Ascent Industries Reports Second Quarter 2023 Results
Second Quarter 2023 Summary – Continuing Operations1
(in millions, expect per share and margin) |
Q2 2023 |
Q2 2022 |
Change |
Net Sales |
|
|
- |
Gross Profit |
|
|
- |
Gross Profit Margin |
|
|
-1860bps |
Net Income (Loss) |
|
|
- |
Diluted Earnings (Loss) per Share |
|
|
- |
Adjusted EBITDA |
|
|
- |
Adjusted EBITDA Margin |
(2.4)% |
|
-1980bps |
1On June 2, 2023, the Board of Directors of Ascent made the decision to permanently cease operations at the Company’s welded pipe and tube facility located in |
Management Commentary
“Challenges related to the strategic changes we’ve implemented over the last several quarters, along with difficult end market conditions impacting demand, continued to persist in the second quarter,” said Chris Hutter, president and CEO of Ascent. “Despite this difficult environment, our organization took action by finalizing the permanent closure of our
“We remain highly committed to executing our strategic goals and believe the operational changes we’ve made will significantly benefit the Company’s value proposition over the long-term. Although the work is never done, we have made tangible progress to right-size our operational footprint, create a more efficient organization, and implement a refreshed culture based on accountability and performance-based results. We believe the largest hurdles are now behind us and expect to begin seeing improvements through the remainder of the year.”
Second Quarter 2023 Financial Results
Net sales from continuing operations were
Gross profit from continuing operations was
Net loss from continuing operations was
Adjusted EBITDA was
Segment Results
Ascent Tubular – net sales from continuing operations in the second quarter of 2023 were
Ascent Chemicals – net sales in the second quarter of 2023 were
Liquidity
As of June 30, 2023, total debt was
During the second quarter of 2023, the Company repurchased 18,843 shares at an average cost of
Conference Call
Ascent will conduct a conference call today at 5:00 p.m. Eastern time to discuss its results for the second quarter ended June 30, 2023.
Ascent management will host the conference call, followed by a question and answer period.
Date: Tuesday, August 8, 2023
Time: 5:00 p.m. Eastern time
Live Call Registration Link: Here
Webcast Registration Link: Here
Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Group at 1-949-574-3860.
The conference call will also be broadcast live and available for replay here. The webcast will be archived for one year in the investor relations section of the Company’s website at www.ascentco.com.
About Ascent Industries Co.
Ascent Industries Co. (Nasdaq: ACNT) is a company that engages in a number of diverse business activities including the production of stainless steel, the master distribution of seamless carbon pipe and tube, and the production of specialty chemicals. For more information about Ascent, please visit its web site at www.ascentco.com.
Forward-Looking Statements
This press release may include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and other applicable federal securities laws. All statements that are not historical facts are forward-looking statements. Forward looking statements can be identified through the use of words such as "estimate," "project," "intend," "expect," "believe," "should," "anticipate," "hope," "optimistic," "plan," "outlook," "should," "could," "may" and similar expressions. The forward-looking statements are subject to certain risks and uncertainties which could cause actual results to differ materially from historical results or those anticipated. Readers are cautioned not to place undue reliance on these forward-looking statements and to review the risks as set forth in more detail in Ascent Industries Co.’s Securities and Exchange Commission filings, including our Annual Report on Form 10-K, which filings are available from the SEC or on our website. Ascent Industries Co. assumes no obligation to update any forward-looking information included in this release.
Non-GAAP Financial Information
Financial statement information included in this earnings release includes non-GAAP (Generally Accepted Accounting Principles) measures and should be read along with the accompanying tables which provide a reconciliation of non-GAAP measures to GAAP measures.
Adjusted EBITDA is a non-GAAP financial measure that the Company believes is useful to investors in evaluating its results to determine the value of a company. An item is excluded in the measure if its periodic value is inconsistent and sufficiently material that not identifying the item would render period comparability less meaningful to the reader or if including the item provides a clearer representation of normalized periodic earnings. The Company excludes in Adjusted EBITDA two categories of items: 1) Base EBITDA components, including: interest expense (including change in fair value of interest rate swap), income taxes, depreciation and amortization, and 2) Material transaction costs including: goodwill impairment, asset impairment, gain on lease modification, stock-based compensation, non-cash lease cost, acquisition costs and other fees, proxy contest costs and recoveries, shelf registration costs, loss on extinguishment of debt, earn-out adjustments, realized and unrealized (gains) and losses on investments in equity securities and other investments, retention costs and restructuring & severance costs from net income.
Management believes that these non-GAAP measures are useful because they are key measures used by our management team to evaluate our operating performance, generate future operating plans and make strategic decisions as well as allow readers to compare the financial results between periods. Non-GAAP measures should not be considered as an alternative to any measure of performance or financial condition as promulgated under GAAP, and investors should consider the Company's performance and financial condition as reported under GAAP and all other relevant information when assessing the performance or financial condition of the Company. Non-GAAP measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the Company's results or financial condition as reported under GAAP.
Ascent Industries Co. |
|||||||
Condensed Consolidated Balance Sheets |
|||||||
(in thousands, except par value and share data) |
|||||||
|
(Unaudited) |
|
|
||||
|
June 30, 2023 |
|
December 31, 2022 |
||||
Assets |
|
|
|
||||
Current assets: |
|
|
|
||||
Cash and cash equivalents |
$ |
717 |
|
|
$ |
1,440 |
|
Accounts receivable, net of allowance for credit losses of |
|
35,053 |
|
|
|
37,062 |
|
Inventories |
|
74,300 |
|
|
|
85,572 |
|
Prepaid expenses and other current assets |
|
9,186 |
|
|
|
7,802 |
|
Assets held for sale |
|
17,398 |
|
|
|
380 |
|
Current assets of discontinued operations |
|
3,441 |
|
|
|
38,120 |
|
Total current assets |
|
140,095 |
|
|
|
170,376 |
|
Property, plant and equipment, net |
|
34,364 |
|
|
|
37,045 |
|
Right-of-use assets, operating leases, net |
|
28,509 |
|
|
|
29,198 |
|
Goodwill |
|
11,389 |
|
|
|
11,389 |
|
Intangible assets, net |
|
9,248 |
|
|
|
10,001 |
|
Deferred income taxes |
|
6,869 |
|
|
|
1,353 |
|
Deferred charges, net |
|
153 |
|
|
|
203 |
|
Other non-current assets, net |
|
1,782 |
|
|
|
1,861 |
|
Long-term assets of discontinued operations |
|
13 |
|
|
|
7,617 |
|
Total assets |
$ |
232,422 |
|
|
$ |
269,043 |
|
|
|
|
|
||||
Liabilities and Shareholders' Equity |
|
|
|
||||
Current liabilities: |
|
|
|
||||
Accounts payable |
$ |
22,242 |
|
|
$ |
19,623 |
|
Accrued expenses and other current liabilities |
|
5,504 |
|
|
|
6,039 |
|
Current portion of note payable |
|
900 |
|
|
|
387 |
|
Current portion of long-term debt |
|
2,464 |
|
|
|
2,464 |
|
Current portion of operating lease liabilities |
|
1,093 |
|
|
|
1,029 |
|
Current portion of finance lease liabilities |
|
283 |
|
|
|
280 |
|
Current liabilities of discontinued operations |
|
1,839 |
|
|
|
3,656 |
|
Total current liabilities |
|
34,325 |
|
|
|
33,478 |
|
Long-term debt |
|
52,056 |
|
|
|
69,085 |
|
Long-term portion of operating lease liabilities |
|
30,338 |
|
|
|
30,911 |
|
Long-term portion of finance lease liabilities |
|
1,313 |
|
|
|
1,242 |
|
Other long-term liabilities |
|
64 |
|
|
|
68 |
|
Total non-current liabilities |
|
83,771 |
|
|
|
101,306 |
|
Total liabilities |
$ |
118,096 |
|
|
$ |
134,784 |
|
|
|
|
|
||||
Commitments and contingencies |
|
|
|
||||
|
|
|
|
||||
Shareholders' equity: |
|
|
|
||||
Common stock, par value |
$ |
11,085 |
|
|
$ |
11,085 |
|
Capital in excess of par value |
|
46,951 |
|
|
|
47,021 |
|
Retained earnings |
|
65,311 |
|
|
|
85,146 |
|
|
|
123,347 |
|
|
|
143,252 |
|
Less: cost of common stock in treasury - 926,884 and 924,504 shares, respectively |
|
(9,021 |
) |
|
|
(8,993 |
) |
Total shareholders' equity |
|
114,326 |
|
|
|
134,259 |
|
Total liabilities and shareholders' equity |
$ |
232,422 |
|
|
$ |
269,043 |
|
Note: The condensed consolidated balance sheets at December 31, 2022 have been derived from the audited consolidated financial statements at that date. |
Ascent Industries Co. |
||||||||||||||||
Condensed Consolidated Statements of Income (Loss) - Comparative Analysis (Unaudited) |
||||||||||||||||
($ in thousands, except per share data) |
||||||||||||||||
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|||||||||||||
|
|
2023 |
|
|
|
2022 |
|
|
|
2023 |
|
|
|
2022 |
|
|
Net sales |
|
|
|
|
|
|
|
|||||||||
|
Tubular Products |
$ |
39,302 |
|
|
$ |
55,580 |
|
|
$ |
82,922 |
|
|
$ |
111,454 |
|
|
Specialty Chemicals |
|
21,363 |
|
|
|
29,020 |
|
|
|
45,112 |
|
|
|
56,741 |
|
|
All Other |
|
— |
|
|
|
— |
|
|
|
50 |
|
|
|
114 |
|
|
|
|
60,665 |
|
|
|
84,600 |
|
|
|
128,084 |
|
|
|
168,309 |
|
Operating income (loss) from continuing operations |
|
|
|
|
|
|
||||||||||
|
Tubular Products |
|
(105 |
) |
|
|
12,992 |
|
|
|
1,560 |
|
|
|
27,120 |
|
|
Specialty Chemicals |
|
(806 |
) |
|
|
2,627 |
|
|
|
546 |
|
|
|
5,014 |
|
|
All Other |
|
(74 |
) |
|
|
(235 |
) |
|
|
(552 |
) |
|
|
(317 |
) |
|
|
|
|
|
|
|
|
|
||||||||
Corporate |
|
|
|
|
|
|
|
|||||||||
|
Unallocated corporate expenses |
|
(2,750 |
) |
|
|
(3,322 |
) |
|
|
(6,455 |
) |
|
|
(6,351 |
) |
|
Acquisition costs and other |
|
(17 |
) |
|
|
(157 |
) |
|
|
(274 |
) |
|
|
(688 |
) |
|
Total Corporate |
|
(2,767 |
) |
|
|
(3,479 |
) |
|
|
(6,729 |
) |
|
|
(7,039 |
) |
|
Operating income (loss) |
|
(3,752 |
) |
|
|
11,905 |
|
|
|
(5,175 |
) |
|
|
24,778 |
|
|
Interest expense |
|
1,047 |
|
|
|
407 |
|
|
|
2,154 |
|
|
|
810 |
|
|
Other, net |
|
(154 |
) |
|
|
(23 |
) |
|
|
(247 |
) |
|
|
(58 |
) |
Income (loss) from continuing operations before income taxes |
|
(4,645 |
) |
|
|
11,521 |
|
|
|
(7,082 |
) |
|
|
24,026 |
|
|
|
Income tax provision (benefit) |
|
(897 |
) |
|
|
699 |
|
|
|
(1,385 |
) |
|
|
3,197 |
|
|
Income (loss) from continuing operations |
|
(3,748 |
) |
|
|
10,822 |
|
|
|
(5,697 |
) |
|
|
20,829 |
|
|
Income (loss) from discontinued operations, net of tax |
|
(10,888 |
) |
|
|
235 |
|
|
|
(14,138 |
) |
|
|
488 |
|
Net income (loss) |
$ |
(14,636 |
) |
|
$ |
11,057 |
|
|
$ |
(19,835 |
) |
|
$ |
21,317 |
|
|
|
|
|
|
|
|
|
|
|
||||||||
Net income (loss) per common share from continuing operations |
|
|
|
|
|
|
|
|||||||||
|
Basic |
$ |
(0.37 |
) |
|
$ |
1.06 |
|
|
$ |
(0.56 |
) |
|
$ |
2.04 |
|
|
Diluted |
$ |
(0.37 |
) |
|
$ |
1.04 |
|
|
$ |
(0.56 |
) |
|
$ |
2.01 |
|
|
|
|
|
|
|
|
|
|
||||||||
Net income (loss) per common share from discontinued operations |
|
|
|
|
|
|
|
|||||||||
|
Basic |
$ |
(1.07 |
) |
|
$ |
0.02 |
|
|
$ |
(1.39 |
) |
|
$ |
0.05 |
|
|
Diluted |
$ |
(1.07 |
) |
|
$ |
0.02 |
|
|
$ |
(1.39 |
) |
|
$ |
0.05 |
|
|
|
|
|
|
|
|
|
|
||||||||
Net income (loss) per common share |
|
|
|
|
|
|
|
|||||||||
|
Basic |
$ |
(1.44 |
) |
|
$ |
1.08 |
|
|
$ |
(1.95 |
) |
|
$ |
2.08 |
|
|
Diluted |
$ |
(1.44 |
) |
|
$ |
1.06 |
|
|
$ |
(1.95 |
) |
|
$ |
2.05 |
|
|
|
|
|
|
|
|
|
|
||||||||
Average shares outstanding |
|
|
|
|
|
|
|
|||||||||
|
Basic |
|
10,170 |
|
|
|
10,244 |
|
|
|
10,159 |
|
|
|
10,226 |
|
|
Diluted |
|
10,170 |
|
|
|
10,431 |
|
|
|
10,159 |
|
|
|
10,377 |
|
|
|
|
|
|
|
|
|
|
||||||||
Other data: |
|
|
|
|
|
|
|
|||||||||
|
Adjusted EBITDA1 |
$ |
(1,471 |
) |
|
$ |
14,751 |
|
|
$ |
(166 |
) |
|
$ |
30,680 |
|
1The term Adjusted EBITDA is a non-GAAP financial measure that the Company believes is useful to investors in evaluating its results to determine the value of a company. An item is excluded in the measure if its periodic value is inconsistent and sufficiently material that not identifying the item would render period comparability less meaningful to the reader or if including the item provides a clearer representation of normalized periodic earnings. The Company excludes in Adjusted EBITDA two categories of items: 1) Base EBITDA components, including: interest expense (including change in fair value of interest rate swap), income taxes, depreciation and amortization, and 2) Material transaction costs including: goodwill impairment, asset impairment, gain on lease modification, stock-based compensation, non-cash lease cost, acquisition costs and other fees, proxy contest costs and recoveries, loss on extinguishment of debt, earn-out adjustments, realized and unrealized (gains) and losses on investments in equity securities and other investments, retention costs and restructuring & severance costs from net income. For a reconciliation of this non-GAAP measure to the most comparable GAAP equivalent, refer to the Reconciliation of Net Income (Loss) to Adjusted EBITDA. |
Ascent Industries Co. |
|||||||
Consolidated Statements of Cash Flows (Unaudited) |
|||||||
($ in thousands) |
|||||||
|
Six Months Ended June 30, |
||||||
|
2023 |
|
2022 |
||||
Operating activities |
|
|
|
||||
Net income (loss) |
$ |
(19,835 |
) |
|
$ |
21,317 |
|
Net income (loss) from discontinued operations, net of tax |
|
(14,138 |
) |
|
|
488 |
|
Net income (loss) from continuing operations |
|
(5,697 |
) |
|
|
20,829 |
|
Adjustments to reconcile net income (loss) to net cash provided by operating activities: |
|
|
|
||||
Depreciation expense |
|
3,243 |
|
|
|
3,201 |
|
Amortization expense |
|
753 |
|
|
|
1,343 |
|
Amortization of debt issuance costs |
|
50 |
|
|
|
49 |
|
Deferred income taxes |
|
(5,515 |
) |
|
|
(642 |
) |
Payments of earn-out liabilities in excess of acquisition date fair value |
|
— |
|
|
|
(372 |
) |
(Reduction of) provision for losses on accounts receivable |
|
(28 |
) |
|
|
459 |
|
Provision for losses on inventories |
|
1,190 |
|
|
|
863 |
|
Loss (gain) on disposal of property, plant and equipment |
|
182 |
|
|
|
(5 |
) |
Non-cash lease expense |
|
137 |
|
|
|
214 |
|
Issuance of treasury stock for director fees |
|
— |
|
|
|
364 |
|
Stock-based compensation expense |
|
414 |
|
|
|
446 |
|
Changes in operating assets and liabilities: |
|
|
|
||||
Accounts receivable |
|
2,037 |
|
|
|
(10,173 |
) |
Inventories |
|
10,279 |
|
|
|
(27,738 |
) |
Other assets and liabilities |
|
(295 |
) |
|
|
(755 |
) |
Accounts payable |
|
2,095 |
|
|
|
14,476 |
|
Accrued expenses |
|
(587 |
) |
|
|
(1,980 |
) |
Accrued income taxes |
|
(743 |
) |
|
|
110 |
|
Net cash provided by operating activities - continuing operations |
|
7,515 |
|
|
|
689 |
|
Net cash provided by operating activities - discontinued operations |
|
10,557 |
|
|
|
2,200 |
|
Net cash provided by operating activities |
|
18,072 |
|
|
|
2,889 |
|
Investing activities |
|
|
|
||||
Purchases of property, plant and equipment |
|
(1,483 |
) |
|
|
(1,981 |
) |
Proceeds from disposal of property, plant and equipment |
|
— |
|
|
|
5 |
|
Net cash used in investing activities - continuing operations |
|
(1,483 |
) |
|
|
(1,976 |
) |
Net cash used in investing activities - discontinued operations |
|
(142 |
) |
|
|
(349 |
) |
Net cash used in investing activities |
|
(1,625 |
) |
|
|
(2,325 |
) |
Financing activities |
|
|
|
||||
Borrowings from long-term debt |
|
139,137 |
|
|
|
237,938 |
|
Proceeds from note payable |
|
900 |
|
|
|
967 |
|
Proceeds from the exercise of stock options |
|
— |
|
|
|
161 |
|
Payments on long-term debt |
|
(156,166 |
) |
|
|
(240,017 |
) |
Payments on note payable |
|
(387 |
) |
|
|
(96 |
) |
Principal payments on finance lease obligations |
|
(151 |
) |
|
|
(126 |
) |
Payments on earn-out liabilities |
|
— |
|
|
|
(484 |
) |
Repurchase of common stock |
|
(504 |
) |
|
|
— |
|
Net cash used in financing activities - continuing operations |
|
(17,171 |
) |
|
|
(1,657 |
) |
Net cash used in financing activities - discontinued operations |
|
— |
|
|
|
(683 |
) |
Net cash used in financing activities |
|
(17,171 |
) |
|
|
(2,340 |
) |
Decrease in cash and cash equivalents |
|
(724 |
) |
|
|
(1,776 |
) |
Less: Cash and cash equivalents of discontinued operations |
|
1 |
|
|
|
4 |
|
Cash and cash equivalents, beginning of period |
|
1,440 |
|
|
|
2,017 |
|
Cash and cash equivalents, end of period |
$ |
717 |
|
|
$ |
245 |
|
Ascent Industries Co. |
||||||||||||||||
Non-GAAP Financial Measures Reconciliation |
||||||||||||||||
Reconciliation of Net Income to Adjusted EBITDA (Unaudited) |
||||||||||||||||
($ in thousands) |
||||||||||||||||
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|||||||||||||
($ in thousands) |
2023 |
|
2022 |
|
2023 |
|
2022 |
|||||||||
Consolidated |
|
|
|
|
|
|
|
|||||||||
Net income (loss) from continuing operations |
$ |
(3,748 |
) |
|
$ |
10,822 |
|
|
$ |
(5,697 |
) |
|
$ |
20,687 |
|
|
Adjustments: |
|
|
|
|
|
|
|
|||||||||
|
Interest expense |
|
1,047 |
|
|
|
407 |
|
|
|
2,154 |
|
|
|
810 |
|
|
Income taxes |
|
(897 |
) |
|
|
699 |
|
|
|
(1,385 |
) |
|
|
3,339 |
|
|
Depreciation |
|
1,632 |
|
|
|
1,621 |
|
|
|
3,243 |
|
|
|
3,201 |
|
|
Amortization |
|
376 |
|
|
|
672 |
|
|
|
753 |
|
|
|
1,343 |
|
EBITDA |
|
(1,590 |
) |
|
|
14,221 |
|
|
|
(932 |
) |
|
|
29,380 |
|
|
|
Acquisition costs and other |
|
20 |
|
|
|
157 |
|
|
|
280 |
|
|
|
688 |
|
|
Gain on lease modification |
|
— |
|
|
|
(2 |
) |
|
|
— |
|
|
|
(2 |
) |
|
Stock-based compensation |
|
24 |
|
|
|
258 |
|
|
|
246 |
|
|
|
390 |
|
|
Non-cash lease expense |
|
68 |
|
|
|
107 |
|
|
|
137 |
|
|
|
214 |
|
|
Restructuring and severance costs |
|
7 |
|
|
|
10 |
|
|
|
103 |
|
|
|
10 |
|
Adjusted EBITDA |
$ |
(1,471 |
) |
|
$ |
14,751 |
|
|
$ |
(166 |
) |
|
$ |
30,680 |
|
|
|
% sales |
|
(2.4 |
)% |
|
|
17.4 |
% |
|
|
(0.1 |
)% |
|
|
18.2 |
% |
|
|
|
|
|
|
|
|
|
||||||||
Tubular Products |
|
|
|
|
|
|
|
|||||||||
Net income (loss) from continuing operations |
$ |
(105 |
) |
|
$ |
12,993 |
|
|
$ |
1,560 |
|
|
$ |
27,120 |
|
|
Adjustments: |
|
|
|
|
|
|
|
|||||||||
|
Depreciation expense |
|
653 |
|
|
|
688 |
|
|
|
1,290 |
|
|
|
1,363 |
|
|
Amortization expense |
|
218 |
|
|
|
576 |
|
|
|
436 |
|
|
|
1,152 |
|
EBITDA |
|
766 |
|
|
|
14,257 |
|
|
|
3,286 |
|
|
|
29,635 |
|
|
|
Acquisition costs and other |
|
4 |
|
|
|
— |
|
|
|
4 |
|
|
|
— |
|
|
Stock-based compensation |
|
10 |
|
|
|
(16 |
) |
|
|
(9 |
) |
|
|
19 |
|
|
Non-cash lease expense |
|
36 |
|
|
|
(1 |
) |
|
|
72 |
|
|
|
(1 |
) |
|
Restructuring and severance costs |
|
— |
|
|
|
— |
|
|
|
97 |
|
|
|
— |
|
Tubular Products Adjusted EBITDA |
$ |
816 |
|
|
$ |
14,240 |
|
|
$ |
3,450 |
|
|
$ |
29,653 |
|
|
|
% segment sales |
|
2.1 |
% |
|
|
25.6 |
% |
|
|
4.2 |
% |
|
|
26.6 |
% |
|
|
|
|
|
|
|
|
|
||||||||
Specialty Chemicals |
|
|
|
|
|
|
|
|||||||||
Net income (loss) |
$ |
(818 |
) |
|
$ |
2,617 |
|
|
$ |
523 |
|
|
$ |
4,995 |
|
|
Adjustments: |
|
|
|
|
|
|
|
|||||||||
|
Interest expense |
|
18 |
|
|
|
9 |
|
|
|
31 |
|
|
|
18 |
|
|
Depreciation expense |
|
956 |
|
|
|
915 |
|
|
|
1,908 |
|
|
|
1,800 |
|
|
Amortization expense |
|
158 |
|
|
|
96 |
|
|
|
317 |
|
|
|
192 |
|
EBITDA |
|
314 |
|
|
|
3,637 |
|
|
|
2,779 |
|
|
|
7,005 |
|
|
|
Acquisition costs and other |
|
— |
|
|
|
— |
|
|
|
2 |
|
|
|
— |
|
|
Stock-based compensation |
|
(23 |
) |
|
|
11 |
|
|
|
(16 |
) |
|
|
18 |
|
|
Non-cash lease expense |
|
22 |
|
|
|
— |
|
|
|
46 |
|
|
|
— |
|
Specialty Chemicals Adjusted EBITDA |
$ |
313 |
|
|
$ |
3,648 |
|
|
$ |
2,811 |
|
|
$ |
7,023 |
|
|
|
% segment sales |
|
1.5 |
% |
|
|
12.6 |
% |
|
|
6.2 |
% |
|
|
12.4 |
% |
View source version on businesswire.com: https://www.businesswire.com/news/home/20230808299203/en/
Company Contact
Bill Steckel
Chief Financial Officer
1-630-884-9181
Investor Relations
Cody Slach and Cody Cree
Gateway Group, Inc.
1-949-574-3860
ACNT@gateway-grp.com
Source: Ascent Industries Co.
