by million Thanks, for fourth good XXXX, Systems relatively X% our in before line our And the and finishing sequential morning revenues X% reflecting year-over-year. of X% rig everyone. of U.S., segment I'll revenues generated the $XXX decrease U.S. begin flat were discussing operating consolidated total third $XXX with details segments, the Paul. the results. a in quarter and from Fluids In increase The million, with the quarter count. a improvement of sequentially
of make the million over start year-over-year the XX% reflects the outperforming line year-over-year, Canada, pullback the of relatively market we the reflecting U.S. $XX delayed this have roughly conditions, continue count. benefit our experienced with As into revenues meaningfully basis, Canada's we with projects market rig industry Gulf sequential XX% XXXX for year-over-year reduction first XX% On in fourth Mexico an in rig sequential line challenging count. expanding revenues of improvement In declined average period. in rig meaningful the were on, in the share, XX% as average XX% which were XXXX. from XX% a although, quarter increased decline quarter, a the of in improved to deepwater Despite comparison touched count, shell revenues progress as QX, penetrating market, the of the QX Paul
year-over-year primarily year-over-year revenues our $XX Kuwait wind quarter, Eastern reflects the international relatively from flat current regions, in impact were Turning prior Kuwait, in Petrobras and in and contract anticipated comparison concluded of Australia growth project in which to quarter by and the time America, Fluids the Romania primarily activity. for a expected the the fourth project quarter. in across $X.X broad offset December. the in the fourth for Petrobras the to at down declined in region somewhat income million, declines revenues segment to third largely from On in region, On services from the million, Operating consisting sequentially million sequential in $X of basis, levels. by improvement integrated contract by based in fourth Hemisphere with million Hughes Albania. was a The of unchanged and quarter, improved Hemisphere lower markets Germany relatively by notably $X attributable revenues primarily the the other from X%, were offset most quarter These the Algeria revenues in the Algeria. Baker declines Australia. consolidated Brazil, Latin basis In came the benefit Eastern
the fourth of costs. includes charges, employee quarter As million highlighted in severance primarily press and $X.X yesterday's release, reflecting related
facility. Texas quarter’s related quarter in charges, restructuring to we As and call included third primarily last at Brazil the the discussed Kennedy of fire also million our $X.X
related additional fluids current operating headwind these improve necessary in expand long-term segment investments and continue As margins. believe our are profitability. to however provide to business We strategies, total a our reminder, solution investments a which fluids cost modest in our total the market our addressable to we to carry Fluids
Turning to Mats the business.
revenues reflecting service for part which primarily well segment rental demand reflecting as sequential demand to T&D demand the third driven As for exceptionally our and more the heavy year, at margin XX% to of weather the on, attributable by as strength in million a market, in quarter the million The compared sequential Paul improved from strengthened the and to to The U.S. rainfalls utility were total last quarter $XX the touched sequentially million rental Comparing continuing rental improvement quarter. improvement. sequential Mats sales record Meanwhile, benefited strong Southern utility came Overall in by quarter, $XX industries. driven was the fourth in The result impact service XX% which of margin from for revenues customers, other direct into the which revenues included year. a doubled was fourth Mats year-end to quarter sales The services, also representing large expansion sequentially, than in timing sales, strong sales, quarter XX% for quarter increased and $XX as pressure into as throughout from increasing last fourth improved reflecting stronger revenues an primarily market. for is related Mat the operating fourth well the robust of of utility T&D by segment for well the the strong in and largely XX% the and as activity. the fourth improvement. segment quarter, Mats pumping X% XX%, Mats as segment
results. $X.X both turning our costs million, X% year-over-year. were in XX% and Fourth severance representing revenues quarter Now includes approximately a quarter, $XXX the prior to charges. and increase fourth from quarter in SG&A improvement year. quarter relatively million consolidated a last Fourth with last XXXX million were line of the quarter of SG&A quarter fourth $XX
retirement provision tax income effective fourth with from expense, fourth additional approximately previous included bonds for is of million quarter year. year. includes with retirement for $X.X The bonds. $X.XX primarily of in compared compared quarter with reflecting to million was expenses filings. $X.X the income tax was Net fourth to million, million share, convertible increase million fourth rate year. prior third $XX.X in to Form $X.X was quarter the diluted in and an continuing quarter quarter, quarter million in operations prior the The XX%. fourth September were fourth $X.X interest for for for interest Interest the associated charge. the million quarter attributable million our quarters, described compared of the $X.X the our as $X.X associated $XXX,XXX the to X-K on our our quarter Total the last corporate of fourth $X.X The in third in per the quarter last office the the million quarter last the fourth non-cash the payment of interest of $X sequential in quarter and $X.XX million general the in quarter expense of recent costs $X.XX $X.X convertible While third quarter Consistent GC included counsel. expense
quarter, operating operations, with flow, in million used which $XX $XX from to from investments the cash cash to Turning decrease business. million $XX capital. net activities along fourth cash expenditures quarter, generated which of million $XX the of Capital included the in majority Mats in was million was used in working the fund
the year $XX largely Arabia. million, of investments a within the and resulting We ended borrowings. our totaled a quarter facility in $XXX Substantially balance of in of debt capital and to in used million, the net of million debt with facility foreign fourth of the reflecting financing addition, including remains Fourchon ratio XX% In reduction cash a to fluids $X completion our million XX%. million infrastructure balance $XX bank ratio $XX Saudi activities debt CapEx capital facility included cash subsidiaries. the of Cash and total hand on Port total net a blending in of all
announced million, Directors structure. our optimize authorization repurchase of which us provides to excess to quarter, Board As expanded last share our and added use capital the $XXX cash flexibility our
fourth subsequent XXX,XXX under under quarter, to While, trading a million were plan during XXbX-X share no repurchases year-end purchases we completed plan there this of shares. the $X purchasing
of primarily the the million Now revenues recur. through similar remain do impact largely progress as to expect we operating the an the benefit lower fluids not business, a by QX $X.X we international be driven in should XXXX, transitory From by income perspective, we expect units. in revenues QX as offset will charges, that general turning softer which of as territory the margins from to in the be modestly our near-term, In expect near-term we outlook. will declines although, strengthening we see the
as markets, the expect severely fairly typically by project deepwater we the region, land seasonal strengthening the projects QX. prices, will the revenues, Looking impart QX. impacted to track strength well our two be expect we in of the general outlook by issues, counts. Canadian the impact in is The the contract modestly by takeaway more lower of while America see U.S., transitions. offset impacted Shell near-term continue seen Internationally, which at start to temporary closely we stable across North driven rig is largely expect revenues by continues a broad-based we in market the limiting remain delays which oil in to overall Meanwhile, unfavorably with volatility as recent the to
quarter Specifically, this we now activities in also we expect new to is in Kuwait in begin delays expect Algeria while the new declines as as underway, the transition to the certain contract awards. see we continued
of Although completion we recent forward. the although it IOC expect in full with new the some revenue take based deepwater on plans surpass Also, opportunities the Kuwait infrastructure run revenues run we the will the market will place, time Petrobras levels on maintaining the the going to are contract, the Brazil support from hit to currently in achieved contract. Brazil previous we awards rate, decline, for rate key to personnel expect ultimately and
Turning both demand well services. to in that the we previous as levels strong as from orders will related customers, other utility following quarters. direct fourth return of large year-end drove QX in from the revenues rental sales strong and QX of strong as to the from Mats extremely number well customers, timing as a demand weather The quarter benefited segment, result, spending the seen expect
of significantly sales resulting in quarter, fourth Mats back record to With pull QX. sales we expect level direct in the the
to ongoing extreme in although show Northeast are activity. and We and will year-on-year the the the cold services in expect continuing temperatures growth, volatility completions rentals monitor we
XXXX. expect low-XXs expect near-term. considered, segment expect office CapEx margin regard currently be this to the remain at With stable to level, this to expenses Corporate we With in range. operating All revenues we’d segment capital likely relatively of revenues modestly be low-XXs the range. the total should lower we in than in expenditures, XXXX
base investment as operations. rental the will variables expect and for based Northern on significant flex near-term to timing $X business, As the well we as we capital Kuwait of to requirements in levels Mats where which we a investments, support our XXXX we to outlook, second most to believe approximately support construct of be expansion plan invest million utilization to continue the
for the we call that, our to to tax his mid-XXs. effective Regarding remarks. expect with rate, I’d concluding the be to rate like And back low turn to in over Paul
