AdvanSix (ASIX) Misses Q1 EPS by 4c, provides outlook

AdvanSix (NYSE: ASIX) reported Q1 EPS of ($0.56), $0.04 worse than the analyst estimate of ($0.52). Revenue for the quarter came in at $337 million versus the consensus estimate of $346.2 million.

Outlook

Expect second quarter 2024 ammonium sulfate sequential pricing improvement amid continued sulfur demand growth and tight North American supply
Expect balanced to tight global acetone supply and demand conditions
Expect nylon industry spreads to modestly improve through 2024 off 2023 trough levels
Continue to expect Capital Expenditures of $140 million to $150 million in 2024, reflecting increased spend to address critical enterprise risk mitigation and growth projects including our SUSTAIN (Sustainable U.S. Sulfate to Accelerate Increased Nutrition) program
Continue to expect pre-tax income impact of planned plant turnarounds to be $38 to $43 million in 2024; Shifting larger planned turnaround to 4Q24 from 3Q24

For earnings history and earnings-related data on AdvanSix (ASIX) click here.

You May Also Be Interested In

• FedEx falls 4% as CY2026 profit forecast misses expectations despite Q4 beat
• Morgan Stanley upgrades CDW on stronger AI-driven server demand
• Synopsys upgraded at Piper Sandler on Intel foundry momentum, Apple opportunity