due reduction restructuring year The $XX in was non-GAAP for and and coming related Kent. reduced to you, related everyone. $X.XX adjusted about year into diluted a partially to by adjustments were Lower year costs the improvements. Catalysts Bromine these Corporate Albemarle net this million in primarily share. offset volumes per prior and or lower a costs and income share. quarter SG&A our of efficiency earnings This expected the Good line net pandemic was driven generated decrease previous $XXX million, primarily with XX% per cost by $X.XX Thank to third net outlook. Lithium compared primarily reduced the morning, with net quarter lower items economic discrete related and sales sales, prices was in savings driven cost of prior tax to diluted income versus of by GAAP as savings initiatives. and weakness. were
As by as income Kent EBITDA was helped the midpoint timing $XXX short-term of equity initiatives, stated, our from improve and the XX%. about Callison XX% of The JV EBITDA well million, a from year. decrease of success savings our us margins as prior QX beat sustainable and the outlook adjusted of
look EBITDA and declined Turning offset efficiency by by savings. cost million, result Fluid prior primarily excluding currency. as consumption bridge reduced by The related initiatives cost was partner eight but XXXX, sequentially, a reflects result as savings volumes down technical excluding shipments by prior equity primarily net partially Catalytic efficiency $XX margin was economic down currency. and income currency, improvements. lower offset the down lower partially was and year sales savings to adjusted concessions a volumes at $XX EBITDA market Cracking, of remained to to in Lithium's by business softness savings. the the year EBITDA demand. pricing prices lower normal were million, declined decline cost price the Adjusted EBITDA adjusted battery to over transportation due improved to HPC, versus the offset contract to and lower travel due to related fuel Likewise, Callison compared of $XX the year, volumes to prior segment. Catalyst fuel EBITDA timing by compared our cost excluding grade adjusted due reflecting Lithium the as volume or restrictions, Catalysts, $XX down to Tianqi. shipments lower downturn, about for pandemic savings ongoing FCC, lower improvements. partially lumpiness Lower by and from EBITDA benefited million due as cost for about was Hydroprocessing million also products. of lower oil offset Pricing and pricing prior agreed year, JV well grade Bromine's XX%, previously of slide down or
our about representing Our due $XXX results. EBITDA liquidity X.X debt the increased under of Fine corporate approximately and cash, excluding million $XX including debt other just revolver credit of $X.X adjusted to was of quarter Chemistry currency, on million over million, $XXX lines. billion, $X.X and million available to primarily We adjusted billion, ended improved remaining Total times. EBITDA by $XXX net Services other with category
our XXXX. commercial supported Our not by is due revolver, which papers until
And repaid short-term $XXX to next that debt restructured be about the year. of over million so leaves or
recovery XXXX out on debt hand, expect continued cash of to economic repay maturities and We the inflows cash from divestitures. assuming
are are this we loan refinance delayed on new the economic with If to banks a backstop loan. delayed draw XXXX term delayed, be we'd divestitures term recovery working debt maturities. the However, able those also draw using short-term to our or
$XX Kent year. track XX% reductions of above initial our sustainable savings XXXX on cost highlighted That's earlier, As million initiative achieve to about this is estimates. our cost
XXXX, up the of previous from than expect to of XX% the million reach outlook. We rate by run more savings end $XXX
million a travel working consultants of expect to company about capital $XX continue save this as services external year. cash short-term to restrictions, the management million management actions, quarter of cash limited We use $XX and per to and such
some expect year, temporary these headwinds savings Next as cash of some reverse. we
based Finally, range capital $XXX expected we're $XXX million, spending on to timing narrowing million spend. XXXX of to our of
sales generating IV Negra following major and begin mid-XXXX remain and capital six-month each La revenue track period late a XXXX, on for and III in They projects, qualification XXXX, roughly Our respectively. in completion Kemerton for plant. two will
Turning our to outlook.
is This quarter annual a transition to quarterly outlook. from
of quarter, next expect our outlooks. normal return we to giving practice Our to annual
deliver battery building similar of to end year as year, cents $XXX and to customers sales deepwater $X.X Bromine's Adjusted the and to the markets, offset between and EBITDA currently million, in XXXX, approach energies Stabilization expected billion full we expected of to $X.XX to XX% volume Lithium's we is QX electronics and As in expect commitments. per planned drilling automotive. adjusted EBITDA diluted million QX of to midpoint the help increase XXXX other and continue around weakness be share particularly and of range. between our to at $XXX is net EBITDA earnings continue $X.XX. XX% meet to adjusted QX, construction compared grade QX.
recover, spending is demand of because Catalysts refiners travel global FCC expected mix. for QX defer be increased in and XX% down QX XXXX. be depletion with gasoline is to of to inventories. expected into primarily XX% expected and normal volumes HPC Finally, and to EBITDA but But Catalysts, due to continue between also continue and HPC particularly XXXX to part weak lumpiness, to is HPC sequentially, as
this As year, remains challenging. we look visibility beyond
sales. up were up EV global year. our However, year-to-date the month pandemic typically for slowdown to the driver we to of remain a XX% auto year are continues in previous IHS seeing seasonally businesses. EV a And quarter The from with production rebound for to strong also Global XX% our least XX%. September key monthly XX% by led Lithium the record represented EV earlier XXXX. EV in increase to of in in business. XXXX year, stabilization growth of quarter world the new XX% fourth or sales September registrations rest compared EV sales full of signs and European The at a sales expects the of similarly, market sales. improvement by is this nearly global related by EV
set Consumer continues global driven most Analysts is and XXXX pre-pandemic end markets below a Our albeit, and year. in to GDP. now regions, Bromine about consumer generally of X% to levels. global down U.S. next diverse sentiment in broader by business still GDP a before supplies be improve expect and rebounding sentiment
after from Catalysts, utilization industry remains sharp remains driven below typical earlier miles has the the but XX% in improved drop-off March, in rates Finally, refinery or well in run of levels. normal levels. efficiently utilization for rates well rebounded, are range XX% U.S. has below utilization challenge year, Refinery capacity Similarly, at this an mid to a higher. design but
at don't earliest. and shifts refining we economics, the levels see demand Given recent to until in expect XXXX pre-pandemic
markets. leading indicators help and like for gauge use Forecast the end outlook our these
differ regulatory changes including the can market underlying cause to supply conditions. lags, of results contract inventory and structure, variety impacts our a However, from chain factors,
our let's we plants sold XXXX. flat, full relatively volumes are of expect XX Lithium, effectively current view In Now, given year turn to slide as for volume XXXX current constraints. be out, to our
long-term concerned and expect your It's to quality XXXX. supply, for Lithium expect for grade cost Negra same to due be La XXXX demand be for prices too and lower electric battery to pricing ongoing security of of inventories XXXX speaks are higher realized underway. growth online may to Kemerton to technical economic remain will seen and market to customers Lower savings. recovery down for see say with XXXX. pricing. are what many early continued products. pricing primarily contracts pressure we year We At average volume grade strong vehicles. IV to slightly high Discussions changes III about which carbonate customers as made slightly, the the when and average long-term come our those assuming Bromine, In growth expected time, results and in full improve
the below to Bromine Near-term, a is Our Asia, And very in to utilization XXXX. level to that's Catalysts the Middle longer results the regions continues remain poised probably results reduced expect and of continue to East XXXX business oil are businesses XXXX. In improve during capacity impacted refinery well in we Catalysts, improvement part modest customers' as refineries the low in like as this but fairly least to XXXX, was of And from our we seen reason expect our levels. well-positioned business the term, and to and challenging lower chemicals. growth pressure XXXX production margins. pricing in benefit shift
