ADVANSIX INC Reports Second Quarter FY2023 Financial Results
August 10, 2023
🌥️Earnings Overview
ADVANSIX INC ($NYSE:ASIX) reported their financial results for the second quarter of FY2023 on June 30 2023, with the quarter ending August 4 2023. Total revenue for the quarter was USD 427.9 million, representing a decrease of 26.7% year-on-year. The company’s net income was USD 32.7 million, which was a decrease of 49.8% compared to the same period last year.
Stock Price
On Friday, ADVANSIX INC reported its second-quarter financial results for FY2023. The stock opened at $39.4 and closed at $39.7, a 0.9% increase from the prior closing price of $39.4. This was offset by a slight decrease in operating income due to higher expenses.
Overall, investors were pleased with the results from ADVANSIX INC and the company’s outlook for the remainder of the fiscal year. The stock price rose 0.9% in response to the news, indicating that investors believe the company is on track to continue its strong performance and achieve its long-term objectives. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Advansix Inc. More…
| Total Revenues | Net Income | Net Margin |
| 1.71k | 111.34 | 6.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Advansix Inc. More…
| Operations | Investing | Financing |
| 165.13 | -97.75 | -74.14 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Advansix Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.47k | 692.65 | 28.36 |
Key Ratios Snapshot
Some of the financial key ratios for Advansix Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 13.4% | 54.9% | 8.8% |
| FCF Margin | ROE | ROA |
| 4.1% | 12.3% | 6.4% |
Analysis
GoodWhale conducted an analysis of ADVANSIX INC‘s financials and found that the company is classified as a ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. We believe this makes ADVANSIX INC an appealing investment for investors who are looking for steady, albeit not explosive, growth. The company also has a very strong health score of 8/10, with particular strengths in their ability to pay off debt and fund future operations. This can provide investors with the reassurance that ADVANSIX INC is capable of managing its finances in a responsible and effective way. We have also determined that ADVANSIX INC is strong in terms of asset and dividend, and medium in terms of growth, profitability, and cashflows. More…
Peers
The company’s products are used in a variety of applications, including engineering plastics, fibers, filaments and films. AdvanSix Inc‘s competitors include NanoXplore Inc, LSB Industries Inc, and Univar Solutions Inc.
– NanoXplore Inc ($TSX:GRA)
NanoXplore is a Canadian graphene producer. The company has a market cap of $485.14 million and a return on equity of -8.02%. NanoXplore is the largest producer of graphene in North America and the third largest in the world. The company’s graphene is used in a variety of applications, including batteries, solar cells, and conductive ink.
– LSB Industries Inc ($NYSE:LXU)
LSB Industries Inc is a diversified holding company with interests in the chemical manufacturing, HVAC, and mining industries. It operates through two segments: Chemicals and Climate Control. The Chemicals segment produces and sells a variety of chemicals, including ammonia, ammonium nitrate, and nitric acid. The Climate Control segment manufactures and sells a range of HVAC products, including air conditioners, furnaces, and heat pumps. LSB Industries has a market cap of 1.36B as of 2022 and a ROE of 29.87%. The company has a diversified portfolio of businesses and products and is well-positioned to continue growing its business.
– Univar Solutions Inc ($NYSE:UNVR)
Univar Solutions Inc is a large chemical company with a market capitalization of 3.99 billion as of 2022. The company has a strong return on equity of 21.66%. Univar Solutions Inc is a leading provider of specialty chemicals and related services. The company’s products and services include chemicals, plastics, packaging, ingredients, and lab equipment. Univar Solutions Inc has a wide variety of customers, including manufacturers, distributors, and retailers.
Summary
ADVANSIX INC reported declining revenue and net income for the second quarter of FY2023, compared to the same period last year. Total revenue for the quarter was USD 427.9 million, a decrease of 26.7%, while net income was reported to be USD 32.7 million, a drop of 49.8%. These results suggest that investors should proceed with caution when considering investing in ADVANSIX INC at this time.
The company’s declining revenues and profits may indicate weakening demand for their products and services, which could lead to further losses and reduced returns. Investors should closely monitor the company’s financial performance through upcoming quarters to decide whether or not to continue investing in the company.
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