Strong Performance in Surfactant Specialty Products
Surfactant Specialty Products delivered strong double-digit adjusted EBITDA growth, with global volumes growing 1%, driven by 2.5% growth in the surfactant business. The segment also saw a 10% increase in adjusted EBITDA for the quarter.
Positive Free Cash Flow
The company achieved positive free cash flow of $39 million for the year, which was in line with expectations and the operating plan.
Successful Cost Reduction Efforts
The company delivered $48 million in pretax cost out during 2024, achieved through supply chain efficiencies and workforce productivity improvements.
Strong Specialty Products Performance
Specialty product net sales increased by 10% in the quarter, with adjusted EBITDA growing by 65% due to margin recovery and volume growth.
Strategic Investments and Growth
Despite challenges, the company made strategic investments in the new Pasadena site and introduced new products in the growing spray foam market.