good quarter and into lower for quarter, the In we X, recorded QX everyone. Slide billion sales year offset let's of by quarter. specialties the and billion $X.X same in mark-to-market $X.XX, principally Kent, $XXX volume jump was Beginning across by year-over-year held losses our Thanks, compared primarily growth. on a period partially was XX%, driven Adjusted performance. morning, net decline of $X.X our margins first to the Adjusted prior $X.XX. pricing pricing, energy on XXXX, sold charges restructuring securities levels.
Diluted excludes which when last was storage at significantly down or peak EPS million, year diluted equity from EPS EBITDA and businesses negative public and were
was Our pricing, decline compression driven our mostly on earnings by storage segment. especially lower energy within margin
venture. spodumene favorable sold pricing. spodumene equity some These at had growth, the primarily recorded sales factors and due margin lithium timing goods flowing and cost we joint of partially through of also we reduced volumetric higher Additionally, Talison and at to by earnings hydroxide, offset were cost carbonate pressure
primarily Also, sales by increased the EBITDA, net and Ketjen business driven volumes. recorded higher
year Talison built higher-priced JV. Storage income Spodumene due to million and inventories Looking primarily related $X.X timing driver. quarter, in related of and goods by the from $XX Energy of lower at was lithium to $XXX million in periods equity prior cost both billion decline adjusted down Compared Slide X, to in EBITDA EBITDA sold we'll quarter first Specialties, to pretax in company's break pricing the prior the our
spend. as storage technologies better projects $XXX were Ketjen and energy and in as restructuring manufacturing the and environment. our well benefits volumes as including current of This market declines to our clean areas, and delivering improvements to due million multiple procurement, across to productivity net volumes mainly $XX of improvements team's million fuel improvements demonstrates volumes productivity on higher agility these related higher at ramp back-office and Offsetting continue focus
Turning to Slide X.
historically did last we outlook ranges based quarter, are providing As we scenarios. lithium market pricing on observed
We X rate expectations. last here published are our reaffirming are count updates to tax our There share outlook quarter. considerations and notable related
price scenarios adjusted mix. updated of We reflect as rate tax our range of effective our are to expectations geographic as updating the income guidance well lithium
our tax lithium expect XX% At price higher we'd in P&L. expect more the range. $XX mid- we'd pricing, scenario, in the high typical expense rate a At benefit tax modest a to
have $X.X billion adjusted our count stock share preferred accounted reflect the in for change public diluted to also We convertible offering. mandatory the
Slide had this year, and constrained to highlighted provide X, considerations. some Moving color flow to operating cash where drivers. conversion some provide on previously flow those we additional cash our that would be We want I
to our expected below historical for here, conversion in flow be reasons. XXXX see you As cash is X averages
Talison in First, JV. progressing plant or from its CGPX is resulting the dividends expansion chemical-grade lower
lithium to related our capital release be plants Kemerton, at and new to offset Qinzhou. by expected for capital lower pricing investments Salar Meishan, working is working mostly Second, Yield increased
mix. is similar Third, Cash to year, tax jurisdictional primarily to expected last be reflecting
have estimates period. midyear year-over-year. For higher earnings pay And to in example, expenses Australian finally, will we we the expect based on from interest year cash prior taxes
outlook. provide I'll X. Slide further details to on trends in Turning each segment's
storage. First, in energy
spodumene We our continue price Year-over-year, in discuss index be toward XX% the to will contracts. to high of our timing volumes agreements be X/X X/X expected growth sold trending approximately our and sold Kent of energy is referenced by still short-term to to expect volume variable expected on XX% storage range, of project sales. driven XXXX on remaining including which The ramps events, recently a end of the volume is purchase moment. bidding announced
to year ramp cost costs. equal, offsets improving anticipate increased the due lower else volumes continue expect new of We through half All second the facility we year the ramp to to in expansions. spodumene of continue year-over-year the margins our being as
However, variance quarterly EBITDA some Talison to due in the and of margin timing we shipments. expect
XX Specifically our to a JV. from in of offtake expect partners margin points Talison higher about at EBITDA the QX, by we lift our
Next, on specialties.
Our challenges, we oilfield for electronics, by services, notably of bromine in outlook improved applications. at our we consumer higher in modest site costs in manage second year pharmaceutical as Furthermore, and expectation the logistics half anticipate continued softness through the regional of agriculture, recovery Jordan. We and partially offset reflects seeing solid sales in pricing the specialties. are demand in on end market higher
end now range. outlook specialties Taken adjusted to of expect we be the the lower toward together, EBITDA
turnaround the are we Ketjen, of program. at Finally, seeing building our success
driven high refinery In in primarily strength, expect volumes QX, increased clean and volumes the We seen end businesses XXXX. we utilization. higher in have each about Ketjen by are of optimistic technology market fuel across
Turning to Slide our position. and financial XX
end market As as quarter, Albemarle's you this we and enhance our the dynamic stock navigate March, further a financial to action of stay cycle. know, preferred we took to we ahead offering market maintain during and mobility, public position closed mile $X.X conditions. competitive flexibility rating in In solid a credit down fortify trends investment-grade of Together, as billion position secular discussed we on to well with put connectivity, in our the amended and growth finish actions credit invest these energy, capitalize the in health. core projects markets last as expansion Albemarle in we see our and facility a February,
resulting larger-than-normal quarter our the in improved repaid of complete offering, outstanding a use with ended our balance, primary will and paper, leverage. commercial Following that We be the in-flight capital cash cash projects. to we the
our market in and control. Our management to controlling the balance adapting things changing sheet on conditions highlights our focus
you've Finally, turning in to We'll reminder selectively priorities growth that allocation Slide touching patient before, to invest a we're it disciplined. XX of will slide a our high-return be capital but on for our seen capital allocation is continue and This briefly and not changed. to priorities. have acknowledge
cost will Our near-term expect preserving with on to remains ramping and that financial aligned assets and actions our our you full and productivity contribution, operational improvements, can our flexibility. be focus driving execution,
industry full we for the our boost environment. cash flexibility. we prudent financial the rightsize enhance the taking spending the long steps ability focusing we and believe most to managing our lithium steps capture ramping taking future, our cost and to growth the plants prices capital and reinvest flow are for are are to While in current term, grow to and of support To contribution current and structure, to our on volume unsustainable
to that, back Kent over proactive With on is taking provide to details and to more Albemarle value turn current the preserve long-term market I'll actions the it in growth creation.
