5/6/2022

speaker
Anthony
Conference Call Moderator

Good morning, and welcome to the Advance 6 first quarter 2022 earnings conference call. All participants will be in listen-only 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 1 on your telephone keypad. To withdraw your question, please press star then 2. 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.

speaker
Adam Kressel
Director of Investor Relations

Thank you, Anthony. Good morning, and welcome to AdvanceX's first quarter 2022 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 with the SEC. This morning, we'll review our financial results for the first quarter of 2022 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 AdvanSix's president and CEO, Erin Kane.

speaker
Erin Kane
President and CEO

Thanks, Adam, and good morning, everyone. Thank you for joining us and for your continued interest in AdvanSix. As you saw in our press release, Advancix delivered robust first quarter performance to start 2022. I would like to thank our nearly 1400 teammates who delivered outstanding results for one another, our customers, and our shareholders. Our collective organization contributed to generating record sales, earnings, and margins in the quarter. Across the various value chains we participate in, we continue to see rising input costs and industry supply tightness at a time when demand overall remains robust. Our integrated business model, including our unique competitive asset base, pricing mechanisms, and leading customer positions across a diverse set of end uses and applications, is core to our ability to execute and navigate in this environment. Across the board, it was a terrific start to the year as we sustained the momentum we've built. We also continued to enhance shareholder value creation as we deployed a significant amount of capital in the first quarter with a combination of our increased CapEx investments, acquisition of U.S. Amines, sustained dividend, and opportunistic repurchase of approximately $7 million of shares. The acquisition of U.S. Amines was officially closed on February 24th and I am proud to say that the integration is progressing well, and we are excited about the future opportunities for the combination of our businesses. As we look ahead, our outlook remains favorable. We continue to target significant earnings growth and robust cash flow in 2022, supported by disciplined execution to our integrated business model and expected robust ammonium sulfate fertilizer performance in particular. We cannot always predict what the markets will do. However, we are highly focused on executing our strategic priorities and what is in our control. We remain confident in our ability to deliver robust and sustainable performance and attractive shareholder returns over the long term. With that, I'll turn it over to Mike to discuss the financial details.

Disclaimer

This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.

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Investor presentation