Stepan Company (NYSE:SCL) Q2 2024 Earnings Conference Call July 31, 2024 9:00 AM ET
Company Participants
Luis Rojo - Vice President and Chief Financial Officer
Scott Behrens - President and Chief Executive Officer
Conference Call Participants
Mike Harrison - Seaport Research Partners
Dave Storms - Stonegate
Kevin Holder - CL King and Associates
Operator
Good morning, and welcome to the Stepan Company Second Quarter 2024 Earnings Conference Call. During the presentation all participants will be in listen-only. Afterward we will conduct a question-and-answer session. [Operator Instructions] As a reminder, this call is being recorded on Wednesday, July 31, 2024.
It's now my pleasure to turn the call over to Mr. Luis Rojo, Vice President and Chief Financial Officer of Stepan Company. Mr. Rojo, please go ahead.
Luis Rojo
Good morning, and thank you for joining the Stepan Company's second quarter 2024 financial review.
Before we begin, please note that information in this conference call contains forward-looking statements, which are not historical facts. These statements involve risks and uncertainties that could cause actual results to differ materially, including but not limited, the prospects for our foreign operations, global and regional economic conditions and factors detailed in our Securities and Exchange Commission filings.
In addition, this conference call will include discussion of adjusted net income, adjusted EBITDA and free cash flow, which are non-GAAP measures. We provide reconciliations to the comparable GAAP measures in the earnings presentation and press release, which we have made available at www.stepan.com under the Investors section of our website.
Who are joining also online and over the phone, we encourage you to review the investor site presentation. We have made this available at approximately the same time as when the earnings release is issued, and we hope that you find the information perspective helpful.
With that, I would like to turn the call over to Mr. Scott Behrens, our President and Chief Executive Officer.
Scott Behrens
Good morning, and thank you all for joining us today to discuss our second quarter 2024 results. I plan to share highlights from our second quarter performance and will also share updates on our key strategic priorities, while Luis will provide additional details on our financial results.
The company reported second quarter adjusted EBITDA of $47.7 million, up 4% year-over-year. Global sales volume was also up 4% on a year-over-year basis. We saw strong volume recovery across most core markets, except for weakness in the agricultural market due to continued inventory destocking and lower Phthalic Anhydride volumes due to operational issues at our Millsdale site.