Northern Technologies International Corporation (NTIC) delivered a strong Q2 2024 showing across its diversified portfolio of corrosion-inhibition and bioplastic solutions. Consolidated net sales rose 14.1% year over year to $20.84 million, underpinned by a 47.5% surge in Natur-Tec bioplastics to a quarterly record of $5.6 million and a 20.1% rise in ZERUST Oil & Gas to $2.2 million. ZERUST Industrial grew modestly, up 3.1%. Although joint ventures (JV) outside NTIC declined 7.9% year over year, JV operating income increased 4.2%, reflecting ongoing profitability improvement initiatives in partner networks. The quarter also featured a meaningful margin expansion, with gross margin improving to 40.0% from 34.5% in the prior year, driven by in-sourcing of production and inflationary offsetting actions. Net income attributable to NTIC was $1.70 million ($0.18 per diluted share), while operating income remained negative at about $0.28 million, signaling ongoing near-term profitability headwinds within a scaled, revenue-diversified base. Positive cash flow generation was a highlight: six-month operating cash flow reached $5.66 million, up 156% year over year, supporting a quarterly dividend and debt-reduction efforts. Management signaled confidence in continued top-line growth across ZERUST Industrial, ZERUST Oil & Gas and Natur-Tec, while stressing ongoing focus on joint venture profitability in Europe and Asia. Looking forward, NTIC anticipates sustained operating cash flow generation in H2 2024, continued demand in Natur-Tec and Oil & Gas while China demand shows early signs of improvement, and a constructive backdrop for higher profitability as the company expands manufacturing capabilities and scale. Investors should monitor oil-and-gas project cadence, Natur-Tec adoption in new OEM applications, China/India contributions, JV performance, and the balance of cash deployment between growth investment, dividends, and debt paydown.