Innospec Inc.

Good day and thank you for standing by. Welcome to the InnoSpec third quarter 2024 earnings release and conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1 1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, David Jones, General Counsel and Chief Compliance Officer. Please go ahead.

Thank you. This is David Jones. The earnings released for the quarter in this presentation are posted on the company's website. During this call, we will make forward-looking statements, which are projections about future events. These statements are based on expectations and assumptions that are set to risk and uncertainties that could cause actual results to differ materially from the anticipated results implied by such forward-looking statements. The risks and uncertainties are detailed in aspects 10-K, 10-Qs, and other filings with the SEC. Please see the SEC site and NSFAC site for these interrelated documents. In today's presentation, we've also included non-GAAP financial measures. A reconciliation to the most directly comparable GAAP financial measure is contained in the earnings release. The non-GAAP financial measure should not be considered as a substitute for those prepared in a qualitative GAAP. There are included as additional items to aid investor understanding of the company's performance in addition to the impact that these items and events had on financial results. With me today from Minnespec are Patrick Williams, President and Chief Executive Officer, and Ian Clementson, Executive Vice President and Chief Financial Officer. With that, I turn it over to you, Patrick.

Thank you, David, and welcome everyone to InSPEC's third quarter 2024 conference call. Overall, this was a good quarter for InSPEC, with results broadly in line with our expectations. Performance chemicals and fuel specialties delivered double-digit operating income growth with margin improvement, while oilfield services continued at lower activity levels as expected. Performance Chemicals operating income was similar to the first two quarters of 2024, and we expect comparable performance in the coming quarter. Our target for 2025 remains to return our operating income run rates and margins to full-year 2022 levels. We continue to expand our industry-leading portfolio of 1,4-dioxane and sulfate-free technologies. Supported by our formulation expertise, we will deliver the value and performance that our customers require for their next generation of products. In addition to growth and personal care, we see a broad mix of multi-year organic opportunities in our home care, agriculture, and other industrial end markets. Field Specialties deliver double-digit operating income growth with improved gross margins, which remain within our target 32% to 35% range. With a steady demand outlook for heavy transportation fuels over the coming decades, our focus continues to be on cleaner and renewable fuels along with lower emissions. Our technology pipeline will drive opportunities in both fuel and non-fuel applications. As expected, oilfield services continue to be impacted by lower activity in our Latin America business. We currently assume these lower levels will persist through the end of this year and into 2025. Our team remains focused on multiple growth and margin improvement opportunities in our other oil field segments, which we expect to drive sequential quarterly growth in 2025. Now I'll turn the call over to Ian Clemson, who will review our financial results in more detail. Then I will return with some concluding comments. After that, Ian and I will take your questions.