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Sep 30, 2023
Advansix Q3 2023 Earnings Report
Navigated challenging nylon market conditions while executing planned plant turnaround.
Key Takeaways
AdvanSix reported a decrease in sales by 33% compared to the prior year, with sales totaling $323 million. The company experienced a net loss of $8.0 million, and adjusted earnings per share were reported as ($0.36). They returned $14 million of cash to shareholders through repurchases and dividends.
Sales decreased by approximately 33% versus prior year driven by unfavorable market-based pricing, lower raw material pass-through pricing, and lower volume.
Net Loss was ($8.0) million, a decrease of $18.0 million versus the prior year.
Adjusted EBITDA was $7.3 million, a decrease of $26.0 million versus the prior year.
Free Cash Flow was ($4.3) million, a decrease of $41.0 million versus the prior year.
Revenue by Segment
Forward Guidance
The company expects nylon industry margins to remain at prior trough levels through year-end due to unfavorable supply and demand conditions and anticipates continued higher Nylon Solutions exports in near-term.
Positive Outlook
- Expect favorable underlying agriculture industry fundamentals to continue
- Expect balanced supply and demand conditions for North American acetone to continue
Challenges Ahead
- Expect nylon industry margins to remain at prior trough levels through year-end due to unfavorable supply and demand conditions
- Anticipate continued higher Nylon Solutions exports in near-term
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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