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

- AdvanSix (NYSE: ASIX) today announced its financial results for the second quarter ending June 30, 2020. Overall, the Company's second quarter results reflected the resilience and strength of its vertically integrated asset base and global low-cost advantage.

Second Quarter 2020 Results

•Sales down approximately 33% versus prior year driven by 19% lower volume, 11% lower raw material pass-through pricing and 3% unfavorable impact of market-based pricing

•Net Income of $11.4 million, a decrease of $3.9 million versus the prior year

•EBITDA of $30.7 million, a decrease of $5.2 million versus the prior year

•EBITDA Margin of 13.2%, up 280 bps versus the prior year

•Cash Flow from Operations of $8.8 million, a decrease of $16.5 million versus the prior year

•Capital Expenditures of $17.5 million, $14.2 million favorable versus the prior year

•Free Cash Flow of ($8.7) million, a decrease of $2.3 million versus the prior year

•As of the second quarter 2020, approximately $73 million of cash on hand with approximately $36 million of additional capacity available under the revolving credit facility

“Our global low-cost position allows us to perform well in a challenging end-market environment," said Erin Kane, president and CEO of AdvanSix. "Designated as an essential business during the COVID-19 pandemic, our entire organization stepped up and continued to execute to serve our customers through safe and stable operations. In addition, the diversity of our portfolio, including granular ammonium sulfate and acetone, alongside cost discipline and ongoing benefits from our high-return capital investments continues to support us as we navigate through challenging nylon industry conditions. Although uncertainty remains around the duration of the pandemic and the pace of global recovery, we have a great foundation to build on in the face of these dynamics."

The following information was filed by Advansix Inc. (ASIX) on Friday, July 31, 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 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: 0001673985-20-000129
Submitted to the SEC: Fri Jul 31 2020 4:27:40 PM EST
Accepted by the SEC: Fri Jul 31 2020
Period: Tuesday, June 30, 2020
Industry: Plastic Materials Synth Resins And Nonvulcan Elastomers