Arcadium Lithium plc

Good afternoon and welcome to the first quarter 2024 earnings release conference call for Arcadium Lithium. Fall lines will be placed on listen-only mode throughout the conference. After the speaker's presentation, there will be a question and answer period. I will now turn the conference over to Mr. Daniel Rosen, Investor Relations and Strategy for Arcadium Lithium. Mr. Rosen, you may begin. Great.

Thank you, Mark. And thanks to everyone for joining Arcadium Lithium's first quarter 2024 earnings call. Joining me today are Paul Graves, President and Chief Executive Officer, and Gilberto Antoniazzi, Chief Financial Officer. The slide presentation that accompanies our results, along with our earnings release, can be found in the investor relations section of our website. Prepared remarks from today's discussion will be made available after the call. Following our prepared remarks, Paul and Gilberto will be available to address your questions. Given the number of participants on the call today, we would request a limit of one question and one follow-up per caller. We'd be happy to address any additional questions after the call. Before we begin, let me remind you that today's discussion will include forward-looking statements that are subject to various risks and uncertainties concerning specific factors, including but not limited to those factors identified in our Form 10-K and other filings with the Securities and Exchange Commission. Information presented represents our best judgment based upon today's information. Actual results may vary based upon these risks and uncertainties. Today's discussion will include references to various non-GAAP financial metrics, definitions of these terms, as well as a reconciliation to the most directly comparable financial measure calculated and presented in accordance with GAAP are provided on our investor relations website. And with that, I'll turn the call over to Paul.

Thank you, Dan. Hello, everyone. This marks the first completed quarter for Arcadium Lithium as a combined company following the closing of the Livent Allchem merger in early January of this year. Since closing, we've taken a number of important initial steps to create a truly new company. These changes will allow us to deliver on the significant benefits of the merger that we previously discussed. As a result of multiple integration steps taken, including headcount reductions, procurement renegotiations, and organization realignments, we are on track to achieve our targeted $60 to $80 million of realized synergies and cost savings in 2024. We began as a new company with solid first quarter results, delivering $109 million in adjusted EBITDA, As we will discuss, our multi-year customer relationships and the wide range of high-quality lithium products we produce allow us to reduce the overall volatility of our earnings while maximizing the value per unit of lithium sold. You can see the benefits of these factors in the pricing we achieved in our lithium specialty products businesses and in our combined hydroxide and carbonate average realized pricing in the quarter. We will discuss this more shortly. The company is bringing online significant additional production capacity this year in line with our previously announced plans. and is expecting a 40% increase in combined lithium hydroxide and carbonate sales volumes for the full year. Beyond the production coming online this year, we will provide additional details on the next phase of our expansion projects that will result in an increase of our total capacity to 170,000 tons on an LCE basis in 2026. This is over four times our production levels at the end of 2023. I'll now turn the call over to Gilberto to discuss our first quarter performance.