- AdvanSix Inc (NYSE:ASIX) reported first-quarter FY22 sales growth of 27% year-over-year to $479.07 million, missing the consensus of $481.77 million.
- Adjusted EPS improved to $2.26 compared to $1.05 in 1Q21, beating the consensus of $1.71.
- AdvanSix' net cash provided by operating activities for the quarter totaled $49.16 million, compared to $57.1 million a year ago. Free cash flow was $28.14 million.
- Adjusted EBITDA increased to $103.16 million (+79.2% Y/Y), and the margin expanded by 623 bps to 21.5%.
- ASIX repurchased 181,536 shares at an average share price of $38.61 for ~$7 million.
- Dividend: The company declared a quarterly cash dividend of $0.125 per share, payable on May 31, 2022, to stockholders of record on May 17, 2022.
- "Looking forward, we see healthy to strong demand across our end markets, and in particular a set of constructive industry factors in agriculture and nitrogen and sulfur fertilizers. While the macro environment remains dynamic on a number of fronts, our cost-advantaged asset base and diverse product portfolio continue to support our expectations for significant earnings growth and robust cash flow in 2022,” commented CEO Erin Kane.
- FY22 Outlook: The company expects continued healthy demand for nylon and chemical intermediates in North America. The company targets significant earnings growth in 2022.
- It expects Capital Expenditures of $95 million - $105 million.
- Price Action: ASIX shares are trading higher by 0.67% at $47.43 on the last check Friday.
