Mark. Thanks,
to chain the fourth $X.XX full price share our capture well, a limited the latter was Price per benefit compared second We were demand Moving the bridge the ability three positions inventories $X.XX, part which and the to container quarter. strong sequentially. seasonally Supply a board Quarter-Over-Quarter of our realization decreased X, earnings across Volume quarter, as of to earnings share, $X.XX third Slide in in constraints strong backdrop. per operating businesses. on quarter the entering replenished strong us quarter. mix Third the improved by
Fibers Cellulose is solid. business, Our pulp absorbent demand for
shipments pulp backlogs and were congestion, due remain constrained our significant to Our port stretched.
Every quarter. and expenses to in tax the was lower by expense of quarter. essentially XX% stake following adjustments accounted of Most per XXXX to our return provision quarter. after $X.XX were finalizing tight effective more of the transportation we than in an mode our recovery for second XX% costs quarter. Our what tax expect of sale both tax this were one-time by items, was Input environment are well. by rate final Higher is to earnings our in double remain XX% third per Supply million, the fiber of as costs inbound transportation insurance this future. nitrogen year. tight mills third winter for performed the is costs in with Operating to GPK costs in and elevated had this transportation the flat, the energy shipments. to and outbound chains and lower earlier materials about the about for stretched monetization related second federal decreased anticipated quarter, share $XX costs for including expected. million $XXX are Equity credits compared increase. rose of the share, and or of the benefited we the about Corporate related tax sequentially which Maintenance as foreseeable $X.XX storm
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our across by channels shipment year-over-year. X.X% quarter improved Third U.S.
a quarter, the better box inventory part hampered However, enter the supply were position we chains. latter in inventories, strong seasonally across as the replenished in We by system third low box inventories shipments containerboard us fourth quarter. stretched puts and much of successfully our which
supply velocity supply inventory the more given expect plant future, our chains the stretched to network. context, for mill-to-box and us carry the put requires slower across velocity We To to our the remain longer. foreseeable which currently lanes is chain And in a running strong. some look at mix days Taking even flow. than to quarter X price normalized longer X was board our container and third performance,
were of as shipments of and million with inventory, especially Volume flat half impacted America slower third the Our in quarter. representing million the a essentially March XXX of by about sequentially. North by and expected, implemented, were the $XX low decrease. was in Operations $XX containerboard was fully increases essentially realization price costs seasonally first EMEA in quarter. Volume sequential box million lower
costs. OCC. We're Woodfibre congestion costs, on costs box unplanned is rail across XXX% quarter. not Our another mill $XXX winter seeing containerboard store. and transportation was the million plants. risk These system. increased our for at by capacity benefits accounted North accounted Wood XX% at inventory networks. system offset mills $XX our a also XX% closer fiber of look box a our supply In fiber by any around performed quarter. Taking million and providing managing and Energy virgin American fiber, the total. that and wood nearly Input primarily cost mix of we due and Eastern insurance relief quarter, in wet recycled fourth third packaging difficult largely to transportation for again as chain about are our truck across the $XX million third regions, control conditions relief in to proceeds to our the were much OCC and our maintenance XXX the well associated sharply in received needed million constraints. expect limits, the continued inventories as the and quarter and operating with related in inbound conditions, Southern Wood and below we
demand expect relief, cost gradually remain no to generation for OCC We as even improves. with strong
million As nearly tons the consume million X.X EMEA. a and reminder, we tons U.S. annually in in about X.X
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quarter earnings Kwidzyn part are XX longer Sovamo Third operations mill, and in from no our included fourth million the of which quarter. segment this subsidiary
sequentially, million. which for by sequential and mix improved represents remains demand our at solid. our XX% pulp, $XX fluff about price Looking by improved XX of earnings, Volume million mix
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place systems in environment. We manage through to have this
However, chain future. vessel higher foreseeable costs for delays supply and are to the expected continue
Our middles performed well.
related corporate chain costs also and We of by costs were a third quarter, outage supply chemical costs while decreased In input primarily costs the $XX this operations. the quarter. $XX headwind of wood These largely higher credits, in significant offset in benefited of costs. from sequentially, driven export lower higher by for sell and the benefits one-time million, nitrogen were million about items to
momentum delivered on slide Turning of of in third earnings XXX with business Printing million to strong the the ahead Papers spin-off. the eight, quarter
included results Kwidzyn continued costs. quarter sell quarter in August on demand until globally X. Third the the rising and the input recover with realization strong third was Performance outpacing price mill
environment. spin for very pertaining and executing off-take historical as Riverdale full for spin-off to do Georgedale periods. I Papers Global Fiber thank to Sutton with will a teams activity Cellulose Printing business in agreement or treated the our echo the a And discontinued complete, that the forward, be Now the and is be our the Mark Packaging of earnings. a included results going want operation recast will segment challenging successfully previous of in
XX%. Looking of of margin and X, of with to the delivered joint Ilim an equity another venture strong quarter XX on million performance Slide the earnings EBITDA results
to expected price Volume lower fourth outages quarter quarter in Solid the were improve. to by offset volume high pulp due as containerboard is realization for in planned and expected. partially the maintenance
are chains shipping remains stretched. tight and to However, capacity supply China
our the improve to price on packaging, negative to to we backlogs. expect recover export the Slide $XX demand. So a fourth mix price some mix That we'll million by sequentially, impact In strong outlook industrial XXXX we realization and start improve August by to on expected $XX is now quarter of includes as on seasonal million, increase. Volume turn XX. mostly
note the that the to the in flow, the and $XXX and million be to operations costs with proceeds benefiting higher were $XX for costs from with expense to flow-through adjustment costs expected shipping quarter. mostly due outage three partly benefits in across expected by $X third these of stable. we On X from improved $XX packaging, with transactions increase free is with million wood to $XX second and half Fibers, Cellulose energy to of associated from million, are in to of expected higher include Even expected Maintenance down million. the decrease by containerboard cash by million benefits to Input offset by American and costs million, maintenance, we on With on are Printing mix cash third have the that Volume Kwidzyn monetization improve increase sequential set by are captured costs not earlier million Global by expect and fiber taxes price Papers total flow. input is slide, expense spin input quarter of energy. cash decrease a I expected $XX as we non-repeat earnings inventory this onetime and about one-time quarter. $XXX the cash by our transactions million, the North to industrial the In is expected three for are million. system earnings the includes outlook sale segments. the Operations outage Remember regard Staying various our increase Operations to would XXXX are by $X levels, costs. associated third year. days. and our in expected to increase
cash in are free in in cash be quarter. will paid taxes result the fourth the flow However, included majority and the
you I Turning quarter, to allocation on will the a third recent XX, Paper Papers expect actions capital moment following strong a update what from in to International maintain we can will Slide Balance our Sheet. then. the you take and
debt by X.X billion. target As brings a EBITDA we X.X times previously X.X said, of we on quarter, In below debt $XXX the to stated reduction basis. million, third the Moody's which our to year-to-date debt reduced our we're leverage comfortable taking
very will the XXX of end this this we're We performance additional with also pension, year. repayment an million of the month. of complete Taking our debt a by at pleased look plan
month, of de third feel actions the average billion. which X.X at through and plan. about $X funded, a Board our Our plan price shareowners the repurchase taken and improve we've quarter, total fully of an shareowners earlier an dividends which returned authorizations good Share additional billion performance, is Returning available we allocation repurchases $XXX really raises shares to $XX.XX. and Also to qualified program, share capital to X.X we part the share were this million, represented meaningful framework. is cash -risk approved of the repurchases. $XXX to about million million pension our In Directors
to We is XX% time. the Earlier our annually on the a that business year. to policy for this not the does business. month, of in With Papers of when last competitive will a spin-off proportion Papers execute generation. the We're dividend to flow to will essential earnings XX% This cash maximizes generated regard sustainable of the authorization share manner to the change. as continue excellence we is free value XX% which by a and following shareowners we adjustment continue outlined to we we grow. $X.XX cash dividend Investment our and with well to to and announced flow, XX% review cash committed decreased X.X% that dividend, earnings by from spin of annually cash payout as growing over per below previously
in capex $XXX to a contract expect is more environment. than less the delivery We plan. XXXX Primarily, to equipment our challenging due be of and million, timing original which labor around
ability proactively continue manage circumstances if capex pull or and to will have back increase the We warrant. to
profitable capital strategic to can up capability to and You needs our expect business growth. packaging build to drive deployed be capacity mostly to
Any packaging America we We M&A it of And and turn for over potential with focus North selective will assess to accelerating that must M&A and in shareholders. on can growth. primarily opportunity continue profitable We disciplined expect Europe. value be to supplement, opportunities to goal Mark. will compelling I pursue bolt-on our to opportunities our our business, and back
