AdvanSix Q2 Earnings Beat Consensus Despite Weak Fundamentals
Portfolio Pulse from Lekha Gupta
AdvanSix Inc (ASIX) reported a Q2 FY23 sales decline of 27% Y/Y to $427.94 million, beating the consensus of $418.67 million. The sales decline was due to lower volume, unfavorable market-based pricing, and lower raw material pass-through pricing. Adjusted EPS was $1.25, down from $2.30 a year ago, beating the consensus of $1.11. The company declared a quarterly cash dividend of $0.16 per share, up 10% Q/Q. ASIX shares are trading lower by 0.96% at $39.00.
August 04, 2023 | 3:51 pm
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AdvanSix reported a decline in Q2 FY23 sales and EPS, but both figures beat consensus estimates. The company also declared a quarterly cash dividend of $0.16 per share, up 10% Q/Q. Despite the earnings beat, ASIX shares are trading lower.
Despite beating consensus estimates for Q2 FY23 sales and EPS, AdvanSix reported a decline in both figures. This, combined with the company's declaration of a quarterly cash dividend, could be contributing to the current downward trend in ASIX shares.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100