Consolidated revenues improved 7% sequentially to $152 million including 11% improvement in Fluid Systems.
Consolidated third quarter EBITDA generation was $4 million, which includes $4 million of charges associated with Hurricane Ida as well as costs associated with restructuring our U.S. Fluids business.
While the third quarter was impacted by the typical seasonal slowdown in T&D project activity, the seasonal low was largely offset by a $4 million increase in site access product sales, reflecting the benefit of our expanding presence outside of oil and gas.
With a modestly lower revenue and shift in mix, our Industrial Solutions operating margin declined 18% in the third quarter, generating $13 million of EBITDA.
Year-to-date, we generated $108 million of site access revenues from the power transmission and other industrial markets, which puts us on a pace for nearly $150 million of revenues for the full year 2021, a 25% improvement from our previous high mark.
Total segment revenues improved 11% sequentially primarily driven by strength in the Canadian market as well as our other international markets.
In North America, revenues improved by 14% sequentially to $71 million, substantially all driven by the Canadian market.
U.S. revenues remain in line with prior quarter with modest improvements in land activity offset by a $2 million weather-related decline in the Gulf of Mexico.
International revenues improved 6% sequentially to $37 million in the third quarter, with our expansion in Asia Pacific being the primary driver of the improvement, while certain areas in the EMEA region continued to be negatively impacted by COVID-related restrictions.
As another sign of the international market recovery, I'd like to highlight that we received a five-year award in Albania from Shell Oil as they look to return to drilling activity in early 2022, which we believe will generate roughly $5 million of revenue per year.
Total revenues for the Industrial Solutions segment declined 3% sequentially to $44 million in the third quarter.
Site and Access Solutions business contributed $42 million of the segment revenues in the third quarter including $28 million of rental and service revenues and $14 million of product sales.
As discussed on our August call, the third quarter was impacted by the typical seasonal slowdown in T&D project activity, which led to a $5 million decline in rental and service revenues following the strong Q2 results.
This decline was largely offset by a $4 million increase in revenues from product sales, benefiting from our expanding customer base in the utility sector.
Industrial blending contributed $2 million of the segment revenues in the third quarter, in line with prior quarter levels.
With the modestly lower revenues, the Industrial Solutions segment operating income declined by $2 million sequentially to $8 million, contributing $13 million of EBITDA in the third quarter.
As highlighted last quarter, the Q2 results included a $1 million gain associated with the enforcement of our patent rights.
Comparing to the third quarter of last year, revenues from the Site and Access Solutions business increased $13 million or 46%.
This increase includes an $8 million improvement in product sales along with a $5 million or 22% improvement in rental and service revenues.
Through the first three quarters, the power transmission end market contributes more than half of our Industrial Solutions segment revenues, while our historical E&P market activity accounts for less than 20%.
Total segment revenues improved by 11% sequentially to $108 million in the third quarter primarily driven by improvements in Canada and other international markets.
Revenues from U.S. land increased 4% sequentially to $51 million, reflecting the benefit of the 11% improvement in market rig count as our market share remained relatively stable.
Revenues from the Gulf of Mexico declined by $2 million, contributing $6 million in the third quarter, largely reflecting the weather-related impact on our customers' operations.
In Canada, revenues nearly tripled sequentially to $14 million in the third quarter, meaningfully outpacing the market rig count improvements following spring breakup.
International Fluids revenues improved 6% sequentially to $37 million in the third quarter, with our ongoing expansion in Asia Pacific being the primary driver of the improvement.
As Paul touched on, with the sequential revenue growth in the third quarter, we saw continued progress in returning the Fluids Systems segment to profitability, although the $4 million of charges related to Hurricane Ida and our ongoing cost actions largely offset the improvements, keeping the Fluids Systems reported operating loss flat sequentially at $7 million for the third quarter.
On a year-over-year basis, our Fluids Systems revenues increased $40 million or 59%.
International revenues improved $12 million or 47% year-over-year, benefiting from new project start-ups and the recovery of customer activity in several European markets and Algeria.
SG&A costs were $24 million in the third quarter, which includes $7.5 million of corporate office expenses, reflecting a $1 million increase from the prior quarter.
Comparing to the third quarter of last year, SG&A costs increased $3 million, including a $1 million increase in corporate office expense.
The year-over-year increase in SG&A primarily reflects higher personnel costs including higher incentive expenses in the Industrial Solutions segment and Canada as well as the $1 million increase in corporate office expense.
Interest expense remained stable at $2.2 million for the third quarter, nearly half of which reflects noncash amortization of facility fees and discounts.
Our weighted average cash borrowing rate on our outstanding debt is approximately 3.25%.
The third quarter includes a $2 million income tax expense despite reporting a pre-tax loss.
Our reported net loss in the third quarter was $0.11 per share, which included $0.04 of charges and compares to a net loss of $0.07 per share in the second quarter.
Reported net loss in the third quarter of last year was $0.26 per share, which also included $0.04 of charges.
Cash used in operating activities was $12 million including $14 million of cash usage associated with a net working capital increase.
Investing activities used $6 million of cash in the third quarter, substantially all of which reflects mat rental fleet additions in preparation for fourth quarter rental projects.
It's worth noting that through the first three quarters of 2021, investments in the rental fleet totaled $13 million, the majority of which replaces mats sold from the rental fleet as part of our standard commercial offering.
Consequently, while gross capital expenditures totaled $19 million year-to-date, our net capital investments are only $7 million.
We ended the third quarter with a total debt balance of $94 million and cash balance of $31 million, resulting in a modest 17% debt-to-capital ratio and 12% net debt-to-capital ratio.
Our net debt increased by $20 million in the quarter, largely reflective of the elevated receivables as well as the additional capital investments to support our Industrial Solutions growth efforts.
We also purchased $10 million of our outstanding convertible bonds in the open market during the quarter, resulting in a small loss on extinguishment of debt.
We ended the third quarter with $24 million outstanding on our U.S. asset-based loan facility.
And after providing for the $39 million convertible bond maturity next month, we have $42 million of remaining availability.
In total, we expect Industrial Solutions segment revenues of roughly $50 million, with the level of year-end demand for product sales being the greatest variable.
With the anticipated Q4 performance, the Industrial Solutions segment is expected to deliver more than $190 million of revenues for the full year 2021, just shy of our 2019 results, while also generating more than $60 million of full year EBITDA.
This comparison to 2019 highlights the successful transformation in this segment as the strong revenue growth in the power transmission and other industrial end markets is expected to substantially offset the more than $50 million decline in annual revenue derived from the E&P sector as compared to 2019.
Also, with the December one maturity of our remaining $39 million of convertible bonds, we expect interest expense to step down modestly in Q4 then level off at roughly $1 million of quarterly interest expense in 2022.
Total net Capex for the full year 2021 is likely to come in around $10 million.
As I reflect on my 15 years as the company's President and CEO, I'm extremely proud of all we have accomplished and the unique culture we have created.
While there is never a perfect time to retire, I believe the time is right, having turned 65 earlier this year and with the executive leadership team in place to continue on Newpark's journey.

Summary:
Our reported net loss in the third quarter was $0.11 per share, which included $0.04 of charges and compares to a net loss of $0.07 per share in the second quarter.