Tim S. Nicholls
performance able to Mark, I'm quarter the be with and you. back happy very and morning, second to share everyone. our Thanks, Great. in good role
by $X.XX on sequentially, presentation, Operating X driven earnings our let of strong share improved me and which operating slide begin price realization is performance all commercial per earnings across So quarter-over-quarter businesses. bridge. the
Distribution of prices we've rail were our and, Input outages costs and quarter on due fiber favorable, availability a as second lower well trend truck now XX% costs. performed continue another Our diesel tight was as what as to costs higher to completed mostly quarter. in in fuel very recovered operations mentioned, well maintenance outage planned higher heavy Mark in XXXX. the
distribution to We environment impact. aggressively the continue an to expect be to ongoing challenge its mitigate and work
in effective company. And came lastly, to taxes tax about in, the debt, very EPS. expected as across and the the expenses to performance deduction were strong due a out quarter. non-FX on a in XX% Ilim's largely rate with equity sequentially works lower corporate which U.S.-dollar-denominated $X.XX charge net our Our to All earnings be
team So, America. to $XXX in XX% turned of X, quarter of Industrial quarter the and EBITDA North performance page in on strong turn Packaging. Industrial margin in very EBIT million the I'll Packaging, delivered an with
and very materially position Again, business European we're running, continue about fiber higher across our the having demand good coming and rail planned costs non-integrated distribution see by input it improve as American increase second the of to LIFO energy in completed we the realized North XX% strong the and that, have maintenance the paper outages in of quarter approximately Madrid exited our days. includes the price in to to recent first in the And all improve said revaluation and cost on In margins, costs, with compressed and Operations our Industrial also of year. quarter. the process inventory margins we channels pleased But continue costs, XX% half partially in the Once We system. our Packaging the we was related box which recovered price business. fundamentals the our increases. second start-up higher mill product and business. costs to Packaging recent offset on favorable performance impact up business, lower expect our range. charges our see and we of across is on We've saw will
of big and acceleration outages. in Global on X, $XX lower second The earnings realization slide maintenance the Cellulose Fiber to delivered million planned Turning were two of price the quarter. drivers
to and we demand fluff outages healthy to last to X% is in in the segment recall X% Global help that may annually. pulp customer you meet demand some the continues On demand point, moved grow at quarter. the strong
record the on making we quarter, which that shipments, the of the delivered the bringing and we're commercial about second line. fluff side, pulp is initiatives pulp our Overall, XX% mix. business they're represent progress the to bottom the optimization pleased with During that
Moving since to improved demand we have page Printing year. mill improved American last significantly continue to operating see rates and globally, X, Papers on North
such, and million we although to Brazil runway the realizing essentially the input this the price and which the at year. As effects we despite month. in operate of in. we're increases the paper across truckers' planned The operations sequentially the all America. North costs in impact flat, remained improved for And costs the lingering FX. mill well the earlier of elevated, $X truckers' outages We're was Operationally, incident we've distribution regions Kwidzyn business. returned XX% of normal our favorable strike improved Volume were offset did perform by strike of that with the now in maintenance particularly pleased earnings completed and
you three you business, As year X, trends. from revenue we see a slide with came can out growth. of growth industry tough on growth ahead that half industry In we in box XXXX growth benefiting our businesses through see are this strong a are weaker of show high a American first to we're that what continue certainly well-positioned our segments level, In on secular the volume is of comp. all profitable strong North can At year-over-year quarter-over-quarter. consistent business,
XX% year-end. increase was realization we as also earlier second with year, we box realization We at on of recent progressing looking are a the quarter. the well that announced quarter be this at And by quarter price the with should year-end, realization to our the third third end XX% full exit forward and
have mentioned introductions Fibers pulp of with which in We're As our have fluff quarter. earlier, business one segment, pulp in price of is we realization I about overall product papers, capture improved the also pulp in our propositions profitable the value brands demand Global global pace to to are accelerated new expanded In second of in good progress XX% reasons making Cellulose growth. and the we seeing mix. fluff
on benefit from mix. in XX. third million at in before after-tax XX, charges. on IP's margin a In earnings our Mix a Taking foreign less our $XXX continued delivered that Industrial second is dollar-denominated a Ilim quarter non-cash million venture portion note $XX Also foreign has mainly one a the outlook which net equity quarter $XX currency by to to third EBITDA the Packaging to day debt, Ilim's geographic and price exchange was U.S. IP's realization record due $XX see look slide increases, expected joint be North of were $XX the recent of operating North EBITDA million. impacted Turning XX% business, of headwind expect quarter. and of slide shipping an America. million we million were American the to in charge mostly
Under $XX million in expenses operations The in increases Russia, million seasonal an of interest to in partly third input tons And ramp is a see offset year as million. within $X tons we higher the estimated system Packaging, within in by to and $XX costs benefit start-up. $XX we Global Europe expect X,XXX lower. to lower, equity the start-up while the to start-up and up be expected Graphic during per benefit Volume million, business, with quarter. the to outage items, expect increase tax expenses Also Printing metric outlook also customer We expenses mix. In expect to expense Packaging. to expense Madrid costs million, Cellulose expected business, demand, our expected recent of Brazil In investment our expect demand of include the to full is meet Printing our Industrial input joint corporate improve XXX,XXX will mix. a by lastly, outage will be incremental related the outage stronger recent see our effective $XX on of Fibers one and full continue benefit with increases seasonally metric Papers rate $XX is global mostly and and benefit will run speak at Staying day from to sequentially $XX are Brazil, million expected we and related improve price process the as to from for you to quarter. our Papers, capacity be venture $XX to million wood million we for mill and $XX are improved of lower. our and by year price end will run and we million $XX a we with our Other Ilim earnings, $XX in from increase Volume million, see million. and about expected to mill of
to we and how will more on Looking our maximize capital allocation cash take at creation from operations. specifics sustainable I share our and with you moment to value want strong XX, a slide with framework
sheet and International with we view balance strong the Paper flexibility provides to a and foundational investment-grade credit strength We of value financial rating, to maintain maximize will which as us creation. the
to to about Specifically, regard the EBITDA pension feel With times horizon. a will funding very on are we debt today no basis. X.X on times Moody's we plan, with X.X target good we to of requirements our where
continue forward, plan de-risk there to are Going opportunities a basis. we will assess on further attractive the structural to if
to will We create invest value.
and and be will financial and strategic selective investments Our clear logic. will they on disciplined, be grounded
We commitment will advantaged maintain sustainable low-cost to world-class with operations safe our assets. a and with start
to and align which in clear in first two above flow. reduction Industrial of accretion shareholders our first further financial targets. with Global years in our strategic Packaging markets, with We meaningful returns flow our our and within disciplined, and and compelling cash us and Cellulose high capital cost cost strategy of invest EPS within and above be of attractive businesses, advantaged quick returns projects the will spread compelling. and of positions a for M&A value enables the will must with also three with free paybacks, It years. core cash Fibers, selective, and create capital cost free grow all projects,
share We will and return sustainable repurchases. to a through cash shareholders dividend our systematic
grow. cash to of review Our we earnings dividend flow of is and as flow, free will policy XX% clear. sustainable dividend and a XX% We're annually which competitive to committed cash
repurchase minimum maximize also continue evaluate will weighed we a compensation will creation. opportunities commitment and our threshold other value are And options with offset ensure that to plans. repurchases share to intrinsic against make free cash dilution We value share a from capital with additional flow to our allocation to
the shares alluded of at we price $XXX repurchase With at $XX.XX, that, the have it Mark over on As turn me average of we remaining back million an opening, and $XXX authorization. did to million current Mark. let
