Ascent Industries Co.

Good afternoon, everyone, and thank you for participating in today's conference call to discuss Ascent's financial results for the fourth quarter and full year ended December 31st, 2024. Joining us today are Ascent's Executive Chairman of the Board, Ben Rosenzweig, CEO Brian Kitchen, CFO Ryan Kavalauskas, and the company's Outside Investor Relations Advisor, Cody Cree. Following the remarks, we'll open the call for your questions. Before we go further, I would like to turn the call over to Cody Cree as he reads the company's safe harbor statement within the meaning of the Private Securities Litigation Reform Act of 1995 that provides important cautions regarding forward-looking statements. Cody, please go ahead.

Thanks, Gigi. Before we continue, I'd like to remind all participants that the discussion today may contain certain forward-looking statements pursuant to the safe harbor provisions of the federal securities laws. These statements are based on information currently available to us and are subject to various risks and uncertainties that could cause actual results to differ materially. ASCENT advises all those listening to this call to review the latest 10Q and 10K posted on its website for a summary of these risks and uncertainties. Ascent does not undertake the responsibility to update any forward-looking statements. Further, the discussion today may include non-GAAP measures. In accordance with Regulation G, the company has reconciled these amounts back to the closest GAAP-based measurement. The reconciliations can be found in the earnings press release issued earlier today and posted on the Investors section of the company's website at ascentco.com. Please note that this call is available for replay via webcast link that is also posted on the Investors section of the company's website. With that, I'd like to turn the call over to Ascent's Executive Chairman of the Board, Ben Rosenzweig. Ben, over to you.

Thank you, Cody, and good afternoon, everyone. As we've wrapped up 2024 and are moving into 2025, I'm very pleased with the current direction of the company. Brian and Ryan have exceeded the expectations our board had set for 2024, and we believe the team that they have assembled is capable of executing on the growth plan we're collectively targeting. This quarter was another positive step in the right direction as we reported our fourth straight quarter of successive improvements in our financial and operational results. The stabilization and optimization efforts we implemented throughout the year continue to take hold and drive expansion to our margins in the bottom line. I'll let Brian dive into each segment's details shortly, but we plan to continue maximizing the value of our assets across the tubular product segment while investing in and delivering profitable growth in the specialty chemical segment. We feel confident that we have a strong foundation in place, so we're laser-focused on driving growth while maintaining operational excellence. Looking at our capital allocation priorities, they continue to remain the same from what we discussed throughout much of last year. We have a strong liquidity position with over $16 million in cash on the balance sheet and more than $47 million available on our revolving credit facility. We also continue to repurchase shares in the open market and we'll continue to scrutinize our buyback efforts to evaluate moving forward in larger quantities as the share price remains below our estimates of intrinsic value. As part of our commitment to this capital allocation priority, we recently announced an expanded and extended authorization for our stock repurchase program, allowing us to acquire up to an additional 1 million shares or approximately 10% of the common stock outstanding over the next 24 months. As Brian and Ryan have fully gotten their arms around our businesses, while restoring credibility internally and externally, it's no longer necessary for me to deliver prepared remarks on our quarterly conference calls going forward. I'll still make myself available to stakeholders as needed and don't plan on going anywhere anytime soon. Overall, I'm proud of what we accomplished in 2024 as we turned around our businesses and laid the foundation for future growth. There still is a tremendous amount of work to be done in order to reach our value creation goals, and we're on a mission to consistently deliver predictable and profitable growth. We appreciate the continued support from all of our stakeholders and look forward to executing our strategic initiatives in 2025. With that, I'd like to pass the call over to Brian to provide details on our operations across both segments. I'll be available later on to answer any questions. Brian, over to you.