Arq, Inc. (NASDAQ:ARQ) Q1 2024 Earnings Call Transcript

Arq, Inc. (NASDAQ:ARQ) Q1 2024 Earnings Call Transcript May 9, 2024

Arq, Inc. isn't one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).

Operator: Good day and welcome to the Arq First Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode. Later, there will be a question and answer session. [Operator Instructions] I would now like to turn the call over to Anthony Nathan, head of Investor Relations. Please go ahead.

Anthony Nathan: Thank you, operator. Good morning everyone, and thank you for joining us today for our first quarter 2024 earnings results call. With me on the call today are Bob Rasmus, Arq’s Chief Executive Officer and President; as well as Stacia Hansen, Arq’s Treasurer and Chief Accounting Officer. This conference call is being webcasted live within the Investors section of our website and a downloadable version of today’s presentation is available there as well. A webcast replay will also be available on our site and you can contact Arq’s Investor Relations team at investor@arq.com. Let me remind you that the presentation and remarks made today include forward-looking statements as defined in Section 21E of the Securities Exchange Act.

A close up of a laboratory beaker filled with colorful chemicals, signifying the company's specialty chemicals.

These statements are based on information currently available to us and involve risks and uncertainties that could cause actual future results, performance and business prospects and opportunities to differ materially from those expressed in or implied by these statements. These risks and uncertainties include, but are not limited to, those factors identified on Slide 2 of today’s slide presentation, in our Form 10-Q for the year ended March 31, 2024 and other filings with the Securities and Exchange Commission. Except as expressly required by securities laws, the company undertakes no obligation to update those factors or any forward-looking statements to reflect future events developments or changed circumstances or for any other reason.

In addition, it is especially important to review the presentation in today’s remarks in conjunction with the GAAP references in the financial statements. With that, I would like to turn the call over to Bob.

Robert Rasmus: Thank you Anthony, and thanks to everyone for joining us this morning. I’m proud to report that for the first quarter of 2024, we maintained the strong momentum, which began building in the second half of last year. Our latest quarterly performance reflects continued top line growth and improved margins driven by higher pricing and cost management. Our performance in the first quarter of 2024 versus 2023 is even more impressive given lower volumes caused by a very mild winter. These efforts resulted in the continued financial improvement to our foundational PAC business and ongoing progress related to our granular activated carbon expansion. I’m also excited about signing our first granular contract. I will provide more details on this milestone event later in my remarks.

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