LSB Industries, Inc. (NYSE:LXU) Q4 2022 Earnings Conference Call February 23, 2023 10:00 AM ET
Company Participants
Fred Bonacor - Vice President of Investor Relations
Mark Behrman - President, Chief Executive Officer & Director
Cheryl Maguire - Executive Vice President & Chief Financial Officer
Conference Call Participants
Adam Samuelson - Goldman Sachs
Josh Spector - UBS
Andrew Wong - RBC Capital Markets
Vincent Anderson - Stifel
Charles Neivert - Piper Sandler
Rob McGuire - Granite Research
Brian DiRubbio - Baird
DeForest Hinman - Walthausen & Co.
Operator
Greetings and welcome to the LSB Industries Fourth Quarter 2022 Earnings Conference Call. At this time all participants are in a listen-only mode. [Operator Instructions] As a reminder, this conference is being recorded.
I would now like to turn the conference over to your host Fred Bonacor, Vice President of Investor Relations.
Fred Bonacor
Good morning, everyone. Joining me today are Mark Behrman, our Chief Executive Officer; and Cheryl Maguire, our Chief Financial Officer. Please note that today's call will include forward-looking statements, and because the statements are based on the company's current intent, expectations and projections, they are not guarantees of future performance and a variety of factors could cause the actual results to differ materially.
As this call will include references to non-GAAP results, please see the press release in the Investors section of our website, lsbindustries.com for further information regarding forward-looking statements and reconciliations of non-GAAP results to GAAP results.
At this time, I'd like to go ahead and turn the call over to Mark.
Mark Behrman
Thank you, Fred. We're happy to have the opportunity to speak with you today about our 2022 full year and fourth quarter results and our outlook for the first quarter and full year of 2023. 2022 was a pivotal year in our company's history. We delivered record financial results with year-over-year increases in sales and adjusted EBITDA of 62% and 117% respectively. We generated strong cash flow a significant portion of which we return to our shareholders through share repurchases while at the same time substantially improving our balance sheet.
Our strong performance reflects the favorable trends in selling prices across all of our products coupled with our ability to operate our facilities reliably and sell all of our production at attractive margins, thanks to our strategic commercial efforts. Additionally, we completed major turnarounds at two of our facilities to further improve their safety and reliability.