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Advansix Inc. (ASIX) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

Advansix Inc.

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CIK: 1673985 Ticker: ASIX

Exhibit 99.1
image11.jpg
AdvanSix.com                                    
News Release


ADVANSIX ANNOUNCES FOURTH QUARTER AND FULL YEAR 2020 FINANCIAL RESULTS

Strong volume growth, margin improvement and cash flow generation
4Q20 Sales of $340 million, up 4% versus prior year
4Q20 EPS of $0.94, up $1.02 versus the prior year
4Q20 Cash Flow from Operations of $48 million, up $28 million versus prior year

Parsippany, N.J., February 19, 2021
 - AdvanSix (NYSE: ASIX) today announced its financial results for the fourth quarter and full year ending December 31, 2020. The Company generated improved results across a number of measures in the quarter and for the full year including sales volume, income and cash flow, while mitigating the ongoing impacts of COVID-19.
“Our strong fourth quarter and full year results demonstrate our team's resilience, perseverance and strength of execution. For the full year, we expanded margins, generated higher earnings and cash flow, and reduced leverage levels as we navigated the challenging macro environment," said Erin Kane, president and CEO of AdvanSix. "Sales volume grew compared to the prior year reflecting the strength of our business model, low-cost position and diversity of our product portfolio. In 2020, we proactively drove approximately $26 million of productivity and cost savings to mitigate the impact of COVID on our business while continuing to invest for future growth in differentiated products and high-return capital projects."
Fourth Quarter 2020 Results
•Sales up 4.2% versus prior year, as 7.9% higher volume and 0.7% favorable impact of market-based pricing were partially offset by 4.4% lower raw material pass-through pricing
•Net Income of $26.8 million, an increase of $28.9 million versus the prior year
•EBITDA of $48.5 million, an increase of $35.8 million versus the prior year
•Cash Flow from Operations of $47.8 million, an increase of $27.9 million versus the prior year
•Capital Expenditures of $15.4 million, a decrease of $28.6 million versus the prior year
•Free Cash Flow of $32.4 million, an increase of $56.5 million versus the prior year


1
The following information was filed by Advansix Inc. (ASIX) on Friday, February 19, 2021 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Advansix Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parentheticals)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity (Parenthetical)
Consolidated Statements Of Stockholders??? Equity
Accounts And Other Receivables ??? Net
Accounts And Other Receivables ??? Net (Tables)
Accounts And Other Receivables ??? Net - Components (Details)
Accounts And Other Receivables ??? Net - Schedule Of Allowance For Doubtful Accounts (Details)
Changes In Accumulated Other Comprehensive Income (Loss)
Changes In Accumulated Other Comprehensive Income (Loss) (Details)
Changes In Accumulated Other Comprehensive Income (Loss) (Tables)
Commitments And Contingencies
Commitments And Contingencies (Details)
Commitments And Contingencies (Tables)
Derivative And Hedging Instruments
Derivative And Hedging Instruments (Tables)
Derivative And Hedging Instruments - Adjustments Related To Cash Flow Hedges On The Comprehensive Income Statement (Details)
Derivative And Hedging Instruments - Amount Of Loss Recognized In Earning (Details)
Derivative And Hedging Instruments - Balance Sheet Classification (Details)
Derivative And Hedging Instruments - Narrative (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Narrative (Details)
Earnings Per Share - Schedule Of Earnings Per Share - Basic (Details)
Earnings Per Share - Schedule Of Earnings Per Share - Diluted (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Narrative (Details)
Income Taxes - Schedule Of Deferred Tax Assets And Liabilities (Details)
Income Taxes - Schedule Of Income Before Taxes (Details)
Income Taxes - Schedule Of Income Tax Rate Reconciliation (Details)
Income Taxes - Schedule Of Income Taxes (Details)
Income Taxes - Schedule Of Unrecognized Tax Benefits (Details)
Inventories
Inventories (Tables)
Inventories - Schedule Of Inventory (Details)
Leases
Leases (Tables)
Leases - Components Of Cost (Details)
Leases - Maturities Of Lease Liabilities After Adoption (Details)
Leases - Narrative (Details)
Leases - Supplemental Balance Sheet Information (Details)
Leases - Supplemental Cash Flow Information (Details)
Long-Term Debt And Credit Agreement
Long-Term Debt And Credit Agreement (Tables)
Long-Term Debt And Credit Agreement - Narrative (Details)
Long-Term Debt And Credit Agreement - Schedule Of Long-Term Debt (Details)
Long-Term Debt And Credit Agreement - Schedule Of Maturities Of Long-Term Debt (Details)
Organization, Operations And Basis Of Presentation
Organization, Operations And Basis Of Presentation (Details)
Postretirement Benefit Obligations
Postretirement Benefit Obligations (Tables)
Postretirement Benefit Obligations - Assumptions Used In Calculations (Details)
Postretirement Benefit Obligations - Defined Benefit Plans Disclosure (Details)
Postretirement Benefit Obligations - Estimated Future Benefit Payments (Details)
Postretirement Benefit Obligations - Fair Value Measurement Of Plan Assets (Details)
Postretirement Benefit Obligations - Narrative (Details)
Postretirement Benefit Obligations - Net Periodic Benefit Cost (Details)
Postretirement Benefit Obligations - Other Changes In Plan Assets Recognized In Other Comprehensive Income (Details)
Postretirement Benefit Obligations - Pension Plan Contributions (Details)
Postretirement Benefit Obligations - Schedule Of Target Asset Allocation Of Pension Plan Assets (Details)
Property, Plant, Equipment ??? Net
Property, Plant, Equipment ??? Net (Tables)
Property, Plant, Equipment ??? Net - Narrative (Details)
Property, Plant, Equipment ??? Net - Schedule Of Property, Plant, And Equipment (Details)
Restructuring
Restructuring (Tables)
Restructuring - Restructuring Activities (Details)
Restructuring - Restructuring Costs (Details)
Revenue
Revenue (Tables)
Revenue - Deferred Income And Customer Advances (Details)
Revenue - Narrative (Details)
Revenue - Percentage Of Total Sales By Product Line (Details)
Revenue - Revenue By Geographic Area (Details)
Stock-Based Compensation Plans
Stock-Based Compensation Plans (Tables)
Stock-Based Compensation Plans - Narrative (Details)
Stock-Based Compensation Plans - Schedule Of Income Statement Impact (Details)
Stock-Based Compensation Plans - Schedule Of Key Black-Scholes Assumptions (Details)
Stock-Based Compensation Plans - Schedule Of Nonvested Psus (Details)
Stock-Based Compensation Plans - Schedule Of Rsu Activity Related To Equity Plan (Details)
Stock-Based Compensation Plans - Summary Of Stock Option Activity (Details)
Subsequent Events
Subsequent Events (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)
Unaudited Selected Quarterly Financial Data
Unaudited Selected Quarterly Financial Data (Tables)
Unaudited Selected Quarterly Financial Data - Schedule Of Unaudited Quarterly Financial Information (Details)
Ticker: ASIX
CIK: 1673985
Form Type: 10-K Annual Report
Accession Number: 0001673985-21-000011
Submitted to the SEC: Fri Feb 19 2021 4:10:59 PM EST
Accepted by the SEC: Fri Feb 19 2021
Period: Thursday, December 31, 2020
Industry: Plastic Materials Synth Resins And Nonvulcan Elastomers

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