Company Reports Q1 Revenue of $125.1 Million
Reports Q1 revenue $125.1M vs. $111.84M last year. "We delivered 14% year-over-year sales volume growth in the first quarter and remain on track to meet our full-year volume expectation," said Timothy Flanagan, Chief Executive Officer and President. "However, supply-side imbalance, driven by overcapacity that has been built in both China and India, translates into a current pricing environment that remains unsustainably weak. Our focus on commercial execution and disciplined cost management, combined with our $329 million liquidity position, allows us to maintain stability while we take actions to address these conditions." "We are taking decisive steps to restore more sustainable market dynamics and support the long-term viability of our business and our industry," continued Flanagan. "These include implementing price increases on uncommitted volume and actively supporting trade cases in key jurisdictions. We believe these actions are necessary to correct market imbalances. We remain committed to providing reliable supply to our customers while improving our financial performance and delivering long-term shareholder value."
