segment everyone. our providing morning, good and before consolidated quarter, I'll for start results Matthew, near-term with an update the the specifics Thanks and financial outlook. on of the
improved increased quarterly Industrial a quarterly the sequentially sequential result of year-over-year, and representing projects, fourth contributed four the record in and $XX in infrastructure revenues pricing sectors. utility quarter largely strongest our improvement to service fourth revenue in Solutions and Matthew and revenues quarter touched utilities growth million, driven quarter $XX were The revenues the on, by years. year-over-year exceptionally results $XX fourth dynamics, and revenue from sequentially of including Product million a million, from demand the margin. and posting in sectors. strength both from demand quarter. in operating XX% from improved industrial sales As utility resulting XX%, an benefited fourth mix including strong Total the favorable Rental robust XX% XX% industrial
see unexpectedly in this So, diverted customers lower items by than disruptions earlier purchase year. delayed the we typically capital to as in QX, chain several was supply utility
the Industrial year, $XXX Solutions spending full increase XX% reflecting chain revenues, Product the of improvement XX% XXXX, EBITDA as $XX the million utility a supply year at in services. in well the and sales X% and year-over-year, the of included adjusted from prior COVID Adjusted improved full margin. For for customer XX% wake patterns, EBITDA in of disruptions generated benefiting activity which year-over-year, as XXXX. the shutdowns a a XXXX, coming pulled back X% in rental from year surge million
weighed by the or of the while Fluid $XXX divestitures, of In the to adjusted multiple result million in was EBITDA was quarter the by business our which X.X% fourth the Systems, This EBITDA divested million fourth segment margin. million effects and a units, a combined operating of a $X.X complicated $X.X down contributed our and revenues quarter. quarter, generated loss million fourth revenues, of $XX adjusted
as gas X% our were X% natural year Africa. experienced regions, across the in downhole elevated evaluate Canada, $X.X of or decline they posted somewhat Cyprus, ongoing X.X% posting sequential as These has their growth margin. income, reduction discovery. in Cyprus, was while as a strongest sequential it's land slowdown region typical as well highlighting quarter increases EMEA program increases in nearly the in markets by The a that losses, successful revenue their of most and as by customer in projects five revenue the million years. in operations revenues, growth offset end primarily drilling key Our paused a improvement driven in operating worth well US $XXX our including that revenue, operating of deepwater Despite million handful Fluids delivered of
pullback X.X% timing In terms the from the mix stronger of activities, from by as the ongoing certain reflects of quarter and actions, the effect quarter of X.X%, pricing margin expenses positive the region. this contribution sales revenues and EMEA were offset modest third operating US of in a
profile, roughly fourth profitability to impact most our capital million and divestitures cash declined the our generation $XX in in While key quarter. seen Fluids net the which employed, notable are by future in the enhancing is
have coming of elevated in were working capital months recovery from another along of the to the with a we US, divestitures, to due of addition, wind-down sight handful retained the payment in customer which through In the on the QX reduction $XX million of in delayed large line DSOs cycles projects.
a employed and as impact compared returns. this coming capital or taken of of in to out in highlights Systems our $XXX reach we which the rate, As capital to our net reduction a more expect driving improved shareholder model XXXX million, XX% levels exit the actions nearly capital-light the than Fluid many months, working
the previous sequential and both of continued a corporate declining a in on sequential the of driven last quarter fourth revenues, basis, year, fourth of a XX.X% are basis, quarter, XX.X% to by modestly from on the largely expenses SG&A improve SG&A the in year-over-year as spending, changes increased quarter. in The in revenues to and percentage but XX% office.
year-over-year, quarter on quarter, have transactions increases interest increase performance-based basis, in sequential of the rates attributable was in half $XXX,XXX through and borrowing were reducing reflective increased reduced corporate a although expense incentives. largely expenses sequential meaningfully While million these year-over-year the XXXX. declined the primarily our fourth QX to both divestitures, benchmark expense. impact $X were sharp higher later throughout on in levels Interest their second And the a fourth debt the quarter completed of
rate facility, X.X%. roughly the at As our end of year, of the of ABL our XX% which debt, US the represents total stood outstanding on borrowing
in operational effective the quarter, $X.XX XX% per share EPS Tax in to performance. the expense stronger million rate. fourth reflecting XX% reflecting improved quarter, the was sequentially Adjusted $X diluted a tax
repurchased with we shares the X% million As Matthew the quarter, touched XX.X our or outstanding during ending year on, million nearly shares $X.X of outstanding.
from of divestiture and of cash working funded the million share $XX million of debt of repurchases, of million $XX quarter. Free capital, business, the US reductions, cash roughly negative reverse we expenditures in capital we the during $XX operations terms wind-down from in in expect million QX. associated modestly $XX which flow, which quarter, In to and elevated generated transactions cash in Fluids ongoing due receivable to DSOs was our flow our fourth primarily
consistent And encouraged with for utilities infrastructure look the to spending, Now outlook. operational the strong divestiture we remain fundamentals the as XXXX. sector, well We as to gas and transactions oil turning by near-term with as our more the we generation. more predictable on operating capital-light and stronger to in Fluids a investment provide focused returns greater agile, flow completed, ability end markets, and with year cash enter free business, a
project Industrial the seeing growth, we volume QX, and In we well expect we in rental both rentals are stronger demand. the are for direct year-over-year XX% positions Solutions, well and in deliver which continued as to direct that opportunity XXXX. solid sales on pricing, as strength us sales, pipeline, encouraged growth For by improvements solid reflecting in roughly
expect our by for change We segment direct the quarter and highlights the the around which fourth service level infrastructure sales. the pipeline of primarily pattern level, expect total revenues revenues typical the activity. rental upon projects, the sequential and rental driven scheduled of achieved Based $XX come to million remain QX, near in $XX in million project we seasonal with in to strength stability utilities
be operating the We result. line XXs range, the XXXX to margin expect our first with fairly in quarter full segment year low in
Fluids, roughly QX we operating level. completed, reported to income the near In the now with pull expect XX%, divestitures with revenues remaining back
uptick expect Africa in offset the Eastern timing to QX, million elevated Europe. region In US eliminated fourth stronger divestitures, quarter addition in the expect driven following customer $XX we also EMEA land contribution following partially revenue through to the the to revenues parts of revenue seasonal Also, by in somewhat QX and we result, of activities the normalize by normalize Canada. of our
detrimental pull We we carry below the expect will the in these total declines revenue to X% expect operating segment the typical mark margin margins, QX. which
of margin we evaluation, phase from ramp expect next QX, XXXX. development to has softness, international we in improvements recover second mix. beyond the our will paused the activity customer Also, while recent by the Looking primarily profile expect for and to up half driven sales in project of Cyprus see in
corporate in expenses the to modestly, remains interest while QX, Rounding near P&L, the effective level. XX% we out remain the declines rate the mark and tax $X million expect near expense
in the solid We benefiting expect wind-down in capital, the including QX the to with from decline reductions generation, working the meaningful since that and point, continued associated our cash nearly borrowings flow generation primarily recent To is QX divestitures, strong quarter, expected first EBITDA start the have the CapEx levels. ABL $XX half while of of our in by from year. declined free first million
to over I'd his concluding remarks. And back call like turn the with Matthew that, to for
