AdvanSix earnings level on increased revenues
AdvanSix reported first-quarter net income of $27.3 million ($0.88 per diluted share) on sales of $376.7 million, compared to the year-ago $27.4 million ($0.90 per share) and $299.8 million, respectively. EBITDA was up at $57.1 million from $53.3 million.
AdvanSix reported that there was a modest decline in ammonium sulfate prices during the quarter. The outlook for the year is for stable pricing and challenging agriculture fundamentals.
In addition, AS sales represented only 18 percent of total company sales for the quarter, down from the year-ago 25 percent. The sales percentages of other company categories—Nylon, Caprolactam and Chemical Intermediates, were all up.