AdvanSix Now Expects 2024 Capital Expenditures Of $135M-$140M (Prior $140M-$150M)
Portfolio Pulse from Benzinga Newsdesk
AdvanSix has revised its 2024 capital expenditures to $135M-$140M, down from $140M-$150M. The company anticipates strong demand for ammonium sulfate and balanced acetone supply. However, a delayed ramp-up at the Hopewell site will negatively impact 4Q24 pre-tax income by $17M.
November 01, 2024 | 10:35 am
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AdvanSix has adjusted its 2024 capital expenditure forecast to $135M-$140M, reflecting refined execution timing for risk mitigation and growth projects. The company expects a $17M negative impact on 4Q24 pre-tax income due to maintenance and operational delays at the Hopewell site.
The reduction in capital expenditure guidance and the expected $17M negative impact on 4Q24 pre-tax income due to operational delays at the Hopewell site are likely to weigh on investor sentiment, potentially leading to a short-term decline in ASIX's stock price.
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