AdvanSix (NYSE: ASIX) reported Q1 EPS of $0.41, $0.10 better than the analyst estimate of $0.31. Revenue for the quarter came in at $233 million versus the consensus estimate of $281.3 million.

Outlook

• Challenging nylon demand environment expected to continue; Optimizing mix across end uses, applications and geographies
• Typical ammonium sulfate seasonality expected to drive 3Q20 sequential domestic pricing decline and higher export mix
• Expect favorable acetone industry supply and demand balance to continue
• Continued disciplined cost management - expect $15 to $20 million full year cost reduction (previously expected $10 to $15 million)
• Expect Capital Expenditures to be approximately $85 million in 2020, a decrease of approximately $65 million versus 2019
• Expect improved cash flow from operations in the second half of 2020 supported by working capital improvements and cash tax benefits associated with the CARES Act
• Expect pre-tax income impact of planned plant turnarounds to be approximately $32 million in 2020 (versus approximately $35 million in 2019 and approximately $42 million in 2018)

"We are focused on the flawless execution of our third quarter planned plant turnaround, while continuing to safely operate at higher utilization rates relative to our industry. We also remain confident in our financial position with visibility to a number of tailwinds, including disciplined cost management, reduced capital expenditures, and benefits of the CARES Act, which support our expectation of improved cash flow in the second half of 2020. During this unique time, we're committed to driving best possible outcomes and optimizing levers in our control to create shareholder value,” added Kane.

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