AdvanSix Inc.

Good day and welcome to Advancic's first quarter 2024 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 a touchtone phone. 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, Vice President of Investor Relations and Treasurer. Please go ahead.

Thank you, Cindy. Good morning, and welcome to AdvanceX's first quarter 2024 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 way. 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 will review our financial results for the first quarter of 2024 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 King.

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, our first quarter performance was impacted by the previously announced process-based operational disruption at our Frankfurt, Pennsylvania site, along with a delayed ramp to targeted utilization rates across our integrated value chain. The total unfavorable impact to pre-tax income in the first quarter was approximately $27 million, comprised of the impact of lost sales and other additional costs. including purchases of replacement products and incremental plants spent. This disruption was fully resolved in the first quarter, and I would like to once again thank our customers, partners, and teammates for their collaboration to mitigate impact on the value chain. Looking ahead to the second quarter and remainder of 2024, there are a number of operational and commercial tailwinds at our back. We return to targeted plant utilization rates and are well positioned to serve our key customers, particularly in plant nutrients as the domestic planting season progresses and in our acetone portfolio amid a tight global supply and demand environment. We also expect nylon industry spreads to modestly improve through 2024 off 2023 trough levels. Critical to our stakeholders, importantly, our customers, I'm proud to share that in recent weeks, we've achieved a number of external recognitions for our corporate social responsibility and sustainability performance. We earned our third consecutive platinum rating by Echovatus, received strong ratings by CDP for water security and climate change, and were certified by ISCC Plus across our manufacturing sites at Frankfort, Holwell, and Chesterfield. We had a proven ability and demonstrated playbook with our diverse product portfolio to navigate and manage through various cycles and macro dynamics, evolving as we go to meet the needs of our end markets. As a diversified chemistry company, we take pride in our long legacy of success and track record of serving as a trusted partner for our customers. We'll continue to position our business for long-term sustainable performance through our smart and disciplined investments and remain focused on accelerating growth in the most profitable areas of our portfolio. And let me turn the call over to Mike.