AdvanSix Announces Fourth Quarter and Full Year 2024 Financial Results
4Q24 Sales of
4Q24 Earnings Per Share of
4Q24 Cash Flow from Operations of
Progressing 45Q carbon capture tax credits with initial
Final insurance settlement proceeds related to 2019 PES supplier shutdown
Full Year 2024 Summary
-
Sales down approximately
1% versus prior year driven by an approximately2% decrease in volume primarily as a result of disclosed operational disruptions, partially offset by a1% favorable net pricing impact -
Net Income of
, a decrease of$44.1 million versus the prior year$10.5 million -
Adjusted EBITDA of
, a decrease of$142.1 million versus the prior year$11.4 million -
Adjusted EBITDA Margin of
9.4% , down 60 bps versus the prior year -
Cash Flow from Operations of
, an increase of$135.4 million versus the prior year$17.9 million -
Capital Expenditures of
, an increase of$133.7 million versus the prior year$26.3 million -
Free Cash Flow of
, a decrease of$1.7 million versus the prior year$8.5 million
Summary full year 2024 financial results for the Company are included below:
($ in Thousands, Except Earnings Per Share) |
FY 2024 |
|
FY 2023 |
Sales |
|
|
|
Net Income |
|
|
|
Diluted Earnings Per Share |
|
|
|
Adjusted Diluted Earnings Per Share (1) |
|
|
|
Adjusted EBITDA (1) |
142,116 |
|
153,559 |
Adjusted EBITDA Margin % (1) |
|
|
|
Cash Flow from Operations |
135,413 |
|
117,550 |
Free Cash Flow (1)(2) |
1,691 |
|
10,173 |
(1) See “Non-GAAP Measures” included in this press release for non-GAAP reconciliations |
|||
(2) Net cash provided by operating activities less capital expenditures |
Sales by product line and approximate percentage of total sales are included below:
($ in Thousands) |
FY 2024 |
|
FY 2023 (1) |
||||||
|
Sales |
|
% of Total |
|
Sales |
|
% of Total |
||
Nylon |
$ |
348,501 |
|
|
|
$ |
356,632 |
|
|
Caprolactam |
|
276,303 |
|
|
|
|
298,375 |
|
|
Plant Nutrients |
|
458,152 |
|
|
|
|
477,929 |
|
|
Chemical Intermediates |
|
434,601 |
|
|
|
|
400,663 |
|
|
Total |
$ |
1,517,557 |
|
|
|
$ |
1,533,599 |
|
|
(1) Previously reported amounts have been updated for a reclassification to align more closely with the Company's current sales structure, resulting in an increase to Plant Nutrients and a decrease to Chemical Intermediates for FY 2023. Total revenue amounts were not impacted. |
“Our diverse portfolio, advantage of our business model and favorable industry dynamics - particularly in Plant Nutrients and Acetone - enabled us to successfully navigate a challenging operational year and deliver full year Adjusted EBITDA of
Fourth Quarter 2024 Summary
-
Sales down approximately
14% versus prior year driven by an approximately16% decrease in volume primarily as a result of the extended plant turnaround, partially offset by2% favorable impact of market-based pricing -
Net Income of
, an increase of$0.4 million versus the prior year$5.4 million -
Adjusted EBITDA of
, a decrease of$10.2 million versus the prior year$4.9 million -
Adjusted EBITDA Margin of
3.1% , down 90 bps versus the prior year -
Cash Flow from Operations of
, an increase of$64.2 million versus the prior year$4.0 million -
Capital Expenditures of
, a decrease of$34.3 million versus the prior year$4.0 million -
Free Cash Flow of
, an increase of$29.8 million versus the prior year$8.0 million -
in 45Q carbon capture tax credits for the 2018 and 2019 tax periods$9.7 million
Summary fourth quarter 2024 financial results for the Company are included below:
($ in Thousands, Except Earnings Per Share) |
4Q 2024 |
|
4Q 2023 |
Sales |
|
|
|
Net Income (Loss) |
352 |
|
(5,082) |
Diluted Earnings Per Share |
|
|
( |
Adjusted Diluted Earnings Per Share (1) |
|
|
( |
Adjusted EBITDA (1) |
10,219 |
|
15,099 |
Adjusted EBITDA Margin % (1) |
|
|
|
Cash Flow from Operations |
64,165 |
|
60,169 |
Free Cash Flow (1)(2) |
29,816 |
|
21,817 |
(1) See “Non-GAAP Measures” included in this press release for non-GAAP reconciliations |
|||
(2) Net cash provided by operating activities less capital expenditures |
Sales of
Sales by product line and approximate percentage of total sales are included below:
($ in Thousands) |
4Q 2024 |
|
4Q 2023 (1) |
||||||
|
Sales |
|
% of Total |
|
Sales |
|
% of Total |
||
Nylon |
$ |
67,172 |
|
|
|
$ |
78,251 |
|
|
Caprolactam |
|
57,216 |
|
|
|
|
82,508 |
|
|
Plant Nutrients |
|
102,566 |
|
|
|
|
119,119 |
|
|
Chemical Intermediates |
|
102,109 |
|
|
|
|
102,330 |
|
|
Total |
$ |
329,063 |
|
|
|
$ |
382,209 |
|
|
(1) Previously reported amounts have been updated for a reclassification to align more closely with the Company's current sales structure, resulting in an increase to Plant Nutrients and a decrease to Chemical Intermediates for 4Q 2023. Total revenue amounts were not impacted. |
Adjusted EBITDA of
Adjusted earnings per share of
Cash flow from operations of
Outlook
- Strong sulfur nutrition demand and tight North American ammonium sulfate supply expected to support sulfur premiums at or near high end of historical range; Anticipated higher raw material prices impacting fertilizer margins
- Balanced global acetone supply and demand conditions expected to support industry spreads above cycle averages
- Expect slower recovery off the trough for North American nylon industry conditions amid stable end market demand and increased domestic competitive pressure
-
Expect Capital Expenditures of
to$140 in 2025, reflecting the planned progression of growth projects including our SUSTAIN (Sustainable$160 million U.S. Sulfate to Accelerate Increased Nutrition) program, and refined execution timing to address critical enterprise risk mitigation -
Expect pre-tax income impact of plant turnarounds to be
to$25 in 2025 versus approximately$30 million in 2024$58 million -
Final omnibus settlement of approximately
in 1Q25 related to PES supplier shutdown; Total of approximately$26 million aggregated insurance proceeds since 2019 event$39 million
“While the year has been off to a slower start, particularly with approximately
Dividend
The Company's Board of Directors declared a quarterly cash dividend of
Conference Call Information
AdvanSix will discuss its results during its investor conference call today starting at 9:30 a.m. ET. To participate on the conference call, dial (844) 855-9494 (domestic) or (412) 858-4602 (international) approximately 10 minutes before the 9:30 a.m. ET start, and tell the operator that you are dialing in for AdvanSix’s fourth quarter 2024 earnings call. The live webcast of the investor call as well as related presentation materials can be accessed at http://investors.advansix.com. Investors can hear a replay of the conference call from 12 noon ET on February 21 until 12 noon ET on February 28 by dialing (877) 344-7529 (domestic) or (412) 317-0088 (international). The access code is 6798006.
About AdvanSix
AdvanSix is a diversified chemistry company that produces essential materials for our customers in a wide variety of end markets and applications that touch people’s lives. Our integrated value chain of our five
Forward Looking Statements
This release contains certain statements that may be deemed “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, that address activities, events or developments that our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements may be identified by words such as "expect," "anticipate," "estimate," “outlook,” "project," "strategy," "intend," "plan," "target," "goal," "may," "will," "should" and "believe" and other variations or similar terminology and expressions. Although we believe forward-looking statements are based upon reasonable assumptions, such statements involve known and unknown risks, uncertainties and other factors, many of which are beyond our control and difficult to predict, which may cause the actual results or performance of the Company to be materially different from any future results or performance expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to: general economic and financial conditions in the
Non-GAAP Financial Measures
This press release includes certain non-GAAP financial measures intended to supplement, not to act as substitutes for, comparable GAAP measures. Reconciliations of non-GAAP financial measures to GAAP financial measures are provided in this press release. Investors are urged to consider carefully the comparable GAAP measures and the reconciliations to those measures provided. Non-GAAP measures in this press release may be calculated in a way that is not comparable to similarly-titled measures reported by other companies.
AdvanSix Inc. Consolidated Balance Sheets (Unaudited) (Dollars in thousands, except share and per share amounts) |
|||||||
|
December 31, 2024 |
|
December 31, 2023 |
||||
ASSETS |
|
|
|
||||
Current assets: |
|
|
|
||||
Cash and cash equivalents |
$ |
19,564 |
|
|
$ |
29,768 |
|
Accounts and other receivables – net |
|
145,673 |
|
|
|
165,393 |
|
Inventories – net |
|
212,386 |
|
|
|
211,831 |
|
Taxes receivable |
|
503 |
|
|
|
1,434 |
|
Other current assets |
|
8,990 |
|
|
|
11,378 |
|
Total current assets |
|
387,116 |
|
|
|
419,804 |
|
|
|
|
|
||||
Property, plant and equipment – net |
|
917,858 |
|
|
|
852,642 |
|
Operating lease right-of-use assets |
|
153,438 |
|
|
|
95,805 |
|
Goodwill |
|
56,192 |
|
|
|
56,192 |
|
Intangible assets |
|
43,144 |
|
|
|
46,193 |
|
Other assets |
|
37,172 |
|
|
|
25,384 |
|
Total assets |
$ |
1,594,920 |
|
|
$ |
1,496,020 |
|
|
|
|
|
||||
LIABILITIES |
|
|
|
||||
Current liabilities: |
|
|
|
||||
Accounts payable |
$ |
228,761 |
|
|
$ |
259,068 |
|
Accrued liabilities |
|
47,264 |
|
|
|
44,086 |
|
Operating lease liabilities – short-term |
|
42,493 |
|
|
|
32,053 |
|
Income taxes payable |
|
1,047 |
|
|
|
8,033 |
|
Deferred income and customer advances |
|
37,538 |
|
|
|
15,678 |
|
Total current liabilities |
|
357,103 |
|
|
|
358,918 |
|
|
|
|
|
||||
Deferred income taxes |
|
145,299 |
|
|
|
151,059 |
|
Operating lease liabilities – long-term |
|
111,400 |
|
|
|
63,961 |
|
Line of credit – long-term |
|
195,000 |
|
|
|
170,000 |
|
Postretirement benefit obligations |
|
— |
|
|
|
3,660 |
|
Other liabilities |
|
11,468 |
|
|
|
9,185 |
|
Total liabilities |
|
820,270 |
|
|
|
756,783 |
|
|
|
|
|
||||
STOCKHOLDERS' EQUITY |
|
|
|
||||
Common stock, par value |
|
330 |
|
|
|
326 |
|
Preferred stock, par value |
|
— |
|
|
|
— |
|
Treasury stock at par (6,252,129 shares at December 31, 2024; 5,848,475 shares at December 31, 2023) |
|
(63 |
) |
|
|
(58 |
) |
Additional paid-in capital |
|
136,872 |
|
|
|
138,046 |
|
Retained earnings |
|
631,541 |
|
|
|
605,067 |
|
Accumulated other comprehensive income (loss) |
|
5,970 |
|
|
|
(4,144 |
) |
Total stockholders' equity |
|
774,650 |
|
|
|
739,237 |
|
Total liabilities and stockholders' equity |
$ |
1,594,920 |
|
|
$ |
1,496,020 |
|
AdvanSix Inc. Consolidated Statements of Operations (Unaudited) (Dollars in thousands, except share and per share amounts) |
||||||||||||||
|
Three Months Ended December 31, |
|
Twelve Months Ended December 31, |
|||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
2023 |
|
Sales |
$ |
329,063 |
|
|
$ |
382,208 |
|
|
$ |
1,517,557 |
|
$ |
1,533,599 |
|
|
|
|
|
|
|
|
|
|||||||
Costs, expenses and other: |
|
|
|
|
|
|
|
|||||||
Costs of goods sold |
|
317,762 |
|
|
|
363,667 |
|
|
|
1,364,621 |
|
|
1,368,511 |
|
Selling, general and administrative expenses |
|
21,734 |
|
|
|
24,828 |
|
|
|
94,023 |
|
|
95,538 |
|
Interest expense, net |
|
2,174 |
|
|
|
2,189 |
|
|
|
11,311 |
|
|
7,485 |
|
Other non-operating (income) expense, net |
|
218 |
|
|
|
(240 |
) |
|
|
2,027 |
|
|
(7,158 |
) |
Total costs, expenses and other |
|
341,888 |
|
|
|
390,444 |
|
|
|
1,471,982 |
|
|
1,464,376 |
|
|
|
|
|
|
|
|
|
|||||||
Income (loss) before taxes |
|
(12,825 |
) |
|
|
(8,236 |
) |
|
|
45,575 |
|
|
69,223 |
|
Income tax expense (benefit) |
|
(13,177 |
) |
|
|
(3,154 |
) |
|
|
1,426 |
|
|
14,600 |
|
Net income (loss) |
$ |
352 |
|
|
$ |
(5,082 |
) |
|
$ |
44,149 |
|
$ |
54,623 |
|
|
|
|
|
|
|
|
|
|||||||
Earnings per common share |
|
|
|
|
|
|
|
|||||||
Basic |
$ |
0.01 |
|
|
$ |
(0.19 |
) |
|
$ |
1.65 |
|
$ |
2.00 |
|
Diluted |
$ |
0.01 |
|
|
$ |
(0.19 |
) |
|
$ |
1.62 |
|
$ |
1.95 |
|
|
|
|
|
|
|
|
|
|||||||
Weighted average common shares outstanding |
|
|
|
|
|
|
|
|||||||
Basic |
|
26,805,182 |
|
|
|
26,911,754 |
|
|
|
26,828,338 |
|
|
27,302,254 |
|
Diluted |
|
27,234,784 |
|
|
|
26,911,754 |
|
|
|
27,255,213 |
|
|
28,007,630 |
|
AdvanSix Inc. Consolidated Statements of Cash Flows (Unaudited) (Dollars in thousands) |
|||||||||||||||
|
Three Months Ended December 31, |
|
Twelve Months Ended December 31, |
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
Cash flows from operating activities: |
|
|
|
|
|
|
|
||||||||
Net income (loss) |
$ |
352 |
|
|
$ |
(5,082 |
) |
|
$ |
44,149 |
|
|
$ |
54,623 |
|
Adjustments to reconcile net income (loss) to net cash provided by operating activities: |
|
|
|
|
|
|
|
||||||||
Depreciation and amortization |
|
18,979 |
|
|
|
18,673 |
|
|
|
76,176 |
|
|
|
73,010 |
|
Loss on disposal of assets |
|
358 |
|
|
|
342 |
|
|
|
773 |
|
|
|
1,281 |
|
Deferred income taxes |
|
(12,629 |
) |
|
|
(10,416 |
) |
|
|
(8,991 |
) |
|
|
(9,347 |
) |
Stock-based compensation |
|
1,891 |
|
|
|
2,473 |
|
|
|
7,854 |
|
|
|
8,313 |
|
Amortization of deferred financing fees |
|
154 |
|
|
|
154 |
|
|
|
618 |
|
|
|
618 |
|
Operational asset adjustments |
|
— |
|
|
|
— |
|
|
|
1,200 |
|
|
|
(4,472 |
) |
Changes in assets and liabilities, net of business acquisitions: |
|
|
|
|
|
|
|
||||||||
Accounts and other receivables |
|
3,342 |
|
|
|
(20,696 |
) |
|
|
18,411 |
|
|
|
21,489 |
|
Inventories |
|
1,048 |
|
|
|
17,368 |
|
|
|
(555 |
) |
|
|
3,286 |
|
Taxes receivable |
|
(128 |
) |
|
|
64 |
|
|
|
931 |
|
|
|
8,337 |
|
Accounts payable |
|
13,077 |
|
|
|
29,367 |
|
|
|
(30,610 |
) |
|
|
(20,756 |
) |
Income taxes payable |
|
612 |
|
|
|
5,867 |
|
|
|
(6,986 |
) |
|
|
8,003 |
|
Accrued liabilities |
|
(8,562 |
) |
|
|
2,218 |
|
|
|
2,426 |
|
|
|
(5,569 |
) |
Deferred income and customer advances |
|
36,021 |
|
|
|
13,263 |
|
|
|
21,860 |
|
|
|
(18,752 |
) |
Other assets and liabilities |
|
9,650 |
|
|
|
6,574 |
|
|
|
8,157 |
|
|
|
(2,514 |
) |
Net cash provided by operating activities |
|
64,165 |
|
|
|
60,169 |
|
|
|
135,413 |
|
|
|
117,550 |
|
|
|
|
|
|
|
|
|
||||||||
Cash flows from investing activities: |
|
|
|
|
|
|
|
||||||||
Expenditures for property, plant and equipment |
|
(34,349 |
) |
|
|
(38,352 |
) |
|
|
(133,722 |
) |
|
|
(107,377 |
) |
Other investing activities |
|
(3,127 |
) |
|
|
(1,116 |
) |
|
|
(9,180 |
) |
|
|
(3,520 |
) |
Net cash used for investing activities |
|
(37,476 |
) |
|
|
(39,468 |
) |
|
|
(142,902 |
) |
|
|
(110,897 |
) |
|
|
|
|
|
|
|
|
||||||||
Cash flows from financing activities: |
|
|
|
|
|
|
|
||||||||
Borrowings from line of credit |
|
94,500 |
|
|
|
66,000 |
|
|
|
406,000 |
|
|
|
437,000 |
|
Payments of line of credit |
|
(114,500 |
) |
|
|
(66,000 |
) |
|
|
(381,000 |
) |
|
|
(382,000 |
) |
Principal payments of finance leases |
|
(249 |
) |
|
|
(240 |
) |
|
|
(1,011 |
) |
|
|
(938 |
) |
Dividend payments |
|
(4,277 |
) |
|
|
(4,303 |
) |
|
|
(17,135 |
) |
|
|
(16,657 |
) |
Purchase of treasury stock |
|
(1 |
) |
|
|
(8,500 |
) |
|
|
(10,428 |
) |
|
|
(46,151 |
) |
Issuance of common stock |
|
104 |
|
|
|
— |
|
|
|
859 |
|
|
|
876 |
|
Net cash used for financing activities |
|
(24,423 |
) |
|
|
(13,043 |
) |
|
|
(2,715 |
) |
|
|
(7,870 |
) |
|
|
|
|
|
|
|
|
||||||||
Net change in cash and cash equivalents |
|
2,266 |
|
|
|
7,658 |
|
|
|
(10,204 |
) |
|
|
(1,217 |
) |
Cash and cash equivalents at beginning of period |
|
17,298 |
|
|
|
22,110 |
|
|
|
29,768 |
|
|
|
30,985 |
|
Cash and cash equivalents at the end of period |
$ |
19,564 |
|
|
$ |
29,768 |
|
|
$ |
19,564 |
|
|
$ |
29,768 |
|
|
|
|
|
|
|
|
|
||||||||
Supplemental non-cash investing activities: |
|
|
|
|
|
|
|
||||||||
Capital expenditures included in accounts payable |
|
|
|
|
$ |
23,645 |
|
|
$ |
22,660 |
|
AdvanSix Inc. Non-GAAP Measures (Dollars in thousands, except share and per share amounts)
|
|||||||||||||||
|
Three Months Ended December 31, |
|
Twelve Months Ended December 31, |
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
Net cash provided by operating activities |
$ |
64,165 |
|
|
$ |
60,169 |
|
|
$ |
135,413 |
|
|
$ |
117,550 |
|
Expenditures for property, plant and equipment |
|
(34,349 |
) |
|
|
(38,352 |
) |
|
|
(133,722 |
) |
|
|
(107,377 |
) |
Free cash flow (1) |
$ |
29,816 |
|
|
$ |
21,817 |
|
|
$ |
1,691 |
|
|
$ |
10,173 |
|
|
|
|
|
|
|
|
|
||||||||
(1) Free cash flow is a non-GAAP measure defined as Net cash provided by operating activities less Expenditures for property, plant and equipment |
|||||||||||||||
The Company believes that this metric is useful to investors and management as a measure to evaluate our ability to generate cash flow from business operations and the impact that this cash flow has on our liquidity. |
Reconciliation of Net Income to Adjusted EBITDA and Earnings Per Share to Adjusted Earnings Per Share |
|||||||||||||||
|
Three Months Ended December 31, |
|
Twelve Months Ended December 31, |
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
Net income (loss) |
$ |
352 |
|
|
$ |
(5,082 |
) |
|
$ |
44,149 |
|
|
$ |
54,623 |
|
Non-cash stock-based compensation |
|
1,891 |
|
|
|
2,473 |
|
|
|
7,854 |
|
|
|
8,313 |
|
Non-recurring, unusual or extraordinary (income) expense (2) |
|
— |
|
|
|
— |
|
|
|
1,200 |
|
|
|
(4,472 |
) |
Non-cash amortization from acquisitions |
|
531 |
|
|
|
530 |
|
|
|
2,126 |
|
|
|
2,126 |
|
Non-recurring M&A costs |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Income tax benefit relating to reconciling items |
|
(417 |
) |
|
|
(504 |
) |
|
|
(2,011 |
) |
|
|
(661 |
) |
Adjusted Net income (loss) (non-GAAP) |
|
2,357 |
|
|
|
(2,583 |
) |
|
|
53,318 |
|
|
|
59,929 |
|
Interest expense, net |
|
2,174 |
|
|
|
2,189 |
|
|
|
11,311 |
|
|
|
7,485 |
|
Income tax expense (benefit) - Adjusted |
|
(12,760 |
) |
|
|
(2,650 |
) |
|
|
3,437 |
|
|
|
15,261 |
|
Depreciation and amortization - Adjusted |
|
18,448 |
|
|
|
18,143 |
|
|
|
74,050 |
|
|
|
70,884 |
|
Adjusted EBITDA (non-GAAP) |
$ |
10,219 |
|
|
$ |
15,099 |
|
|
$ |
142,116 |
|
|
$ |
153,559 |
|
|
|
|
|
|
|
|
|
||||||||
Sales |
$ |
329,063 |
|
|
$ |
382,208 |
|
|
$ |
1,517,557 |
|
|
$ |
1,533,599 |
|
|
|
|
|
|
|
|
|
||||||||
Adjusted EBITDA Margin (non-GAAP) (3) |
|
3.1 |
% |
|
|
4.0 |
% |
|
|
9.4 |
% |
|
|
10.0 |
% |
|
|
|
|
|
|
|
|
||||||||
(2) 2024 includes a pre-tax loss of approximately |
|||||||||||||||
(3) Adjusted EBITDA Margin is defined as Adjusted EBITDA divided by Sales |
|
Three Months Ended December 31, |
|
Twelve Months Ended December 31, |
|||||||||
|
2024 |
|
|
2023 |
|
|
2024 |
|
2023 |
|||
Net income (loss) |
$ |
352 |
|
$ |
(5,082 |
) |
|
$ |
44,149 |
|
$ |
54,623 |
Adjusted Net income (loss) (non-GAAP) |
|
2,357 |
|
|
(2,583 |
) |
|
|
53,318 |
|
|
59,929 |
|
|
|
|
|
|
|
|
|||||
Weighted-average number of common shares outstanding - basic |
|
26,805,182 |
|
|
26,911,754 |
|
|
|
26,828,338 |
|
|
27,302,254 |
Dilutive effect of equity awards and other stock-based holdings |
|
429,602 |
|
|
— |
|
|
|
426,875 |
|
|
705,376 |
Weighted-average number of common shares outstanding - diluted |
|
27,234,784 |
|
|
26,911,754 |
|
|
|
27,255,213 |
|
|
28,007,630 |
|
|
|
|
|
|
|
|
|||||
EPS - Basic |
$ |
0.01 |
|
$ |
(0.19 |
) |
|
$ |
1.65 |
|
$ |
2.00 |
EPS - Diluted |
$ |
0.01 |
|
$ |
(0.19 |
) |
|
$ |
1.62 |
|
$ |
1.95 |
Adjusted EPS - Basic (non-GAAP) |
$ |
0.09 |
|
$ |
(0.10 |
) |
|
$ |
1.99 |
|
$ |
2.20 |
Adjusted EPS - Diluted (non-GAAP) |
$ |
0.09 |
|
$ |
(0.10 |
) |
|
$ |
1.96 |
|
$ |
2.14 |
The Company believes the non-GAAP financial measures presented in this release provide meaningful supplemental information as they are used by the Company’s management to evaluate the Company’s operating performance, enhance a reader’s understanding of the financial performance of the Company, and facilitate a better comparison among fiscal periods and performance relative to its competitors, as these non-GAAP measures exclude items that are not considered core to the Company’s operations. |
AdvanSix Inc. Appendix (Pre-tax income impact, Dollars in millions)
|
||||||
|
1Q |
2Q |
3Q |
4Q |
FY |
Primary Unit
|
2017 |
— |
|
|
|
|
Sulfuric Acid |
2018 |
|
|
|
— |
|
Ammonia |
2019 |
— |
|
|
|
|
Sulfuric Acid |
2020 |
|
|
|
|
|
Ammonia |
2021 |
|
|
— |
|
|
Sulfuric Acid |
2022 |
|
|
|
— |
|
Ammonia |
2023 |
|
|
|
— |
|
Sulfuric Acid |
2024 |
|
|
|
|
|
Ammonia |
2025E |
|
|
— |
|
|
Sulfuric Acid |
(4) Primarily reflects the impact of fixed cost absorption, maintenance expense, and the purchase of feedstocks which are normally manufactured by the Company. |
||||||
(5) During the multi-site planned plant turnaround, additional required maintenance at our Frankford phenol plant contributed to reduced production across our integrated value chain and a delayed ramp to full operating rates at our |
||||||
(6) During the multi-site planned plant turnaround, additional required maintenance at our |
View source version on businesswire.com: https://www.businesswire.com/news/home/20250220498902/en/
Media
Janeen Lawlor
(973) 526-1615
janeen.lawlor@advansix.com
Investors
Adam Kressel
(973) 526-1700
adam.kressel@advansix.com
Source: AdvanSix