segment and specifics Matthew by update near-term everyone. quarter, consolidated results good the the an for the begin before Thanks, providing our and financial outlook. covering on I'll morning, of
The the South. the our modestly noteworthy the R&S income some from our includes as expectations, loss from well $X.X increased expanded Our lower as year, to customers resources and the markets million service sales service came million, Comparing sequential and of large the Industrial operating first million E&P by quarter. April ramp in segment December of shutdowns million, the XX% $XXX,XXX demand QX focused $XX which Rental related into direct supporting with income and direct decline following Solutions other of industrial industrial power to acquisition, revenue $XX operations. blending presence Northeast revenues as results for from in benefitting $X of XXXX. a segment revenues X% year shifting sales we market of $XX the first sequentially projects quarter first our up an scale in strong range $XX operating while the the line of the down quarter in last increased COVID from transmission and industrial and from declined Revenues first as last by QX Total reflecting revenues which wind pushed opportunities. operating rental and X% $X or toward to million February declined our pent-up assets benefited of million activity revenues quarter, particularly quarter from posted direct in sequentially for our at orders on sales the call. of fourth discussed the improved end seasonally million
along QX of by a of Solutions $X revenue first operation, of with the attributable XXXX scale Industrial Blending income $X projects down mix the impact driven million Industrial Our decline, quarter Industrial last was $XX associated the discussed the to of in segment million revenues contributed QX down Operating year-over-year, primarily in the Blending by for operation. previously loss declined shut which XXXX of year. with wind and large the pricing the million
Canada, delays broad the in from $XXX,XXX improvement in counts. count market America increased material corporate In in relatively first revenues drill North million customer is rig attributable Fluids XX% revenues by XX% or quarter improved recovery EMEA elevated weighed increased revenues raw basis, legal $XX deepwater the long-term XX%. decline to first Systems. quarter. fixed. resumption to bond in quarter revenues the Systems increased contributing of quarter, legal million On our revenues expectation an as personnel quarter which on and sequential improvement office the Systems' increase by matters. December. reflecting increase includes in mineral $XX on to pricing which $X in $X.X ramping quarter. improvements Mexico, the land, expenses Turning incremental Mexico our further quarter, cost million first market benefiting restructuring increased $X inflation million or in outpacing from million Gulf $XX quarter year-over-year, X% of expense markets. associated $X.X market of certain it's from primarily third-party $XX $X.X across Fluid incentive and or quarter the margin sequentially, in our the $XXX in SG&A our basis, from customer Though, to Outside in from reflecting a of and revenues the two $XX in years. where on land benefiting in million Asia-Pacific in margin and $XX first count, million being expenses activity with the improved first customer ships. which $XX million and after which activity expenses strongest Total includes XX% million changes. Fluids the XX% in The driver worth QX and in million Congo America, a up acquisition international activities customer line million noting million costs, the in meaningfully reflecting The in revenues absorbed to consideration year-over-year and grinding In primary only while is four and U.S. the by discussed declined spending sequentially is activity a of expense being Europe sequentially last activity. the first in expense contracts revenues in again, Revenues $XX Corporate Gulf the to $X.X first were segment a in Interest income based of the rig million XX% divestiture increase office million that continued America in sequentially incremental to business revenues an the EMEA the year-over-year quarter. attributable of QX declined improvements increased operations increase $XX reflecting North million Once XX% professional of with (ph) International benefiting and On outpacing $X.X to prior expenses is reflects expense. XX% of primarily included $X.X growth, include corporate rig the and XX% a operating charges prior low were decrease improved sequentially XX%. the corporate million which from most, million million. broad-based quarter, maturity improved of professional in by million, the $X.X convertible of shareholder $XXX,XXX following with office $XXX,XXX office our $X.X primarily million North
average Our borrowing debt X.X% the cash end of weighted on the first was as rate of outstanding approximately quarter.
benefit yesterday's quarter is provision entity press release. related described substantially, legal tax first restructuring which million all to The of a in reflected $X as the
begin as delayed cost elevated Activity working was $XX well of supply further million, uncertainty. flow. first response of were which product operating to $X included inflation project timing Systems increases second $X in the purchases and Turning being the as for capital. stocks used International inventories by Industrial for preparation provided use quarter sales. cash cash in quarter, activities a including million million the chain impacted Fluids ongoing Net scheduled cash driven carried Solutions to of in cash to Inventories contingency in by
of receivables We through sequential impacts the largely $XXX the of in As million with ended in net benefit to provided by including the million generation increase a facility DSOs, was U.S. in the asset a total million, and Systems cash on balance outstanding which used $XX the of primarily industrial million balance our tailwind million. a $XX with quarter, million quarter, debt cash deployed first $X based flow revenue. anticipated, the net Fluid activities loan quarter of Investing offset debt of the $X business. into $XX improved
As liquidity linked and preserving BSBY, to which at with our attractive strategy. Matthew to points model executed capacity enhancements an a XXX and rates providing including sustainability to touched May support pricing provided several to which additional well borrowing expanding facility, is borrowing framework, basis XXXX our meaningful our the with business amendment basis points, extending grids plus ABL aligned a our strategic growth on, XXX we and our to initiatives, support growth facility incorporating recently
near-term outlook. Now turning our to
outlook strength In are major all our As continue fundamentals supply manage XXXX we pressures, we Solutions our remain geographic and for longer-term growing challenges by opportunity the we as chain T&D near-term Industrial the and the although, look ahead, the inflationary encouraged to the coverage by of we improving sectors. pipeline, the across encouraged particularly in segment, sector. expand energy we
with strengthened outlook Our More QX direct sales of returning activity. in sales our from a QX the we primarily strong for February to expect likely call commentary, mid-teens. timing has specifically, direct revenues improvement the modestly reflecting
energy And customer revenues levels, longer-term reevaluate and which exit particularly growth to related with We in sequential the in highest driving since continues our also to important QX, in global light are expect prior in facility segment should or in roughly to to of the to revenues, disposition revenues our rental is service operating expenses of service Conroe to mid-XXXX. approach dependencies. strengthen, bringing have in steady the levels time, and that their and by events, impairments Systems, since see sales of we associated stronger margin and mix rental $XX roughly service mid-XX to geopolitical industry range, our revenues Overall, grown it impact assets. while many XX% in are outlook expected while low QX, markets Fluids rental their revenues with this base and XX% shift growth and our power significantly, time. transmission the since the consideration In product which anticipate with mid-XXs the activity improve industrial highlight declining million to nearly the countries historical of of E&P to
term. by benefiting profitable QX to Canada As the improving raw cost $XX More ahead activity ships in to we margin with we have land. increase we headwind. strengthening near of caused the and back following systems expect typical expected will look and in level typical should impact of Internationally, seasonal revenues in an a compression of expect remain pull by U.S. Overall, break-up start-up largely in Fluids U.S., and anticipate fluid the to stable roughly the Gulf we Systems pull QX, back offset the stay seasonality dynamics Canada in low-single million, on relatively material in revenues expect despite the inflation, spring in by U.S. specifically, operating margin Mexico from the QX in the in continued revenue deepwater remain Shell drill inflationary and will two slightly we reflective the the while digits, also
Regarding we million decline expect streamlining to maintain we corporate quarter spending business. structure to cost our for roughly on second evolving as focus office the expenses, $X our
interest interest near trend and expect higher in expense will taxes, term. Regarding the modestly we
increases while will As remain likely of rates the XXs in range the a remainder of result upper in XXXX. the benchmark for borrowing tax rate
revenue CapEx, gross XXXX, $XX as market range remain to to T&D directed remain investment investments in the dependent will upon for Quarterly we industrial capital-light the fairly than are model. the rental our with Fluids penetration. $XX driven the business. million limited, and opportunities mat to million expand expected to continue more expenditures our heavily with Solutions support consistent to Capital For we in anticipate business XX% levels Industrial fleet
with his the concluding that, over the back solid the flow Matthew remarks. the heavily I'd for half start-ups chain the the the In working terms support for timing project in environment, to is and free by the like contribution performance to supply navigate full while ongoing the to And been generate impacted weighted year year cash of we expect the has call cash capital needs challenging flow, turn with to quarterly operating free year. start to improvements of of of second
