LXU - Earnings call transcript Q4 2024

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Operator

Greetings, and welcome to the LSB Industries Fourth Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Fred Buonocore, Vice President of Investor Relations. Thank you.

You may begin.

Fredric Buonocore

everyone. morning, Good

includes materially. are projections. Officer; today results factors Damien differ our and future current a today's Chairman our based and statements Joining the performance, are on Maguire, Mark cause not our could to Executive company's call that note Cheryl Commercial expectations and of statements. Chief Chief actual These Chief are and me intent, Officer. Please Behrman, forward-looking They Financial variety Renwick, of Officer; guarantees

On will the see section statements Mark. for the we I'd non-GAAP the press of the to time, regarding this of information like lsbindustries.com, turn Please call call, results go results. over non-GAAP reference results. At and to website, release to forward-looking Investors in reconciliations further GAAP and our ahead

Mark Behrman

Fred. you, Thank

our to X Turning of presentation. Page

performance despite of was volume adjusted during A year's which fourth EBITDA increases Our last operations, of and both increase versus fourth XXXX. to significantly the as had key quarter and was our this of strong sales the up year. a turnaround production turnaround improved ammonium no nitrate of quarter nitric driver acid compared planned performing year-over-year the

XXXX. the During plant facility We continued we fourth invest and expect to the to we facilities. production that the of during safety at increased our completed in volumes of quarter, turnaround Cherokee a reliability ammonia our to lead

for and UAN injury-free. highest the injuries our benefits seeing turnaround the XXXX site fact, with their of that for work at are Cherokee X urea production on We completed in daily record. with levels year. And that We recordable finished rates

value. now to had no year for at facility of the recordable our these Matters Baytown is injuries. nitric Additionally, an ninth injury-free corporate congratulations What acid of Protect year exemplifying both facilities teams Big its our on and

efforts in discuss advance our Lastly, which call. our we the energy transition later projects, continue X to I'll

pricing dynamics Now will who review I'll market Damien? over call the trends. current turn and to Damien,

Damien Renwick

summarizes X our everyone. morning, end good markets. and some Page industrial in key Mark, Thanks, dynamics

XXXX business offtake. The covered to majority focus our core for of and beyond. be ratable commercial strategy arrangements are industrial Our vast with sales continues a under contractual of our industrial

our plus results. motivation margins attributes pricing to of us visibility cost side enhance stable into provide will These the with and believe typically future which industrial accrue to business, our value underpin ultimately industrial Additionally, arrangements our of grow contracts utilize that our company. the we our our

end our have production to meet continue increasing We benefit from sales markets up from contractual successfully to to our commitments. industrial been ammonium have ramping volumes nitrate of healthy we specifically, More our been new demand solution primary and it. meet

In by supported broader production supporting for encouraged healthy applications. Gold U.S. we terms the the copper copper and be strong as highs, at economic also production. which driven by are prices continue gold record electrical continues of continued global pricing technology build-out by to to of market, mining uncertainty, infrastructure be is

India. our robust key acid, translated summer homebuilding, current fill. increased existing steadily market Our the in for A solid also in since and years, of X position. Notably, been strong highest and dynamics. housing since continued in in sold-out demand have primary level customers constraint and and other economic demand rise despite category, and their opportunities prices prices, the demand summary Page conditions. On of UAN our driven performing new demand persistent with Pricing presentation, being well. find you'll the industrial strength see picked we by product primary stable, in growth been factor has nitric been our to and homes new with have XXXX, a to high acid interest while production not Auto for XXXX rates, robust, stable have urea for up remain several by from early capacity. a starts nitrogen business driven part into production which particularly December remained nitric our has for steady

Additionally, UAN trade recent history. compared where balance benefited to remain low imports U.S. from favorable a pricing

we price landscape, with spring coupled corn fertilizer As enter encouraged a marginal are prices rising levels. stimulant tightening healthy winter ammonia of acting prices weather with in translate higher in and The by seeing tight the as gas strong Europe driven combination domestic year potential UAN will by Tampa the increase remains ongoing geopolitical of middle a the price ago is strength cold fairly XXXX capacity instability for European which for relative we're The continues year natural shows is what European of on demand and, for into ammonia. The likely production is natural including European demand. the be we're pricing. The gas planting in Ammonia That, to in supply, season, ago new supply This demand factors, Benchmark impacted driving East for price Hub. Henry balance. significantly levels. including Europe, production above commissioning trend TTF result factors, the to and by chart numerous gas Tampa higher U.S. delays in a than costs and more Middle the storage. depletion of the prices higher a price recently, resulting

grain per competitive USDA's natural over to relative U.S. we the ago small of stocks revisions supplies corn business. which producers. On apply to are Page U.S. other for nitrogen forecasts show fertilizers. continue advantage our we reduced prices, pricing incentivize compared prices that have estimates. Heading grains, healthy a producers prices than also and to agricultural bushel, spring believe and for which level should to months While U.S. farmers a gas year into are called X, to ending outlook a which season, levels, their of higher for earlier drive and level past several the planting corn ammonia corn trends is to material close reaction $X in European prices rose

to by customers. We're also impacting markets. major both to India fertilizer to implemented, foresee ag other tariffs This be nitrogen to considered several recent passed tariffs following Finally, introduce U.S. Canada we in end divert nitrogen impacts the be sourced our the believe U.S. Russian likely impacts and on to a to increases U.S. on on from volumes on implemented, Parliament Mexico related the are before markets, we and closely industrial broad-based proposal with fixed exports European proposal will European potential from Commission is Canada developments Belarus. markets. retaliatory this If by monitor including the rate be likely products Russia encourage continue our tariffs to Should also producers in cost have imports import to of tariffs will adopted. and we to it pricing announcement

to to discuss fourth Cheryl? quarter call over Now and our financial our results the Cheryl I'll turn outlook.

Cheryl Maguire

facility's benefited adjusted in and impact prices of million. $XX see EBITDA that material On and financial $XX the XXXX a of to completed volumes lower our gas despite over This positive approximately is million the EBITDA a December. Page to Damien, us our period. Notably, quarter completed prior quarter volume work operations. we costs impact financial million. These during fourth improvements bridging million. turnaround, we Page of sales from morning. adjusted XXXX sales Thanks, reflect XXXX fourth adjusted EBITDA our improve during the reliability, ammonia the good plant excluding plant results Cherokee ammonia XXXX impact from provides of We the year an quarter X, turnaround our X estimate Stronger of of some Cherokee $XX higher color million adjusted manufacturing generated our quarter fourth at planned natural results $X quarter results. would improvement estimated you'll fourth in the EBITDA we that fourth our the have $XX our quarter-over-quarter to summary been by

We further cash key will metrics. balance progress provides sheet and discuss front flow on expect summary XX of a I to this in as make XXXX, our shortly. Page

and time, cash year-end below Our strong, ratio well our capacity Much with a reliability At of target to made year the of we've facilities operations. in the investments for the leverage in pricing million our capabilities. for flow CapEx significant $XX the reliable of balance was $XX remains our same was reflected expansion, as in balance as mid-cycle environment. targeted sustain investment level storage and is million of our growth, full towards this approximately XXXX which XXXX, logistics

years investing approximately of derisked our $XXX our assets senior repurchasing sheet X amount principal in notes. secured XX, in addition by December million XXXX, our balance manufacturing we In over the to ended

X.X We year left respect with also returned shares of the for estimated period. Slide approximately stock capital our shows table our the considerations million full upper XX in year. in to same volumes the of and sales ammonia expectations repurchase the stockholders for XXXX. The key through the to summarizes production our

we Cherokee greater made that the production expect in We ammonia with XXXX and should facilities more production as than at year. increase increases the planned compared XXXX second turnaround into SG&A our plant sales the This XX-day well of during to and variable products, the completed our will the expect improvements turnarounds half Dorado of last we covers we in work in year. upgrade and sales our as ammonia of downstream volumes AN, XXXX, expenses production can portion nitric time, fixed estimates The higher-margin reflecting acid our decline of UAN. At a and of expenses as our other ammonia to expect products. completed production of this our Pryor our same impact XXXX. the and meaningful yield site for the downstream volumes also see offset Also, at that the you in El to slide

investments we reflect making achieve volume are our expectations goals. fixed to Our costs for production

to see expect in trend XXXX. beginning fixed We costs down

to the tax We rate for our XX%. year approximately expect be effective

be continue $XX bottom do for the million growing we to annual that XXXX. our capabilities in material to to a for business. our logistics includes as approximately investments, to million $XX million XXXX of utilize However, earmarked side $XX of and $XX to for you'll million during not expect we reliability table expect storage cash That the our and in growth $XX facilities $XX taxpayer CapEx EH&S NOLs. In the at including invest right CapEx slide, we million see and enhanced AN million to

Damien the prices will corresponding resulting As rising urea trend out, a in forthcoming application through spring believe pricing, U.S., a we the in season. UAN are rise in pointed continue

approximately X volumes our compared expect the This driving turnarounds for to has previously our first on lower expectations our that this cost focus expect XXXX. following $X.XX an of of be to on impact the to for upgrading of relative is capture favorable Through of the trends per XX of the heading with margins. Page of consistent we're the we in relatively groups indicated This a into XXXX prices volume as We averaged months XXXX. MMBtu. turnarounds. our XXXX the XXXX. first our year. additional discussed sales result gas higher adjusted increasing natural in quarter the product largely final to illustrates amount ammonia to major our With said, gas be months year, inventory for year flat slide, the quarter volume the of uplift full is first We levels do

increase of acid shows in and chart result The expansion in part from reliability and which, our a nitric middle despite volumes, our in first to expect quarter. downstream sales our the in 'XX recognized in facilities, year strong full chart the volume at flat we compared as impact sales the turnarounds XXXX. Cherokee urea Pryor volumes completed XXXX at results 'XX. were we The improvements impact and This shows operations Pryor to both facility third of AN the in performance our the UAN

UAN been of of blue have sales that striped the significantly. and white section we shown impact turnarounds in estimate would volumes the the up middle bar, Excluding

sales Our UAN this chart new downward right the as case, a trend down capacity XXXX shows benefit in a thing. good into a full right trend as increase a plant the projection the improved year volumes. of for well The the on volume ammonia far reliability. in is In in reflects further

earnings summary initiatives XX, Turning we to drive underway growth. to find Page the you'll of a have multiple

projects XXXX, an we UAN were El completed our of we additional X,XXX second projects, acid in the expansion our of storage X talked our margin expect the facility. enhancement tons of urea to First, XXXX. our facility annually of of us tons capacity to produce Pryor at Both at half an Dorado and over about nitric of the that construction course XX,XXX the incremental allow

We see XXXX. expect incremental the in to full year benefit EBITDA

production ammonia while our important increasing during benefits the additional lever. work us. XXXX earnings those recognize post performed opportunity of some And the turnaround, of goal stated an we have our of represents volumes ahead we Second,

of half the move Dorado expect of We this plant second production our our towards El goals. ammonia turnaround ammonia the us to year in further

Third, put downstream focus during XXXX, great reliability of we the on a of deal production. improving our

expect to initiatives ongoing our additional production that and have in XXXX. We are pleased see with in to XXXX progress we capture

will realize Lastly, a There on numerous efficiencies to we driving meaningful capturing them focus efficiencies believe we incremental business earnings are optimization. and in XXXX. opportunities our can focusing by generate profit for and be

spending levels we've sales at made and several as production been elevated our past Additionally, years maximizing over aimed the have volumes. investments increasing

$XX inflection these XXXX to point expect to that additional we and creation XXXX. One in these mind We costs begin is in point on top reach of an keep downward trending million Dorado project value our facility once Mark. also in CCS activities, have million I'll of annual our the we expectation $XX have El EBITDA to complete. And over turn it back to of at now incremental

Mark Behrman

project. XX the our our EPA's key item gating The projects. to Class Dorado Thank our ammonia pertains application you, remains approval low-carbon Page permit of El for CCS Cheryl. X

application. with the the we the To have We dialogue injection deep meaningful their as our drill to the data continue stratigraphic possible to the well. well review technical regarding permit plan site-specific most EPA, provide EPA to of

approach first latter We of and this announced of time our solution upon start-up shipping AN conventional begin our line, would offtake customer COX May estimate overall to at XXXX. In for transactable. Based will in discussions expect Ship around been Houston with for half that of price late low-carbon these the in ammonia to centered discussions following higher operations. With believe per discussions, our injections decrease exists, completion XXXX, $XXX. demand first pre-FEED ammonium product we that on that low-carbon Those have produce will the ton El and of We've we'll transition is that respect and ammonia facility. low-carbon Dorado low-carbon we offtake discovery begun customer Channel customers. that nitrate our providing has both demand our focus to pricing levels multiyear price potential on are volume than less the the project, for XXXX, that these we having

alternative assess generates our to including are our project, all our project, our targeted ensure the partners FEED return configurations a obtains investment. If and on about customer of full the knowledge our step assessment working of economics the gaining required the the to next be project with continues support to We on this aspects evaluation demand assumptions of study. will

the we we of will believe to COX are ammonia. to disciplined to that reduce be and in new momentum global the demand. What don't for new Therefore, approach low-carbon timing capital. market is continue trying demand drive We we that know how invest emissions the to our

first this provide quarter on We a expect update to more definitive conference call. project on our

about we into a capacity this our deal more the our production prospects company great year. make to XXXX, further front move the we As value facilities, improving for and progress transforming XXXX expect excited are of and we for increasing accomplished reliability stockholders. our and towards this on We during

of necessary profitability. towards through our development. time, that drive We to and to continue incremental significant ammonia to efficiencies sales continue shift projects mix our the to we phases into the our believe will enhance same navigate downstream these higher-margin business across we the translate initiatives Collectively, low-carbon EBITDA. At products

of our mentioned we in process, place particularly global in a of EPA earlier, ammonia's this aspects the evolving in permit them confident firm and be in the as meaningful certain While landscape are transition I years. market player low-carbon ability coming control, our believers the are Class X are energy out to in largely

remarks, concludes take look with will now April questions. to Thank events. That Conference be of our New Management at the we coming events we happy in up some I'd and participating virtual to XX Basic Materials we on to in and speaking the Research to will your March Exchange Granite you. following York X. April months: series X like you Before be on questions, We and the Day prepared those that open forward mention a it Stock

Operator

is Thank Begleiter Instructions] David first from question you. Deutsche from Bank. The [Operator

David Begleiter

What's price you Mark, the for as may is that the them? right low the price a price mentioned be implications that carbon price? customers. Why underpinning $XXX key for for

Mark Behrman

and from they customers confident Well, know a price the got right pretty think out saying I from really got and transact. their conversations talk the under information for about to a it's in to we're be deal price marketplace, that can I they've our ton if marketplace benefit the own now don't them. lot pay. the But with had, in they FOB been all we've $XXX there's that of mean what just we've to

David Begleiter

on like yourself shortly. frame for that And opportunity that looks Understood. tariffs and some it we'll U.S.-based get you Canada if producers pass? to Could other comes

Mark Behrman

I'm didn't I of sorry, the part understand first the question.

David Begleiter

place? for the U.S.-based producers into In Canadian terms of opportunity tariffs those potential frame come you could the if tariffs,

Mark Behrman

you that take do to one? Damien, want

Damien Renwick

the exports a U.S. Canada Yes, ammonia that. the exporter of I opportunity I'll on take is there is some David, to -- think probably molecules. net different there

for think for difficult that it's outside a them be product I home of U.S. going the to find to

-- pass they're it think will And would other more probably either they as likely I it over on out to somewhat exporter But think increase get net well, on. should then net as a from there's lot that the So I into seek here they U.S. sources. then as optionality UAN time, UAN. a But prices pressure import

we And trade will time probably so as found. routes are some level benefits, price over see out might that different while short-term

Operator

The Lucas next question UBS. is from from Beaumont

Lucas Beaumont

Yes. the project. wanted Houston ask Ship I to just Channel about

of look So I we the below outlook was is. curve, more cost mean that where when XX% kind current the or pre-war at

don't uncertainty lower think about at probably that factor you and in you how when economics just mean or assess to of would thinking of I the the about potentially whether it's you to but levels, in those go how kind -- in I this project context not? somewhat. that back shifting sort least are to of the of is to forward go Europe going it's anyone of assuming down the mean, Given somewhat come sort I going

Mark Behrman

been to come. and a build public going think pretty we've not I on plant hope we're they So

the long-term So -- to potential -- think have over I project. the offtake volumes, really a Because to X, been we think contracts, that price point won't really conversations right? come. as could underpin I of I the activities we're with without and not a hope that and the at they of understand what said, number lot offtakers and, years And XX, certainly, really can months so stated have for trying build plant take risk a going last key we on been for XX transact that, we so

sit I comments, be bring about might to we we've -- hopes makes I prepared can said on certainly offtakers. that and the to that partners think capital a project get contract customers. forward though, of wait at as my to If we'll different sense are So project down we would we with the today, able in unfolds. In a can't, think continue ways on knowledge what on cost I cost such move configurations have a some work some And think sidelines conversations lot that ton and market done it a for really the it till looking we'll the we that we'll and a in long-term below think and when we capital to now the on meantime, then time at we that get could gained $XXX to offer done. we we take

Lucas Beaumont

projecting of I forward so get that gross guess on here there to And years? the of which or ammonia a is pathway do your for over rates good going next just, see year, volumes you're more this you of you're XX% of the operating I just kind back to on guess, from so kind outlook production, progress. system the out drive couple to year-on-year how

Mark Behrman

and been at just activities, turnaround. We've facility El between large is got think, turnaround planned Yes. a That I XX%, sort because low XX% ex Dorado running of planned XX% our year. this we've

real and really resources think brought I the help to in us, rates is this so And year those move we outside to some -- focus forward.

end be that the of to a so next by 'XX, so the of consistent end closer would hope to XX% year, And basis. on we much

Lucas Beaumont

expense your for the outlook from one just year. then And

driven per -- else usage? by the just previously. have that of guys kind increased ton of this from Or the is being So there? XX consumption of change noticed the you Is year I ammonia assumption something on product increased sort gas upgrade I your to driving XX

Cheryl Maguire

Yes.

main That's the of gas it things gas, updating just the think Lucas. and I there fuel include change is there. kind the the to process both main

Operator

question is from The Alexander from next Laurence Jefferies.

Daniel Rizzo

for that, kind of second the should think to on El course? a Laurence. done 'XX, Dan for say, try in will you we while? turnaround of After 'XX? after how this about Or Are there It's outside more Rizzo project, capacity half low-carbon the the of Dorado of be expand in you further turnarounds, year, as

Mark Behrman

Sure.

think small I work you schedule, Dorado go think we to a be X-year -- for on the think to speaking, on turnaround outages, But El finish we this may We Dorado right? some way to have we'll El turnarounds, through other through El would turnaround generally I have some those X- about we year. or to And have want projects. so So full we'll another a turnaround years Dorado the -- expect years. not outages X

XXXX. They've ammonia X went went they'll XXXX. turnaround, And Cherokee Our ammonia until they turnaround. and a turnaround actually a move on so go including then a in scheduled another will X-year Pryor through then But XXXX, for to full ammonia until another this years, turnaround not year. through plant

Daniel Rizzo

some North you capacity seeing I America mentioned just wondering some know, with downstream in with people, a possibly supply delays online -- if you're move or additional in was coming then seeing Okay. ammonia. don't and And little bit or -- elsewhere? I you're UA new UAN

Mark Behrman

No, ammonia. been and the not focus really the most really. low-carbon Most talk has of of on

past to this at for the and in of expansions, We a there's haven't further with no the not some look sense UAN. a urea, at Pryor, another make yet on new really we seen economics -- expansion there expansion the U.S., much did And on expansions. finished build we're So an us. but year may margin analysis be whether at take Pryor, opportunity our certainly

Operator

RBC from Wong Capital Andrew from is question next Markets. The

Andrew Wong

your it's $XXX you'll per for looks that project? that, Channel that like return just Houston I get cost it's where bit a Can the And on Is Is current little Ship ton also number. for as the point? a customers helpful where good estimates well? more understand pivot

Mark Behrman

think would of level on forward less that's ton. what project than price that be a the a of us offtake appropriate comfortable a to is move get I So we a think would $XXX we -- make I to could $XXX say

capital I I continue announced, our -- up However, have think where costs been projects and competitors, costs some significantly. been -- we're mean other go there's of to up pretty our including that capital

you to after you cost So we we get sit the and do don't think today, how have conversations our about offtakers, project, then a transactable. having return capital current there's on we these anything here that our think with that. And pre-FEED through as have at that going for

So with our that get reconfigure we down to can out, that bring a partners cost operations of ton. below we are project now way a so capital $XXX our to that is there figure that and working cost our we can

yet. as about wouldn't the go time really But this. conversation possibility. publicly be mentioned, think on end call conference a that to And position the spend we to talk a we Otherwise, not do a April. to our and first quarter in we'll through I there have meaningful really it there's more we're of So at think I

Andrew Wong

sense. lot That Okay. makes a of

to said El permits? process that previously, constrained. had EPA, how the resources the does there you the And Has I it the timeline like were Dorado? -- like with already mean, their been On capacity seemed in on the impact and any change changeover in administration

Mark Behrman

some ongoing that. conversations with them. having We're haven't We're disposed seen the still changes. actually of we No, to favorably

think, EPA, probably certainly in a streamlining he'll thing. actually Dallas is the head the He's right So Energy former process of to Zeldin, is office, of and X that in of is good be steward focus Dallas, on Lee the EPA someone known us office head the I is our team. down Secretary I sort for a new the regulation, of feel things Region think, for Oklahoma. this Deputy a thing good and like The we new the general, the of good which and in EPA

that, So think us. a we that's for positive

sideways a So down, initial movement progress. we're some start we'll hoping that settle real see to kind we'll once that of things after -- or see slowdown some here,

pretty we're good think of changes feeling some I about where in going. the EPA So it's and the

Andrew Wong

like or is on It Plains with with what If do NOLA can expect for kept just urea prices And more in that? even what haven't prices Okay. quite Great. you seeing ammonium Why U.S. looks benchmark the we're and I ask this general. nitrate. Southern HDAN Midwest in up year?

Damien Renwick

what seeing changes Andrew, supply the I balance think some demand in and in you're U.S. the here is

the reasons security switched away over that. costs, the couple on offtakers have due side major So of years, or of some things AN ag like to around last insurance concerns high cost, coverage

they've really the move to to hasn't so And balance chosen in U.S. here products. And changed. the alternative supply

that pricing are And that's really So you're driving coming of dynamic. seeing there just that imports play some natural as sort what's we're competing cheaper also against in.

Operator

next McGuire Granite is Rob from from The question Instructions] [Operator Research.

Robert McGuire

quarter. Nice

ammonia? Mark, updates you're pipe, to coming you if just the legislation on could any just X So shifting European seeing the focus low-carbon discuss, from down

Mark Behrman

as them getting a some So lot of of good lot the a pretty Well, offtakers, there European, we're ground information. to because is we interesting talk. potential are right? It's on talk

there Europe. a So over and seeing lot the that of in through is it would of a do say that shifting lot I results of policy kind about in -- you're election has talk of and to some it's flowing

just Europe, to -- and projects. on on cost, dealing the pushback general, dealing I same ability on think, with right? basis overall inflation, tax they're things, of some pushback pushback think in the is dealing of that these fund So we're here, I some

on just low there I that carbon or talk. we're a something and high lot is is So rather blue CBAM do think that actually much start that's to going supposed more than Europe revisiting maybe green, X/X/XX. is their policies, list. One -- thing January, is becoming watching of the

of now even or people some X lot And push pushing to to trying there about conversation year lobby a back is back so a that it years.

users So much not I of ammonia to the year European that's then a thing because all delayed be an switch if to one X. potential on, that think eye have as pressure case, is It keep or really ammonia. there's that to may we'll on

Robert McGuire

the the That's XXXX helpful. goals? Agreement, the as intent overall administration withdraw announcing Are just from to interested? with in Paris Paris excuse in U.S. Trump carbon And -- participating are interested U.S. me, his customers just the reduction less they becoming seeing withdraw from you

Mark Behrman

I for think a catalyst the that's noninterest. -- -- that, interest not I don't I'm sure or

when for think business? don't their financial is that the is and catalyst environmental But to to say impact cut all this is the want I people the I'd it that what the think I really based. to aren't. down it of people like it, reality benefit does and all, to you financially to people doing that what's are do

some their money less that can't it's more aren't you to going go to it want to stewards." I shareholders say, don't because money, on. that, keep think take to and to do make to and be profitability to "We're make loss people flat If I would to there's people then reality be keep we -- it most good ultimately mean for hard most costs going environmental use that. a but big not or

will the the as But the energy really are I So materialize I big prepared what we ultimately in is, a said think transition. time. that comments, and believer is here. do timing We -- that said, I demand think this in wildcard over

Robert McGuire

helpful. And question. last That's just one

just are stronger that downstream in shifting capacity? the a to function demand? that say, Or of, on due was Just fourth reliability actually sales direction the increasing volumes, you strong production AN quarter

Damien Renwick

Rob. our industrial and in a on growing the good side uptake with with of solution seeing plants. some we've -- We're AN capitalize probably both, that it's been of reliability to able Yes, bit

us try and we've take they we so. upgrade So good improved with every base, really is leveraging our to volumes. customer know, and do can, then allowing some as reliability additional And molecule got we also the you the and can relationships

Mark Behrman

Yes.

to this that, Just mean, to I I add team. to kudos want our team talked commercial we've and mean to before. our give manufacturing I about

team commercial see focus, money, just really about think time the and improving at produce a on that product spent it's We that day, of I have really talking make of you'll to about taking right? And so reliability, good is And doing that most right? lots not the a job we more. that, We on on optimizing trying the end focusing and our But big the that. real ultimately production. the

of that it's think was we for in us about talked I progress in just it. kind it really our the out. slide to show I pictorially making We've points important results. are there the through and that think presentation And coming

Operator

like are turn There to would for the Mark closing back comments. questions over this I to Behrman no time. at further floor

Mark Behrman

Thanks, either in great to everyone's Cheryl as you there's much a for myself Maguire interest. the look that call. to seeing have We going feel events appreciate give Buonocore, some If you thank forward. free so call. conference have participating questions, and further a forward of Fred or we We always, Well, day. at the

Operator

This concludes today's teleconference.

your You Thank time. at this participation. you may lines disconnect for your

LSB Industries (LXU) 27 Feb 252024 Q4 Earnings call transcript