NYSE$ASIX
Advansix Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
AdvanSix's financial performance declined due to unfavorable market-based pricing, partially offset by increased sales volume and changes in sales mix, while maintaining focus on long-term priorities.
AdvanSix reported a decrease in sales and earnings for Q4 2023, with sales down 5% year-over-year to $382 million and a net loss of $5.1 million. The decline was primarily due to unfavorable market-based pricing, although sales volume increased. The company focused on managing through a challenging market environment and investing in long-term profitability.
- Sales decreased by 5% compared to the prior year, totaling $382 million.
- The company experienced a net loss of $5.1 million, a decrease of $38.7 million year-over-year.
- Adjusted EBITDA decreased to $15.1 million, a $51.5 million decrease compared to the prior year.
- Cash flow from operations decreased by $9.4 million to $60.2 million.
Headline financials
Revenue & EPS history
Advansix · Revenue · Quarterly
$382M
Revenue by segment
Advansix · $238M total across 3 segments · Q3 2023
- Nylon$86.1M-39.0%36.1%
- Chemical Intermediates$83.5M-27.6%35.0%
- Caprolactam$68.8M-24.3%28.9%
Forward guidance
AdvanSix anticipates stabilized nylon industry spreads, strong ammonium sulfate demand, and balanced acetone supply and demand. The company expects increased capital expenditures and a pre-tax income impact from plant turnarounds. An operational disruption in Frankford, PA, is expected to negatively impact Q1 results.
Tailwinds
- Expect nylon industry spreads to remain stabilized near current levels amid weak demand
- Anticipate higher Nylon Solutions exports in first half of 2024 year-over-year
- Anticipate strong ammonium sulfate seasonal demand supported by continued favorable underlying agriculture industry fundamentals
- Expect balanced to tight global acetone supply and demand conditions
- Teams have been focused on stabilization of phenol production, which is enabling us to ramp up our Hopewell and Chesterfield manufacturing facilities to our targeted utilization rates.
Headwinds
- Expect first half 2024 year-over-year pricing declines amid lower nitrogen pricing environment
- Expect Capital Expenditures of $140 to $150 million in 2024, reflecting increased spend to address critical enterprise risk mitigation and growth projects including our SUSTAIN program
- Expect pre-tax income impact of planned plant turnarounds to be $38 to $43 million in 2024 versus approximately $30 million in 2023
- Now expect to incur a total unfavorable impact to pre-tax income in 1Q24 of $23 to $27 million as a result of the process-based operational disruption at our Frankford, PA manufacturing site and a delayed ramp to planned utilization rates
- While the previously disclosed operational disruption at our Frankford, Pennsylvania manufacturing site is impacting our first quarter results
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2023
-0.8%
Avg return
Earnings day
-1.1%
Avg return
5 days after
+0.8%
Avg return
30 days after
52%
23 / 44 earnings
Positive
+15.6%
Q1 2016
Best reaction
-15.5%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -15.1% | -6.6% | — | |
| Q4 2025 | +3.9% | +0.8% | +12.5% | |
| Q3 2025 | -15.0% | -10.9% | -11.7% | |
| Q1 2025 | +6.1% | +6.9% | +10.4% | |
| Q3 2024 | +5.0% | +11.8% | +14.5% | |
| Q2 2024 | +2.7% | +4.0% | +10.5% | |
| Q1 2024 | -9.9% | -6.3% | -8.0% | |
| Q4 2023 | +0.8% | -0.6% | -4.2% | |
| Q3 2023 | -9.5% | -13.2% | -5.0% | |
| Q2 2023 | -8.1% | -5.3% | -14.0% | |
| Q1 2023 | -0.7% | -1.2% | +1.1% | |
| Q4 2022 | -3.3% | -0.9% | -17.7% | |
| Q3 2022 | +3.7% | +1.7% | +14.9% | |
| Q2 2022 | +1.6% | +2.0% | -8.2% | |
| Q1 2022 | -3.9% | -4.2% | -2.2% | |
| Q4 2021 | -11.0% | -14.7% | +30.5% | |
| Q3 2021 | +5.4% | +8.3% | +2.4% | |
| Q2 2021 | +2.6% | +6.9% | +11.5% | |
| Q1 2021 | +3.3% | +6.7% | +3.4% | |
| Q4 2020 | +11.5% | +8.1% | +2.8% | |
| Q3 2020 | +4.4% | -1.3% | +23.6% | |
| Q2 2020 | +1.5% | +5.2% | +16.4% | |
| Q1 2020 | -6.0% | -7.2% | -2.8% | |
| Q4 2019 | -15.5% | -27.0% | -34.1% | |
| Q3 2019 | +3.4% | +4.0% | -11.1% | |
| Q2 2019 | -2.3% | -10.3% | -12.9% | |
| Q1 2019 | +8.1% | +1.6% | -18.7% | |
| Q4 2018 | +2.0% | -1.2% | -15.6% | |
| Q3 2018 | -8.9% | -2.9% | -2.5% | |
| Q2 2018 | -13.2% | -13.5% | -15.0% | |
| Q1 2018 | -5.5% | +2.0% | +2.9% | |
| Q4 2017 | +4.5% | +6.6% | -12.2% | |
| Q3 2017 | -6.7% | -7.2% | -11.4% | |
| Q2 2017 | -4.6% | -4.0% | +3.2% | |
| Q2 2016 | -4.6% | -4.0% | +3.2% | |
| Q1 2017 | +15.6% | +13.7% | +11.3% | |
| Q1 2016 | +15.6% | +13.7% | +11.3% | |
| Q1 2015 | -7.1% | -9.9% | -11.7% | |
| Q2 2015 | -7.1% | -9.9% | -11.7% | |
| Q4 2014 | -7.1% | -9.9% | -11.7% | |
| Q4 2016 | +1.3% | -2.2% | +1.3% | |
| Q4 2015 | +8.5% | +6.9% | +30.4% | |
| Q3 2016 | +8.5% | +6.9% | +30.4% | |
| Q3 2015 | +8.5% | +6.9% | +30.4% |
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