Advansix Inc. (ASIX) 10-Q Quarterly Report May 2023

- AdvanSix (NYSE: ASIX) today announced its financial results for the first quarter ending March 31, 2023. Overall, the Company continued to execute and progress its core strategies to deliver solid earnings results amid a continued dynamic macro environment.

First Quarter 2023 Summary

•Sales down approximately 16% versus prior year driven by 9% lower volume, 6% unfavorable impact of market-based pricing and 4% lower raw material pass-through pricing, partially offset by 3% contribution from acquisitions

•Net Income of $35.0 million, a decrease of $28.1 million versus the prior year

•Adjusted EBITDA of $65.4 million, a decrease of $37.8 million versus the prior year

•Cash Flow from Operations of $1.6 million, a decrease of $47.6 million versus the prior year

•Capital Expenditures of $24.6 million, an increase of $3.6 million versus the prior year

•Free Cash Flow of ($23.0) million, a decrease of $51.2 million versus the prior year

•Repurchased 333,054 shares for approximately $13.5 million in 1Q23

“As a diversified chemistry company, our first quarter performance reflects the resilience of our business model and our team's ability and commitment to perform through various economic and industry conditions," said Erin Kane, president and CEO of AdvanSix. "We delivered solid earnings results in the current macro environment and against a record first quarter in the prior year period. Our performance was achieved in an environment that saw nitrogen fertilizer pricing reset amid lower energy costs and improved supply. While down from last year's peak levels, Ammonium Sulfate value pricing remains robust and we continue to be well positioned to serve our key plant nutrients customers as the season progresses. While headwinds in consumer durables and building and construction end markets persist across portions of our nylon and chemical intermediates portfolio, North American acetone supply and demand continues to be balanced supporting our performance. With confidence in the health of our

The following information was filed by Advansix Inc. (ASIX) on Friday, May 5, 2023 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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Inside Advansix Inc.'s 10-Q Quarterly Report:

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 10.1: Material Contract

Exhibit 10.2: Material Contract

Exhibit 10.3: 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: 0001673985-23-000073
Submitted to the SEC: Fri May 05 2023 4:17:27 PM EST
Accepted by the SEC: Fri May 05 2023
Period: Friday, March 31, 2023
Industry: Plastic Materials Synth Resins And Nonvulcan Elastomers