ASIX - AdvanSix beats Q2 top and bottom line estimates; reaffirms FY23 outlook
2023-08-04 06:31:50 ET
- AdvanSix press release ( NYSE: ASIX ): Q2 Non-GAAP EPS of $1.25 beats by $0.14 .
- Revenue of $428M (-26.7% Y/Y) beats by $9.33M .
- Adjusted EBITDA of $65.8 million, a decrease of $39.6 million versus the prior year.
- Cash Flow from Operations of $35.0 million, a decrease of $60.9 million versus the prior year.
- Capital Expenditures of $19.3 million, an increase of $1.5 million versus the prior year.
- Free Cash Flow of $15.7 million, a decrease of $62.4 million versus the prior year.
- Outlook:
- Continue to expect Capital Expenditures of $110 million to $120 million in 2023, reflecting increased spend due to critical infrastructure, other maintenance, and growth and cost savings projects
- Continue to expect pre-tax income impact of planned plant turnarounds to be $25 million to $30 million in 3Q23, totaling $28 million to $33 million in full year 2023
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AdvanSix beats Q2 top and bottom line estimates; reaffirms FY23 outlook