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Advansix Inc. (ASIX) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

SEC Filings

ASIX Quarterly Reports

Advansix Inc.

CIK: 1673985 Ticker: ASIX

Exhibit 99.1
image1.jpg
AdvanSix.com                                    
News Release


ADVANSIX ANNOUNCES FIRST QUARTER 2022 FINANCIAL RESULTS

Record quarterly sales, earnings and margins in 1Q22
Sales of $479 million, up 27% versus prior year
Earnings Per Share of $2.15; Adjusted Earnings Per Share of $2.26, up 115% versus prior year
Cash Flow from Operations of $49 million, down $8 million versus prior year

Parsippany, N.J., May 6, 2022
- AdvanSix (NYSE: ASIX) today announced its financial results for the first quarter ending March 31, 2022. Overall, the Company generated record quarterly sales, earnings and margins reflecting strong execution and robust ammonium sulfate fertilizer performance.
First Quarter 2022 Summary
Sales up approximately 27% versus prior year driven by 26% favorable impact of market-based pricing, 3% higher raw material pass-through pricing, and 2% contribution from acquisitions, partially offset by 4% lower volume
Net Income of $63.1 million, an increase of $34.9 million versus the prior year
Adjusted EBITDA of $103.2 million, an increase of $45.6 million versus the prior year
Adjusted EBITDA Margin of 21.5%, up 620 bps versus the prior year
Cash Flow from Operations of $49.2 million, a decrease of $7.9 million versus the prior year; 1Q21 results included an approximately $12.3 million cash tax refund related to the CARES Act
Capital Expenditures of $21.0 million, an increase of $6.8 million versus the prior year
Free Cash Flow of $28.1 million, a decrease of $14.8 million versus the prior year
Repurchased 181,536 shares at an average share price of $38.61 for approximately $7 million
Closed acquisition of U.S. Amines, a leading North American producer of high-value intermediates used in agrochemicals, pharmaceuticals and other applications

“AdvanSix delivered robust first quarter results to start 2022, delivering both sequential and year-over-year top and bottom line growth. Our collective organization contributed to achieving record sales, earnings and margins in the quarter reflecting the advantage of our diverse portfolio, as well as disciplined execution to serve our key customers and meet strong end market demand amid a tightened supply environment," said Erin Kane, president and CEO of AdvanSix. "We also continued to deploy capital to enhance shareholder value creation including the acquisition of U.S. Amines and return of cash in the form of our ongoing quarterly dividend as well as opportunistically repurchasing approximately $7
1

The following information was filed by Advansix Inc. (ASIX) on Friday, May 6, 2022 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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Definitive Proxy Statement (Form DEF 14A)
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Advansix Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

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Inside Advansix Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parentheticals)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Operations
Condensed Consolidated Statements Of Stockholders' Equity
Condensed Consolidated Statements Of Stockholders' Equity (Parenthetical)
Accounts And Other Receivables - Net (Details)
Accounts And Other Receivables - Net (Tables)
Accounts And Other Receivables ??? Net
Acquisitions
Acquisitions (Tables)
Acquisitions - Asset Acquisition (Details)
Acquisitions - Business Combination (Details)
Commitments And Contingencies
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 - Antidilutive Common Stock Equivalents (Details)
Earnings Per Share - Dividend Activity (Details)
Earnings Per Share - Schedule Of Earnings Per Share (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Narrative (Details)
Goodwill And Intangible Assets - Schedule Of Changes In Carrying Amount Of Goodwill (Details)
Goodwill And Intangible Assets - Schedule Of Gross Carrying Value And Accumulated Amortization For Each Major Class Of Intangible Asset (Details)
Income Taxes
Income Taxes (Details)
Inventories
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Inventories (Tables)
Leases
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Leases - Components Of Lease Expense (Details)
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Organization, Operations And Basis Of Presentation
Organization, Operations And Basis Of Presentation (Details)
Recent Accounting Pronouncements
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Revenues
Revenues (Tables)
Revenues - Disaggregation Of Revenue (Details)
Revenues - Narrative (Details)
Revenues - Summary Of Deferred Revenue And Customer Advances (Details)
Subsequent Events
Subsequent Events (Details)

Material Contracts, Statements, Certifications & more

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

Ticker: ASIX
CIK: 1673985
Form Type: 10-Q Quarterly Report
Accession Number: 0001673985-22-000057
Submitted to the SEC: Fri May 06 2022 4:25:04 PM EST
Accepted by the SEC: Fri May 06 2022
Period: Thursday, March 31, 2022
Industry: Plastic Materials Synth Resins And Nonvulcan Elastomers

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