AdvanSix's Q3 Earnings Take A Hit; CEO Cites 'Unfavorable Global Industry Supply And Demand Conditions'
Portfolio Pulse from Akanksha Bakshi
AdvanSix Inc (ASIX) reported a Q3 FY23 sales decline of 32.6% Y/Y to $322.91 million, missing the consensus of $367.90 million. The sales decline was due to unfavorable market-based pricing, lower raw material pass-through pricing, and lower volume. Adjusted EPS was $(0.36), down from $0.43 a year ago, missing the consensus of $(0.03). The company declared a quarterly cash dividend of $0.16 per share. ASIX shares were down 8.6% to $25.64 at the time of publication.
November 03, 2023 | 3:53 pm
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AdvanSix reported lower than expected Q3 FY23 sales and EPS. The company declared a dividend of $0.16 per share. The stock price fell 8.6%.
AdvanSix's lower than expected Q3 FY23 sales and EPS, along with the declaration of a dividend, have likely contributed to the stock's price decline. The company's future performance may continue to be impacted by unfavorable market conditions.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100