LSB Industries, Inc. (NYSE:LXU) Q2 2022 Earnings Conference Call July 28, 2022 10:00 AM ET

Company Participants

Fred Buonocore - President of Investor Relations

Mark Behrman - Chief Executive Officer

Cheryl Maguire - Chief Financial Officer

Conference Call Participants

Rob McGuire - Granite Research

Operator

Good day, ladies and gentlemen, and welcome to your LSB Industries Second Quarter 2022 Earnings Call. All lines have been placed in a listen-only mode, and the floor will be opened for your questions and comments following the presentation. [Operator Instructions]

At this time, it is my pleasure to turn the floor over to your host, Fred Buonocore, President of Investor Relations. Sir, the floor is yours.

Fred Buonocore

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 to you today about our 2022 second quarter results and our outlook for the balance of the year. But first, I'd like to take a moment to acknowledge our Founder and former Chairman and CEO, Jack Golsen, who passed away this past April. Jack's first priority was always his family, but after that, LSB was his creation and its fourth child. He was a highly successful entrepreneur, but more importantly, Jack touched many lives and was a very generous person. Recently, Jack told me he was very happy to see our team turn LSB around and prosper, and he believed that we had a bright future. Our goal every day is to make his belief a reality and we are grateful to have the opportunity to be a part of Jack's legacy.

Turning to our 2022 second quarter as summarized on page three of our presentation. We had an eventful quarter and once again delivered record top and bottom line performance. The strong results were driven by the favorable pricing environment for our products that we capitalized on with solid execution. I'd like to thank our employees for making this another excellent quarter and for their strong commitment to improving and growing our business and doing it safely. As a reflection of their hard work and contributions, our market capitalization is now much higher than it was at this time last year. And as a result, in late June, we were pleased to be added to the Russell 3000 and 2000 Indexes.