AdvanSix, Parsippany, N.J., reported third-quarter net income of $43.9 million ($1.51 per diluted share) on sales of $446.5 million, up from a year-ago loss of $692,000 ($0.02 per share) and $281.9 million. EBITDA was $75.2 million, up from $15.8 million.
Sales were up approximately 58 percent. Raw material pass-through pricing was favorable by 22 percent, following a net cost increase in benzene and propylene. Market-based pricing was favorable by 28 percent compared to the year-ago, driven by higher pricing across product lines. Sales volumes increased 8 percent, driven primarily by improved end market demand across ammonium sulfate, nylon, and caprolactam.
Ammonium sulfate sales were reported at $113.2 million, up 85 percent from the year-ago $61.2 million. They represent 26 percent of total sales during the quarter, up from 22 percent in the year-ago period. The company expects robust agricultural industry fundamentals to continue through the 2022 planting season.
Nine-month net income was $116.2 million ($4.02 per share) on sales of $1.26 billion, up from $19.3 million ($0.69 per share) and $817.6 million. EBITDA was $206.2 million, up from $75.1 million.