AdvanSix (ASIX) Tops Q3 EPS by 3c, Revenues Beat

October 30, 2020 6:36 AM

AdvanSix (NYSE: ASIX) reported Q3 EPS of ($0.02), $0.03 better than the analyst estimate of ($0.05). Revenue for the quarter came in at $281.91 million versus the consensus estimate of $266.77 million.

Third Quarter 2020 Results

“Our diverse product portfolio and global low-cost position continue to serve us well as we navigate through the current environment," said Erin Kane, president and CEO of AdvanSix. "We have seen nylon volume returning to pre-COVID levels and we continue to optimize our mix across end uses, applications and geographies through the recovery. The performance of the remainder of our portfolio, including ammonium sulfate, acetone and other high-value intermediates, remains resilient complementing ongoing benefits from our focused cost management and high-return capital investments. We generated higher cash flow in the quarter, as anticipated, supported by efficient working capital performance and reduced capital expenditures."

Outlook

"During this dynamic time, we continue to strengthen our ability to deliver long-term shareholder return. We are focused on executing for the remainder of 2020 and driving best possible outcomes for the business. Looking ahead to 2021, our priorities are focused on continued operational excellence and improving through-cycle profitability, enhancing our portfolio resiliency through differentiated product growth and mix optimization, and being strong and disciplined stewards of capital,” added Kane.

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

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