AdvanSix Inc. (NYSE:ASIX) Q2 2024 Earnings Conference Call August 2, 2024 9:00 AM ET

Company Participants

Adam Kressel - Vice President, Investor Relations & Treasurer
Erin Kane - President & Chief Executive Officer
Michael Preston - Senior Vice President & Chief Financial Officer

Conference Call Participants

David Silver - CL King
Charles Neivert - Piper Sandler

Operator

Good day. And welcome to AdvanSix Second Quarter 2024 Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Adam Kressel, VP Investor Relations and Treasurer. Please go ahead.

Adam Kressel

Thank you, Chad. Good morning, and welcome to AdvanSix's second quarter 2024 earnings conference call. With me here today are: President and CEO, Erin 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.advansix.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 with the SEC.

This morning, we will review our financial results for the second 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 Kane.

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, we delivered a strong second quarter, with year-over-year improvement in sales, earnings, margin rate and cash flow; and a return to targeted utilization rates across our integrated value chain. This performance reflects our collective organization's focused execution to capture commercial benefits and the advantages of our business model and diverse product portfolio.

We realized a 6% improvement in sales reflecting higher domestic nylon volumes, a robust domestic application season for ammonium sulfate and continued strength in acetone pricing. Our disciplined capital execution continued to support long-term performance and growth including SUSTAIN, our Sustainable US Sulfate to Accelerate Increased Nutrition program.