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Let's results. unpack our first quarter
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end unfolds, charges decrease half. during recovery anticipated the and As the we these second will next quarter expect
end At working which $XXX.X our million compared $XXX.X at XX, financial Let's XXXX, reduced low COVID-XX totaled of A XXXX, markets. the or at March $XXX.X from reduction of with of a position. working the million our a of our of end to reduction. our at end match managed year. resulting the activity talk we impact XX% million capital included quarter about This In XXXX, stood couple first levels the in on March comments. million this $XX.X million $XX.X inventory, capital
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finish in the some over expect a and be of was begin EBITDA and received will will to quarter, the fourth third operations XXXX. for this capital We The the $X.X into positive quarter. million $XX spend crucible still improvement commissioning We and million integrated about million quarter work, year. first quarter. in this a plumbing Adjusted electrical $X.X
the million during XX% XX, debt about strategy term management cash year. At the over loan or was million, has past total downturn reduced Protection including $XX under the debt $XX.X Payroll March a Our Program.
this for forgiveness PPP We term of have loan. full applied
million amending the quarterly facility is of agreement increases enhance its Jackson conjunction agreement will $XX million quarter short-term credit acquisition the seller financial the the also with approximately $XXX interest agreement our credit a loan impact repaid and The took facility amendment, restating the a includes credit The North and the growth of unchanged. The $XXX million with current our to $XXX,XXX based term fees initiatives run steps note by during remains and lower of expense Amortization through strategic financial asset revolving We associated of our agreement. and five-year new support of In March on to company million. our net new basis. facility. flexibility new obligation $XX XXXX. long-term
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me long-term The increase that products. about pricing. OEMs resources and was X, benefit fourth quarters. March of by alloys. on implemented and increase to more change price all mentioned Effective to approving holding a technical one base supply Let a the on last benefit new I product for add new critical XXXX orders is our time we upgrade have in slowdown afforded XX% suppliers that word should of X% third
the in out We new year be offering excellent that be alloys continue growth to rolling future opportunities. three optimistic fall this we'll premium
markets. end the on minutes of couple a take Let's
XX% or an were quarter. of sales of of first quarter aerospace Our $XX.X in over the million sales XX% XXXX, fourth the increase
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of Universal, XXXX confidence positively rest defense our distributed, with The are to travel demand. continuing service opens, overall as For builds we’re with be strong trending customers the for center and order improvement of increase. build seeing looks the easing demand vaccines by rates commercial entry along outlook destocking still
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and than in adjustment due Our sales decline heavy to our they’re to includes first as last disruption or in share in general by and sales production to the loss. the quarter buying manufacturing third any semiconductor in inventory if rather markets. year, The category customers, fourth industrial of market quarter the industrial the well was to semiconductor medical our sequential as general general
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million has demand X% million XX% things X% quarter. not Our to segment Power increased with sales been certainly of the sales bit sales $X from the of market lumpy generation first fourth in compared and quarter the or changed. $X.X in have always a or
quarter Although, there first the were lower XX% XXXX. of than
GE levels. levels were most know, the recent of in case in worth climate quarter, remains have half not out spreading critical change noting has the accounted by in As yet are energy many normal interrupted for did pandemic uptick of for demand driven high you our in noted underlying an and plant the third activities reduced recovered further that previous by in It’s carbon just the maintenance in In gen the gas first and We with unchanged. the maintenance along the XXXX. emissions to but customers U.S. expect power maintenance sales XX% address coal although of new emissions with pointed of the that of for power in pick that average U.S. maintenance the are meantime, years, on to gas role turbines transition has from to coal. coal We switching sector line XXXX, gas by gas. efficient a work our to its U.S., we that awaiting general eventual up pickup market their turbine the has the GE line of economic activity. – largely since see
to things get to your Let up questions. me wrap
will trauma the to from While COVID recovery road induced markets time. to major our take the some
quarter order fast in growth, first increases broad-based Our off price gets growth and base a announced spiking performance March. double-digit sales to entry, us start with backlog
cost first to costs opportunities as pound, in meet gross even with the $X.X products to develop absorption quarter poised financial are in activity we activity ramp. and and and goals. per lower working first as anticipate continues posting continue while necessary ensuring eliminated these approvals million the nearly our fixed operating evidenced be management, our recovers, half second are improving earned, We capital margin second levels grow quarter as controlling lastly, a higher quarter will operating to improvements, sales be seize notable The charge by ramp, breakeven, during to strategic our the spending, to and market productivity charge. market and reducing new the production customer As the flexibility tightly our rapid
improvements from the the over as operational year, now to achieved we forward to initiatives. consolidate is plan as well past strategic growth the our move with gains Our
the Our by focus half re-melt will XX-ton North a year. of are our second and our is arc Jackson adding in an capability expanding the The facility. and vacuum completed be premium production projects during crucible alloy furnace underway commissioning
Let lending and shareholders the hard entire facilities, the our of would been work board. of of our not and me continued progress and institutions our dedication team underscore of all our support customers, the guidance without at have possible that our
on We concludes That of the ready are fully to rest we’re the remarks. further Operator, during progress focused making formal take any year. our questions.
