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    Kevin Holder • Deutsche Bank

    Kevin Holder's questions to Stepan Co (SCL) leadership

    Kevin Holder's questions to Stepan Co (SCL) leadership • Q4 2024

    Question

    Kevin Holder sought clarification on the outlook for interest expense and depreciation in 2025 with the Pasadena facility coming online. He also asked about the company's sensitivity to currency fluctuations in the Euro, Mexican Peso, and Brazilian Real, and concluded by inquiring about expectations for China's construction market and the growth of spray foam there.

    Answer

    Luis Rojo, President and CEO, directed Holder to the presentation slides for 2025 depreciation guidance of $128M-$132M, noting the increase is mainly from Pasadena. Regarding currency, Rojo identified the Euro as the main risk, stating the impact from the Peso and Real is not material. He clarified that Stepan's China Polymers business is diversified away from the troubled residential construction sector, focusing on other growing end markets like LNG ships.

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    Kevin Holder's questions to Materion Corp (MTRN) leadership

    Kevin Holder's questions to Materion Corp (MTRN) leadership • Q3 2024

    Question

    Kevin Holder of CL King & Associates asked if demand shifts have altered the timeline for expansion projects in Electronic Materials, inquired about updating the 20% adjusted EBITDA margin target, and asked about customer base diversification and market share strategy in the space business.

    Answer

    President and CEO Jugal Vijayvargiya confirmed that key expansion projects, including in Milwaukee and Newton, are proceeding without delays to ensure capacity for future growth. He stated that while pleased with achieving >20% EBITDA margins in four of the last six quarters, the focus remains on consistent delivery before considering new targets. He also highlighted growth in both government and emerging commercial space sectors, including outside the U.S., as key to their strategy.

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    Kevin Holder's questions to AdvanSix Inc (ASIX) leadership

    Kevin Holder's questions to AdvanSix Inc (ASIX) leadership • Q3 2024

    Question

    Kevin Holder inquired about the performance of the fertilizer business, specifically the success of the fall fill program amid lower farm income, and fertilizer demand in the Southern Hemisphere. He also asked new CFO Sid Manjeshwar about his strategies for driving accelerated profitable growth.

    Answer

    President and CEO Erin Kane explained that strong sulfur premiums and grower recognition of sulfur's value in maximizing crop yields drove fertilizer success despite declining farmer economics. She noted a positive outlook for South American demand. SVP and CFO Siddharth Manjeshwar stated his focus for growth includes improving productivity and margins, expanding commercial earnings via differentiated products and high-return projects like SUSTAIN, and optimizing capital allocation.

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