AdvanSix, Parsippany, N.J., reported increases for income for both the fourth-quarter and full-year ending Dec. 31, 2020. Fourth-quarter net income moved into the plus column to $26.8 million ($0.94 per diluted share) from the year-ago loss of $2.1 million ($0.08 per share). EBITDA was $48.5 million, up from $12.7 million.
Sales moved up to $340.3 million from $326.7 million. The company said overall sales volumes for the quarter were up 7.9 percent. Ammonium sulfate represented 23 percent of total sales, level with the year-ago figure. However, for full-year 2020, AS represented 25 percent, up from 23 percent.
Full-year net income was $46.1 million ($1.64 per share) on sales of 41.16 billion, up from 2019’s $41.3 million ($1.43 per share) and $1.3 billion, respectively. EBITDA was $123.7 million, up from $115.6 million.
Going forward, the company expects increased ammonium sulfate fertilizer demand though the 2021 planting season, citing improved ag fundamentals – robust planted acres and crop prices at multi-year highs supporting higher fertilizer prices. The company said it is monitoring ammonium sulfate supply (new capacity and imports) and raw material input costs.
Company-wide, AdvanSix expects to spend less on planned turnarounds in 2021 – $25-$30 million versus the $31 million in 2020. The company is eyeing major turnarounds in the second-quarter ($11-$13 million) and the fourth-quarter ($14-$17 million).