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

Robert Rasmus: As I mentioned to Gerry, we don’t, and never will comment on the specifics of individual contracts. As it relates to pricing, I will say the pricing is attractive and it is a multiple of our average PAC pricing. So that is consistent with our business plan and our communications. And I will say that the pricing on the contract offers excellent value and returns to Arq as well as our customer. In terms of confidence based on our current contract negotiations and the fact that we already have a signed contract for 20% of our future granular activated carbon capacity, six to eight months in advance, I was in, I continue to remain very, very confident in our ability to contract the remaining capacity prior to production.

Mark Silverberg: We had one more here that we received overnight regarding volumes. So volumes were down year over year for the first quarter of the year. Can you provide any color on how volumes are perhaps shaping up thus far for the second quarter?

Robert Rasmus: Sue. The first quarter was certainly tough from a volume standpoint. We have seen a nice rebound in April, May where what nine-days into it has started out on a nice trajectory as well. And what we are really seeing as it relates to volume is the fruits of our efforts to further diversify our PAC business to markets other than coal-fired power plants.

Operator: We will now turn back to Bob Rasmus for any additional or closing comments.

Robert Rasmus: Thank you, Jamie. In summary, we are pleased with where we are, but we are certainly not pausing as there is plenty of opportunity ahead for Arq. I look forward to providing further updates on our second quarter call or as events dictate. Thank you for your interest in Arq and we look forward to speaking again soon.

Operator: Thank you once again ladies and gentlemen that will conclude today’s call. Thank you for your participation. You may disconnect at this time.