that Ober-Schmitten’s those two with items have through for performance reported. EBITDA than our XXXX results our XX addressed first-half better would adjusting year Slide control our outside the and been
relates we third season be thereafter. shutdown are to from earnings it any Ober-Schmitten, As to excluded and adjusted quarter costs operations to expecting
Smith Fort EBITDA second in the any impact $X do cost quarter. and over was third carry approximately million from into quarter, the The the expect and Nashville fires not we to in
a the largely at anticipate of an that stages buyer QX was operations guidance is not the several we accelerated quarter. sell the EBITDA end in in prospective site our May. We for final close to our with Ober-Schmitten’s a underperformance a summary flow process cash of of to months anticipated the earlier XX long were expectations to did due and XXXX. EBITDA below Slide
the party However, all mid-May closure month. negotiations decision announced interested the the of stalled site at in end we weakness, market due and to
are have to lowering to result, our a million when will we guidance As the stated and on-going to down a wind million. Ober-Schmitten impact EBITDA continued financial between Therefore, guidance. $XXX our $XXX be now previously operations negative compared
items, flow cash following. the expect Regarding we
million or Capital our approximately latest and interest in $X interest which be lower completed million between expense $XX million Cash the refinancing from the $XX prior of of the $XX guidance. quarter. includes expenditures to projection first than approximately million,
usage result cash downgrade approximately cash turnaround expect and terms expected impact working payment We costs from of our rating approximately a higher it’s to prior our $XX adverse million from the of shorter related guidance than severance capital million Ober-Schmitten the and driven combined. by and shutdown costs accounts is last payable $XX This strategy credit as direct year.
$XX my prepared cash or lower be This approximately are $XX prior finally, concludes million million and $X remarks. taxes than between million, expected our And to guidance.
I will Thomas. now turn to back the call
