AdvanSix Inc.

Good morning and welcome to the Advantix fourth quarter 2020 earnings conference call. All participants will be in this numbing mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then two. Please note, this event is being recorded. I would now like to turn the conference over to Adam Kressel, Director of Investor Relations. Please go ahead.

Thank you, Chad. Good morning and welcome to AdvanceX's fourth quarter 2020 earnings conference call. With me here today are President and CEO Aaron Kane and Senior Vice President and CFO Michael Preston. This call and webcast, including any non-GAAP reconciliations, are available on our website at investors.advancex.com. Note that elements of this presentation contain forward-looking statements that are based on our best view of the world and of our business as we see it today. Those elements can change, and the actual results could differ materially from those projected, and we ask that you consider them in that light. We refer you to the forward-looking statements included in our press release and earnings presentation. In addition, we identify the principal risks and uncertainties that affect our performance in our SEC filings, including our annual report on Form 10-K as further updated in subsequent filings of the SEC. This morning, we'll review our financial results for the fourth quarter and full year of 2020 and share our outlook for our key product lines and end markets. Finally, we'll leave time for your questions at the end. So with that, I'll turn the call over to AdvanceX's President and CEO, Aaron Kane.

Thanks, Adam, and good morning, everyone. Thank you for joining us and for your continued interest in AdvanSix. I hope that everyone listening today, as well as their families and coworkers, are remaining healthy and staying safe. As you saw in our press release, AdvanSix delivered a terrific 2020 with another strong quarter to finish the year. Through the many challenges brought on by the external environment last year, our organization demonstrated resilience, perseverance, and strength of execution as we delivered on our commitments, driving positive sales volume growth, generating higher margins and earnings, and delivering positive and robust free cash flow while also reducing leverage. We maintain continuous operations across our facilities, including the execution of a large plan plant turnaround and successful implementation of health and safety protocols in the wake of the COVID-19 pandemic. to protect our employees, contractors, assets, and other key stakeholders. We mitigated the impacts of COVID-19 through proactive cost and productivity initiatives and ensured we remained in lockstep with changes in customer demand across our supply chain while continuing to invest for growth and improving the underlying earnings power of the business. Our ability to withstand and overcome these challenges demonstrates the resilience and strength of our business model and portfolio diversity as well. The importance of our sustained efforts in building the foundation for long-term performance and shareholder return. I couldn't be prouder of our team. Mike will detail our financials in a moment, but as you can see on the left side of slide three, we've highlighted year-over-year variances for some key metrics in both the fourth quarter and full year. I won't mention them all, but you can see the significant improvement in performance, particularly our ability to generate an 11% increase in net income and $59 million improvement in free cash flow for the full year. Our fourth quarter 2020 EBITDA was the highest we've seen since the second quarter of 2018. As we look forward, we do recognize we continue to navigate a COVID environment. That said, we expect near-term improvement in nylon demand increased ammonium sulfate fertilizer demand through the upcoming planting season, and favorable acetone industry supply and demand balance to continue, while also benefiting from our ongoing investments for differentiated product growth. With our focus and rigor around operational excellence, we are targeting a record year production output in 2021, supporting higher earnings and robust cash flow, while making continued progress on our sustainability initiatives. We have a lot of excitement around our organization and the opportunities that lie ahead. Our strategic priorities remain consistent as we support continued operational excellence and improving through cycle profitability, enhancing our portfolio resiliency through differentiated product growth and mix optimization, and being strong and disciplined stewards of capital. Many have been waiting to look back on 2020 with hindsight. We are taking those lessons learned and momentum we built into 2021 and remain confident in our ability to deliver long-term shareholder value. With that, I'll turn it over to Mike to discuss the details of the quarter.