ASIX - AdvanSix jumps on favourable market outlook earnings beat
AdvanSix (NYSE:ASIX) is up 7% after the management presented favourable outlook for business in Q3 earnings results, topping estimates on both lines. The company says it expects steady North America nylon demand amid favorable end market conditions and tight industry supply. Strength in chemical intermediates demand to continue. For 2022, Capex is expected to be $95-$105M in addition of $30M pre-tax income impact of planned plant turnarounds. Revenue of $446.49M (+58.3% Y/Y) beats consensus by $38.34M. EBITDA Margin of 16.8%, an increase of 1120 bps versus the prior year. "Our performance was supported by strong pricing and volume improvement including continued contributions from differentiated products amid favorable end market conditions and tight industry supply," says Erin Kane, president and CEO of AdvanSix. Cash Flow from Operations of $76.5M, an increase of $41M versus the prior year Capital Expenditures of $13M, a decrease of $3M versus the prior year Free Cash Flow of $63.5M, an increase
For further details see:
AdvanSix jumps on favourable market outlook, earnings beat