AdvanSix Inc.

Hello and welcome to the Advance 6 fourth quarter of 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 one on your telephone keypad, and to withdraw from the queue, you may press star then two. As a reminder, this conference is being recorded. I would now like to hand the call to Adam Kressel, Vice President of Investor Relations and Treasurer. Please go ahead.

Thank you, MJ. Good morning and welcome to Advance Six's fourth quarter 2024 earnings conference call. With me here today are President and CEO Aaron Kane and Senior Vice President and CFO Sid Mandeshwar. This call and webcast, including any non-GAAP reconciliations, are available on our website at investors.advancix.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 will review our financial results for the fourth quarter and full year 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 Advancix's president and CEO, Erin Kane.

Thanks, Adam, and good morning, everyone. We appreciate you joining us here today for our quarterly call. As you saw in our press release, Advancix achieved commercial success and advanced our key growth programs in 2024 while navigating operational performance that did not meet our expectations. It was a testament to the resilience of all our dedicated teammates, focused on delivering financial results and shareholder value while remaining committed to continuously improving our health, safety, and environmental performance as we recovered and learned from our challenges. We continue to benefit from our diverse product portfolio with strong performance across our ammonium sulfate and acetone businesses. Robust market acceptance of our annual ammonium sulfate pre-buy program also supported strong cashflow performance in the fourth quarter resulting in positive free cash flow for the full year. This past year, we funded key growth in enterprise capital investments, including expansion of our granular ammonium sulfate capacity, returned cash to shareholders for repurchases and dividends, and maintained prudent debt leverage levels. As we move into 2025, we are well positioned to support our strategic growth priorities and we continue to focus on making the necessary investments at the right time to support our long-term performance. Lastly, I'd like to provide an update on two key developments on which we've made significant progress. First, we reached final settlement reflecting our ongoing efforts to recover losses associated with the 2019 PES community supplier shutdown. This included $5.3 million of insurance proceeds in the fourth quarter of 2024, and a final omnibus settlement in the first quarter of 2025 of approximately $26 million. In total, we have received approximately $39 million of aggregated insurance proceeds since the 2019 event. Second, as one of the largest producers of ammonia along the East Coast, We were pleased to be one of the first industrial companies to be recognized for carbon capture through an approved lifecycle assessment, enabling initial 45Q tax credits of $9.7 million claimed in the fourth quarter. We both use CO2 as a feedstock in downstream products and sell to customers for beneficial reuse in various applications. Our initial credits were for the 2018 and 2019 tax years, and we continue to pursue credits for subsequent periods. Both of these provide tailwinds from an earnings per share and cash flow perspective entering 2025. Now, let me turn the call over to Sid to walk through the financials.