$ASIX
AdvanSix Inc.

2023 Q4 Form 10-Q Financial Statement

#000167398523000142 Filed on November 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $382.2M $322.9M
YoY Change -5.41% -32.55%
Cost Of Revenue $363.7M $314.8M
YoY Change 8.55% -29.05%
Gross Profit $18.54M $8.122M
YoY Change -73.14% -76.88%
Gross Profit Margin 4.85% 2.52%
Selling, General & Admin $24.83M $21.59M
YoY Change 9.72% -6.43%
% of Gross Profit 133.9% 265.76%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $18.71M $18.30M
YoY Change 7.02% 3.72%
% of Gross Profit 100.91% 225.31%
Operating Expenses $24.83M $21.59M
YoY Change 9.72% -6.43%
Operating Profit -$6.286M -$13.46M
YoY Change -113.55% -211.69%
Interest Expense -$2.189M -$2.100M
YoY Change 186.52% 206.12%
% of Operating Profit
Other Income/Expense, Net $240.0K $5.485M
YoY Change 1400.0% 293.47%
Pretax Income -$8.235M -$10.05M
YoY Change -118.04% -178.77%
Income Tax -$3.153M -$2.100M
% Of Pretax Income
Net Earnings -$5.082M -$7.977M
YoY Change -115.11% -179.52%
Net Earnings / Revenue -1.33% -2.47%
Basic Earnings Per Share -$0.29
Diluted Earnings Per Share -$0.19 -$0.29
COMMON SHARES
Basic Shares Outstanding 26.95M shares 27.21M shares
Diluted Shares Outstanding 27.21M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $29.77M $22.10M
YoY Change -3.93% -10.5%
Cash & Equivalents $29.77M $22.11M
Short-Term Investments
Other Short-Term Assets $11.38M $16.25M
YoY Change 23.13% 12.86%
Inventory $211.8M $229.2M
Prepaid Expenses
Receivables $154.4M $133.7M
Other Receivables $12.39M $12.50M
Total Short-Term Assets $419.8M $413.7M
YoY Change -4.79% 3.86%
LONG-TERM ASSETS
Property, Plant & Equipment $948.4M $932.7M
YoY Change 16.94% 0.49%
Goodwill $56.20M $56.19M
YoY Change 0.01% 0.0%
Intangibles $46.19M $46.96M
YoY Change -6.19% -6.1%
Long-Term Investments
YoY Change
Other Assets $25.38M $26.91M
YoY Change 9.34% 17.86%
Total Long-Term Assets $1.076B $1.063B
YoY Change 2.07% 0.52%
TOTAL ASSETS
Total Short-Term Assets $419.8M $413.7M
Total Long-Term Assets $1.076B $1.063B
Total Assets $1.496B $1.476B
YoY Change 0.05% 1.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $259.1M $230.5M
YoY Change -5.02% -13.03%
Accrued Expenses $44.09M $41.30M
YoY Change -9.7% -6.28%
Deferred Revenue $15.68M $2.415M
YoY Change -54.46% -5.7%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $797.0K
YoY Change 3.51%
Total Short-Term Liabilities $358.9M $308.0M
YoY Change -8.79% -12.18%
LONG-TERM LIABILITIES
Long-Term Debt $171.4M $170.0M
YoY Change 47.77% 25.93%
Other Long-Term Liabilities $75.41M $82.60M
YoY Change -13.59% -19.95%
Total Long-Term Liabilities $246.8M $252.6M
YoY Change 21.43% 6.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $358.9M $308.0M
Total Long-Term Liabilities $246.8M $252.6M
Total Liabilities $756.8M $722.0M
YoY Change -0.05% -2.6%
SHAREHOLDERS EQUITY
Retained Earnings $605.1M $614.6M
YoY Change 6.62% 14.22%
Common Stock $138.4M $144.3M
YoY Change -20.89% -20.7%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $739.2M $754.5M
YoY Change
Total Liabilities & Shareholders Equity $1.496B $1.476B
YoY Change 0.05% 1.44%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$5.082M -$7.977M
YoY Change -115.11% -179.52%
Depreciation, Depletion And Amortization $18.71M $18.30M
YoY Change 7.02% 3.72%
Cash From Operating Activities $60.15M $20.80M
YoY Change -13.59% -64.71%
INVESTING ACTIVITIES
Capital Expenditures $38.38M $25.10M
YoY Change 34.94% -212.91%
Acquisitions
YoY Change
Other Investing Activities -$1.120M -$400.0K
YoY Change 43.41% 9.29%
Cash From Investing Activities -$39.50M -$25.50M
YoY Change 35.17% 12.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -13.07M 16.30M
YoY Change -61.67% -156.32%
NET CHANGE
Cash From Operating Activities 60.15M 20.80M
Cash From Investing Activities -39.50M -25.50M
Cash From Financing Activities -13.07M 16.30M
Net Change In Cash 7.583M 11.60M
YoY Change 20.54% 56.82%
FREE CASH FLOW
Cash From Operating Activities $60.15M $20.80M
Capital Expenditures $38.38M $25.10M
Free Cash Flow $21.77M -$4.300M
YoY Change -47.12% -105.3%

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225000000.0 usd
CY2023Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
76600000 usd
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
5541948 shares
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
854340 shares
us-gaap Treasury Stock Value Acquired Par Value Method
TreasuryStockValueAcquiredParValueMethod
173600000 usd
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
31.33
CY2023Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
76600000 usd
asix Numberof Customers
NumberofCustomers
400 customer
asix Numberof Countriesin Which Customersare Located
NumberofCountriesinWhichCustomersareLocated
40 country
us-gaap Revenue Performance Obligation Description Of Timing
RevenuePerformanceObligationDescriptionOfTiming
We typically sell to customers under master service agreements, with primarily one-year terms, or by purchase orders.
CY2023Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
322907000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
478769000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1151391000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1541578000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
478769000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1151391000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1541578000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
34430000 usd
asix Contract With Customer Liability Additional Cash Advances
ContractWithCustomerLiabilityAdditionalCashAdvances
7307000 usd
asix Contract With Customer Liability Revenue Recognized In Period
ContractWithCustomerLiabilityRevenueRecognizedInPeriod
39322000 usd
CY2023Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2415000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-7977000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
10032000 usd
us-gaap Net Income Loss
NetIncomeLoss
59705000 usd
us-gaap Net Income Loss
NetIncomeLoss
138262000 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27209521 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27944494 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27433851 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28103255 shares
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.29
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.36
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.18
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.92
CY2023Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2022Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
945164 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
759870 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1070282 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27209521 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28889658 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28193721 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29173537 shares
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.29
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.35
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.12
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.74
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
498652 shares
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
227144 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
447950 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
156418 shares
CY2023Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.16
CY2022Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.145
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.465
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.395
CY2023Q3 us-gaap Dividends Cash
DividendsCash
4349000 usd
CY2022Q3 us-gaap Dividends Cash
DividendsCash
4051000 usd
us-gaap Dividends Cash
DividendsCash
12354000 usd
us-gaap Dividends Cash
DividendsCash
11083000 usd
CY2023Q3 us-gaap Accounts Receivable Gross
AccountsReceivableGross
134664000 usd
CY2022Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
171923000 usd
CY2023Q3 us-gaap Other Receivables
OtherReceivables
10987000 usd
CY2022Q4 us-gaap Other Receivables
OtherReceivables
4100000 usd
CY2023Q3 asix Accountsand Other Receivables Gross
AccountsandOtherReceivablesGross
145651000 usd
CY2022Q4 asix Accountsand Other Receivables Gross
AccountsandOtherReceivablesGross
176023000 usd
CY2023Q3 asix Accounts And Financing Receivable Allowance For Credit Loss Current
AccountsAndFinancingReceivableAllowanceForCreditLossCurrent
978000 usd
CY2022Q4 asix Accounts And Financing Receivable Allowance For Credit Loss Current
AccountsAndFinancingReceivableAllowanceForCreditLossCurrent
594000 usd
CY2023Q3 us-gaap Accounts Notes And Loans Receivable Net Current
AccountsNotesAndLoansReceivableNetCurrent
144673000 usd
CY2022Q4 us-gaap Accounts Notes And Loans Receivable Net Current
AccountsNotesAndLoansReceivableNetCurrent
175429000 usd
CY2023Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
133103000 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
126060000 usd
CY2023Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
64368000 usd
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
64669000 usd
CY2023Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
97310000 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
60711000 usd
CY2023Q3 us-gaap Other Inventory
OtherInventory
30730000 usd
CY2022Q4 us-gaap Other Inventory
OtherInventory
28892000 usd
CY2023Q3 us-gaap Inventory Gross
InventoryGross
325511000 usd
CY2022Q4 us-gaap Inventory Gross
InventoryGross
280332000 usd
CY2023Q3 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
96312000 usd
CY2022Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
64830000 usd
CY2023Q3 us-gaap Inventory Net
InventoryNet
229199000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
215502000 usd
CY2023Q3 us-gaap Percentage Of Fifo Inventory
PercentageOfFIFOInventory
0.09
CY2023Q3 us-gaap Excess Of Replacement Or Current Costs Over Stated Lifo Value
ExcessOfReplacementOrCurrentCostsOverStatedLIFOValue
61400000 usd
CY2022Q4 us-gaap Excess Of Replacement Or Current Costs Over Stated Lifo Value
ExcessOfReplacementOrCurrentCostsOverStatedLIFOValue
58200000 usd
us-gaap Lease Cost
LeaseCost
37152000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
4091000 usd
CY2023Q3 us-gaap Lease Cost
LeaseCost
13869000 usd
CY2022Q3 us-gaap Lease Cost
LeaseCost
13496000 usd
us-gaap Lease Cost
LeaseCost
39726000 usd
CY2023Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
237000 usd
CY2022Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
229000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
675000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
703000 usd
CY2023Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
28000 usd
CY2022Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
15000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
69000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
37000 usd
CY2023Q3 asix Finance Lease Cost
FinanceLeaseCost
265000 usd
CY2022Q3 asix Finance Lease Cost
FinanceLeaseCost
244000 usd
asix Finance Lease Cost
FinanceLeaseCost
744000 usd
asix Finance Lease Cost
FinanceLeaseCost
740000 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
12032000 usd
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
11711000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
34873000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
32321000 usd
CY2023Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1572000 usd
CY2022Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1541000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
4109000 usd
CY2023Q3 asix Operating Lease Lease Not Yet Commenced
OperatingLeaseLeaseNotYetCommenced
1400000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
56371000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
9416000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
46955000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
56371000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
7129000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
49242000 usd
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
800000 usd
CY2023Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
800000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2300000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2000000 usd
asix Numberof Manufacturing Locations
NumberofManufacturingLocations
3 location
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2100000 usd
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2700000 usd
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.207
CY2022Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.214
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
17800000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
41900000 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.229
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.232
CY2023Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
us-gaap Derivative Instruments Gain Loss Reclassification From Accumulated Oci To Income Estimated Net Amount To Be Transferred
DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred
0 usd
asix Supplier Finance Program Period Of Termination
SupplierFinanceProgramPeriodOfTermination
P30D
CY2022Q4 asix Supplier Finance Program Obligations Current
SupplierFinanceProgramObligationsCurrent
17000000 usd
CY2023Q3 asix Supplier Finance Program Obligations Current
SupplierFinanceProgramObligationsCurrent
17000000 usd
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

Files In Submission

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0001673985-23-000142.txt Edgar Link pending
0001673985-23-000142-xbrl.zip Edgar Link pending
a10qq32023exhibit311ceo.htm Edgar Link pending
a10qq32023exhibit312cfo.htm Edgar Link pending
a10qq32023exhibit321ceosox.htm Edgar Link pending
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asix-20230930.htm Edgar Link pending
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