Advansix Inc. (ASIX) 10-Q Quarterly Report May 2020

Company taking proactive measures to mitigate COVID-19 impacts; Continues to operate to meet customer demand while protecting health and safety of employees

Parsippany, N.J., May 1, 2020

- AdvanSix (NYSE: ASIX) today announced its financial results for the first quarter ending March 31, 2020. Overall, the Company's first quarter results reflected the resilience and strength of its vertically integrated asset base and global low-cost advantage with minimal impact from COVID-19.

First Quarter 2020 Results

•Sales down approximately 4% versus prior year, as 6.5% higher volume and 1.1% higher raw material pass-through pricing was more than offset by 11.5% unfavorable impact of market-based pricing

•Net Income of $8.6 million, a decrease of $11.6 million versus the prior year

•EBITDA of $28.6 million, a decrease of $13.4 million versus the prior year

•Cash Flow from Operations of $19.7 million, a decrease of $22.4 million versus the prior year

•Capital Expenditures of $34.1 million, a decrease of $5.4 million versus the prior year

•Free Cash Flow of ($14.4) million, a decrease of $16.9 million versus the prior year

“Our integrated asset base, global low-cost position, and diverse co-product portfolio served us well in the first quarter as we continued to navigate through challenging nylon industry conditions," said Erin Kane, president and CEO of AdvanSix. "As we progress through the second quarter, we are executing our business continuity plans to ensure we remain a trusted partner for reliable supply to our customers. Designated as an essential business during the COVID-19 response, we take our obligations seriously to produce materials that support the broader population while maintaining a relentless focus on health and safety. Nylon demand weakness in carpet and engineered plastics applications is expected to continue, however, we've seen resilience across various other product lines including our acetone for hand sanitizer and acrylic screens, nylon for food packaging, and granular ammonium sulfate into the heart of

The following information was filed by Advansix Inc. (ASIX) on Friday, May 1, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Advansix Inc. provided additional information to their SEC Filing as exhibits

Exhibit 10.2: Material Contract

Exhibit 10.3: Material Contract

Exhibit 10.4: Material Contract

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: ASIX
CIK: 1673985
Form Type: 10-Q Quarterly Report
Accession Number: 0001673985-20-000078
Submitted to the SEC: Fri May 01 2020 4:26:42 PM EST
Accepted by the SEC: Fri May 01 2020
Period: Tuesday, March 31, 2020
Industry: Plastic Materials Synth Resins And Nonvulcan Elastomers