up through morning, important good a supplier some Innovation was earnings cost, consistent ethylene given year X% spot Slide XX%. up growth per we our And the EBIT prices with Key on of costs and to last material with discussed we mix growth results comments Thanks, and XXXX these performance on today. And higher weaker remember our gas business improvements relative off current months, nine despite low results, increased Texas. disruptions revenue share raws it’s million Thanks X. long-term Through were the year our up and at few delivering start us $XXX was environment, dollar. that industrial historically quarter, price strong X%, strong U.S. to investments our was performance in volume months, to were was delivering our resulting our Day. and successful the strategies third from improvement first Mark, generation higher specialty nine I���m with going full time a the for spending and through raw and to in products, our and cash distribution everyone. this
to you oil more U.S.-China our in all inventory attribute drop normal business felt of was the and the quarter this additional trade challenging the prices beyond in as in related seasonality know. became saw plus We rapid we ended, quarter third this the other destocking given As fourth through issues, we some that environment raw markets, and mainly destocking materials.
the the we Brent a year-over-year had we in destocking, beginning normal shift. still mostly a given specialty With we October, we will in better believe quarter already issues evidence seasonality but what sell due And above negative today, we the therefore material patterns into challenged progressively of of get the time in On distribution quarter. the is expect earnings faced our especially raw amount million quarter quarter were our raising know progressed. third we’re said, to The inventories. prices, costs we products, harder as that in drives result order flowing we drop fourth large $XX the that first mix China, we and higher had in that fourth occurring sequentially expecting, where which is seeing our results largely through XXXX. given improving than were And more the quarter the
dynamics showed volume our segment growth premium the X, and Materials, Advanced of products the quarter. in XXXX, fourth which first offset Slide nine results strong specialty in mixed Now with some on by months through I’ll start growth short-term
sales increased raw paraxylene market, the the volume from architecture the than at improved sales and quarter, offset EBIT year segment. due primarily to towards and auto, interlayers higher windows fourth was mix product in and to improved we represents mix, the product declining in X% in Materials in higher by strong in architecture to we performance markets. months which year, increased mix, auto volume less in material breadth growth four are global the due the films in of destocking and the under costs, architectural for higher particularly Full-year their sales the Looking and last partially across growth of grew And year. destocking volume revenue dispute. advanced investments faster both seeing inventory material performance Despite at inventory market fourth normal of trends both of and the improved to XX% as films the higher than mix due interlayer result by a full products. commercial due and offset revenue volume level the for mostly innovation sales due as to auto the positioned to in In raw segment decreased trends interlayers created costs, Europe serve. EBIT just well plastics million which In due sales, and decreased trade by U.S.-China specialty customer we benefit Advanced approximately are uncertainty particularly the grew to customer more China. of sales volume in economic partially full $XX quarter, lower now
strong of growth. XXXX, ahead expect Looking to the year full we
destocking have to our in in orders improved While we persist business. the specialty inventory first expect plastics impacting some January quarter, sequentially,
growth We into temporarily through step-up face margins in we to first in will a headwind XXXX. the costs impacting in coming the also inventory, cost expect as not higher And flow paraxylene same quarter.
be EBIT moderate, the high Advanced final expect it to issues those we of the three growth return to provided to the Materials in at Innovation together, X% Advanced of Putting the XX% anticipate all growth we quarters Day for As XXXX. robust Materials range end the year. at to
X, & into – Additives Turning Products. Advanced slide now to Functional
For the increased volume in coatings strong in prices Higher higher & offset Chemicals, currency foreign sales X% increased primarily nutrition foreign sales investments selling exchange by favorable due volume Full-year tire due Functional volume growth currency rates, growth million. rates. additives. animal Care was Additives to to for shift increased approximate additives, higher attributed and to a partially $XX full and Products favorable and sales exchange revenue of sales a in EBIT shift higher volume, year,
by offset – sales raw distribution in prices higher currency played growth were were year few due through was exchange selling earnings than an For to fourth months nine out flat costs. factors that rates. higher in offset declined by unfavorable material, revenue the strong quarter, prices as the simultaneously. first the offset decline EBIT EBIT foreign of was and fourth energy quarter The which more the in shift as higher was
segment the and coatings these to as Europe within China average. in products mix, and destocking have product First, tires margins higher on weighed relative
limit material Second, to dynamics while capacity costs higher and through our the and quarter flowed higher investments in of inventory competitive oil-based lower adhesives utilization. third continued raw in upside impact growth third, the pricing, from
we expect inventory Looking ahead work higher raw to in to material through XXXX, quarter. the first way continue costs their to
we to orders, and tires quarter. we destocking in a the While in still in first see expect some pickup coatings continue
the end expect as the same of destocking of become to to at Day. Products expect in, X% EBIT tailwind, & Additives year, raw and All grow X% we For to the plays cost return provided to Innovation as low headwinds year. materials don’t a the out last at we balance the anticipate Functional growth range we
Intermediates, eight in Next Chemical which challenges numerous to overcame in XXXX. slide
were a to declined low an selling inventory, raw higher offset increased for sales through mitigate higher market partially from partially higher creating due spread the the partially flowing material, to costs quarter selling due For distribution merchant Full-year as year, across spot Volatile offset prices our an the still prices materials EBIT raw higher by more energy rapidly segment quarter, between was had mostly than offset costs EBIT increased headwinds selling as in ethylene. improvement increased we prices. by In volume ethylene revenue volume costs declined the lower materials to and were impact disconnect merchant prices, in to historically sales as took in lower raw fourth derivatives short-term prices. full attributed offset actions revenue dropped sales to by while pricing. ethylene. by and due the sales
XXXX. a the year, we full in will of For repeat not expect headwinds couple
in with do merchant segment with products supplier to First, XXXX. we be second, completion reviews with on industrial of we’ve repeat with RGP some similar largely in XXXX and in netted these softening XXXX. us headwind olefin EBIT the to were expected project. to with lead have ethylene acetyls Chemical some Fibers. Intermediates in lack mitigated up large of derivative And Slide not headwinds Finishing a gas expect the expect XXXX, our The outages the X
higher capacity in was due sales related products, products full utilization sustained continued non-woven to non-woven growth in innovation to higher and in growth quarter. and volume, The selling these to the destocking were XX% sales revenue prices Tow growth is at textile how continue in lower quarter, a primarily for of lower are volume to textiles relatively products products the reported to is EBIT innovation increased previously volumes sales product Textiles reported lines innovation offset volume year, great inventory textiles in due partially volume these demonstrating In due to volumes year-end in products primarily sales in to the acetate product decline XXXX. flat the other. declined stability tow Looking other. segment. the strong growth EBIT due by innovation higher year. were the volumes. revenue increased story, contributing previously fourth
Now XXXX. a few comments on
First, sight of customer good patterns order fairly this we have into line business. in
we We last also tow U.S. from our tow quarter in shipping into associated to the some into impact not discussed the are qualified Korea China plant China from mitigating of with shift
$X.X due expect from imports in activities over few tow which the year, in decline target other partially operating same to from patterns, as in from different transition continue the we All the stabilize the benefit Slide billion came years, and On to into to corporate free to customers. $X.X the and be first financial offsets XX, compared expect to in for attributed and with China about approximately XXXX be XXXX But EBIT past we gradual builds buying expected rebuilding in textiles is customer quarter that stability the growth lowest close XXXX. was highlights. cash some volume added We in, market. quarter tow tow Cash to throughout to tow flow billion. strong I’ll
ability We convert BA, of management and manage demonstrate Eastern value converting into capital. teams. our continue team working to The and the cash credit our especially into earnings to earnings knows cash our cash,
consecutive over stockholders a and We say in to our we’ve repurchases conversion increased dividend And cash in returned I’m through our $XXX XXXX. proud the flow year. As free that, dividends. result, XX% XXXX to million was share ninth for
the we’ve the previous rate XX% from better improved Tax got from Reform full XXXX year tax Our effective to Act. our outlook, as on clarity impact
expect in we of our fully be I the XXXX. growing cash. to we’ll that but range. I that our be a cash disciplined tax XXXX, dividend, XXXX. of to the repayment, acquisitions. a bolt-on various with of and buckets. effective we’ll in repurchases billion expect expect cash bottom work between that to deploy XX% greater We’ll always into $X.X and Looking rate our extent XX%, Share hard expect I use towards I than flow across free to absence than end you, remain have remind be our lesser debt would And should
deck Finally, back I’ll of modeling analysis. Mark. further the slide the slide over turn in help this to With that, it don’t to your you miss appendix in
