ASIX - AdvanSix expects Q3 adjusted EBITDA of $31M-$34M
- AdvanSix ( NYSE: ASIX ) expects adjusted EBITDA of $31M to $34M in third quarter of 2022.
- Providing an update on its planned multi-site plant turnaround in September, the chemicals company said there will be an incremental ~$15M unfavorable impact to pre-tax income due to additional required maintenance at Frankford phenol plant that contributed to reduced production across its integrated value chain and a delayed ramp to full operating rates at Hopewell and Chesterfield sites.
- Erin Kane, president and CEO of AdvanSix, said: "While quarterly operational performance overall did not meet our expectations, I’m encouraged that our planned plant turnaround activities are now behind us, supporting future performance, and expect our facilities to operate at our typical high utilization rates for the remainder of the year."
- Outlook for the fourth quarter remains favorable, with expected performance rebounding towards results demonstrated in the first and second quarters of this year.
- AdvanSix ( ASIX ) will announce its Q3 results on Nov 4.
- ASIX shares were down 3% premarket
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AdvanSix expects Q3 adjusted EBITDA of $31M-$34M