ASIX - AdvanSix's Q3 Earnings Take A Hit; CEO Cites 'Unfavorable Global Industry Supply And Demand Conditions' | Benzinga
AdvanSix Inc (NYSE: ASIX) reported a third-quarter FY23 sales decline of 32.6% Y/Y to $322.91 million, missing the consensus of $367.90 million.
The sales decline was due to a 24% unfavorable impact of market-based pricing, 8% lower raw material pass-through pricing, and 1% lower volume.
Adjusted EPS was $(0.36), down from $0.43 a year ago, missing the consensus of $(0.03).
Adjusted EBITDA declined to $7.32 million from $33.31 million a year ago, with margin contracting to 2.3% from 7% the prior year.
Operating cash flow declined to $20.8 million from $58.93 million a year ago. Free cash ...