AdvanSix Q2 Misses Across the Board, Guides Q3 Pricing Lower
ASIX sits 28% above its 52-week low of $14.1.
Summary
AdvanSix's Q2 results fell well short of expectations — sales of $421M missed consensus by $31M and adjusted EPS of $0.19 was a third of the $0.56 estimate. Net income plunged 90% to $3.2M despite a 3% sales gain, as weak Plant Nutrients demand crushed margins. This follows a Q1 net loss of $15.5M, deepening the earnings slide. Management now expects Q3 domestic ammonium sulfate pricing to decline sequentially, signaling the fertilizer headwind isn't letting up. Capex is being cut to $75M-$95M from $116M, and turnaround costs are guided lower, but the near-term profit picture remains grim.
At the time of this announcement, ASIX was trading at $18.00 on NYSE in the Manufacturing sector, with a market capitalization of approximately $543M. The 52-week trading range was $14.10 to $26.73. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.