0001673985false00016739852024-11-012024-11-01


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________________________
Form 8-K
_____________________________________
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): November 1, 2024
 
ADVANSIX INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction
of incorporation)

1-37774
(Commission File Number)

81-2525089
(I.R.S. Employer
Identification No.)
300 Kimball Drive, Suite 101
Parsippany, New Jersey 07054
(Address of principal executive offices)
 
Registrant’s telephone number, including area code: (973) 526-1800

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.01 per shareASIXNew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company   ☐               
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐




ITEM 2.02    Results of Operations and Financial Condition.

On November 1, 2024, AdvanSix Inc. (the "Company") issued a press release announcing its financial results for the quarter ended September 30, 2024. A copy of the press release is furnished herewith as Exhibit 99.1.
 
ITEM 8.01    Other Events.

Dividend

On November 1, 2024, the Company announced that its Board of Directors declared a cash dividend of $0.16 per share on the Company's common stock. The dividend will be paid on November 26, 2024 to stockholders of record as of the close of business on November 12, 2024.

The Company's announcement of the dividend is included in the press release furnished herewith as Exhibit 99.1.

ITEM 9.01     Financial Statements and Exhibits.

(d) Exhibits
Exhibit
Number

Description
99.1

104Cover Page Interactive Data File (embedded within the Inline XBRL document)



SIGNATURE
 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: November 1, 2024


AdvanSix Inc.




By:/s/ Achilles B. Kintiroglou

Name:Achilles B. Kintiroglou

Title:
Senior Vice President, General
Counsel and Corporate Secretary



Exhibit 99.1
advansixlogowithtagline.jpg                                
News Release

ADVANSIX ANNOUNCES THIRD QUARTER 2024 FINANCIAL RESULTS

Sales of $398 million, up 23% versus prior year
Earnings Per Share of $0.82; Adjusted Earnings Per Share of $0.88
Cash Flow from Operations of $57 million, up $36 million versus prior year
Awarded $12 million grant from USDA to support expansion of granular ammonium sulfate
Appointed Sidd Manjeshwar as SVP and CFO, effective October 1

Parsippany, N.J., November 1, 2024 - AdvanSix (NYSE: ASIX), a diversified chemistry company, today announced its financial results for the third quarter ending September 30, 2024. Overall, the Company delivered strong sales, earnings and cash flow performance while continuing to invest for long-term sustainable growth.
Third Quarter 2024 Summary
•Sales up approximately 23% versus prior year driven by an approximately 11% increase in volume, 8% higher raw material pass-through pricing, and 5% favorable impact of market-based pricing
•Net Income of $22.3 million, an increase of $30.2 million versus the prior year
•Adjusted EBITDA of $53.2 million, an increase of $45.8 million versus the prior year
•Adjusted EBITDA Margin of 13.4%, up 1,110 bps versus the prior year
•Cash Flow from Operations of $57.3 million, an increase of $36.4 million versus the prior year
•Capital Expenditures of $30.5 million, an increase of $5.4 million versus the prior year
•Free Cash Flow of $26.8 million, an increase of $31.1 million versus the prior year

"In the third quarter, AdvanSix capitalized on the strength of our competitive position to deliver robust results with the continued realization of commercial performance across our diverse product portfolio and strong operational execution,” said Erin Kane, president and CEO of AdvanSix. “The AdvanSix team drove top and bottom-line growth as well as continued cash flow improvement amid a strong ammonium sulfate fall fill program supporting higher pricing year-over-year, a constructive global acetone supply and demand environment, and modestly improving North American nylon industry conditions. We are accelerating focused growth in the most profitable areas of our business and were pleased to be awarded
1

an approximately $12 million grant from the U.S. Department of Agriculture to increase our production capacity of premium grade products, reinforcing a strong return profile for our SUSTAIN (Sustainable U.S. Sulfate to Accelerate Increased Nutrition) program."

Summary third quarter 2024 financial results for the Company are included below:
($ in Thousands, Except Earnings Per Share)
3Q 20243Q 2023
Sales$398,187$322,907
Net Income (Loss)22,266(7,977)
Diluted Earnings Per Share$0.82($0.29)
Adjusted Diluted Earnings Per Share (1)
$0.88($0.36)
Adjusted EBITDA (1)
53,1617,321
Adjusted EBITDA Margin % (1)
13.4%2.3%
Cash Flow from Operations57,25020,802
Free Cash Flow (1)(2)
26,760(4,329)
(1) See “Non-GAAP Measures” included in this press release for non-GAAP reconciliations
(2) Net cash provided by operating activities less capital expenditures

Sales of $398 million in the quarter increased approximately 23% versus the prior year. Sales volume increased approximately 11% primarily driven by higher sales of ammonium sulfate supported by sulfur nutrition demand. Raw material pass-through pricing was favorable by 8% as a result of a net cost increase in benzene and propylene (inputs to cumene which is a key feedstock to our products). Market-based pricing was favorable by 5% including continued strength in acetone, as well as ammonium sulfate as growers seeking to maximize crop yields continue to recognize the benefits of sulfur nutrition.

Sales by product line and approximate percentage of total sales are included below:
($ in Thousands)3Q 2024
3Q 2023 (1)
Sales % of TotalSales% of Total
Nylon$93,693 24%$86,056 27%
Caprolactam76,338 19%68,795 21%
Ammonium Sulfate107,668 27%79,067 24%
Chemical Intermediates120,488 30%88,989 28%
Total$398,187 100%$322,907 100%
(1) Previously reported amounts have been updated for a reclassification of certain products representing approximately $5.5 million of sales in 3Q 2023 between Ammonium Sulfate (decreased) and Chemical Intermediates (increased). Total sales were not impacted.

Adjusted EBITDA of $53.2 million in the quarter increased $45.8 million versus the prior year primarily driven by favorable pricing, net of raw material costs, higher sales volume, and the timing of planned plant turnarounds.

2

Adjusted earnings per share of $0.88 increased $1.24 versus the prior year driven primarily by the factors discussed above.

Cash flow from operations of $57.3 million in the quarter increased $36.4 million versus the prior year primarily driven by higher net income. Capital expenditures of $30.5 million in the quarter increased $5.4 million versus the prior year primarily reflecting planned increased spend on maintenance and enterprise programs.

Outlook
•Ammonium sulfate order book sold through 4Q24 amid continued strong sulfur nutrition demand
•Expect balanced to tight global acetone supply and demand conditions
•Expect North American nylon industry spreads to modestly improve amid stable end market demand
•Expect Capital Expenditures to now be $135 to $140 million in 2024, reflecting refined execution timing to address critical enterprise risk mitigation and growth projects including our SUSTAIN (Sustainable U.S. Sulfate to Accelerate Increased Nutrition) program
•As a result of additional required maintenance and a delayed ramp to full operating rates at our Hopewell site following our planned plant turnaround, we expect an incremental approximately $17 million unfavorable impact to pre-tax income in 4Q24, inclusive of $10 million related to fixed cost absorption and higher maintenance expense, and $7 million of lost sales; no impact on 3Q24 results

Manufacturing plant turnarounds are a critical enabler for driving operational excellence, safety and compliance across the AdvanSix enterprise, and key to achieving and sustaining disproportionately higher operating rates given our competitive cost advantage. This year’s fourth quarter planned turnaround was comprehensive in scope, designed to encompass maintenance and reliability work at our three major sites. The mechanical portion of the turnaround was safely and well executed across all sites, however we experienced a delayed ramp to full operating rates in our Hopewell facility given a challenge associated with our Ammonia plant re-start.
"2024 has truly been a year of contrasts. On the positive side, we have consistently demonstrated our agility and focus by deploying the right strategies and actions to achieve commercial success while advancing targeted growth initiatives. On the opportunity side, while we have proven ability to navigate and recover from operational difficulties, our manufacturing execution this year has not met our expectations. Operational excellence is a key enabler to our overall performance, with meaningful performance upside for us to capture, and we take all learnings for sustained continuous improvement with rigor and discipline. Despite the unfavorable impact of the extended turnaround in the fourth quarter, we are pleased to have returned to our targeted utilization rates and our outlook for the remainder of the year and 2025 continues to be supported by our diverse product portfolio, advantaged business model and favorable industry dynamics. We remain confident in the growth prospects for AdvanSix, and are committed to delivering sustainable long-term value to our shareholders,” concluded Kane.
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Dividend
The Company's Board of Directors declared a quarterly cash dividend of $0.16 per share on the Company's common stock. The dividend is payable on November 26, 2024 to stockholders of record as of the close of business on November 12, 2024.

Conference Call Information
AdvanSix will discuss its results during its investor conference call today starting at 9:00 a.m. ET. To participate on the conference call, dial (844) 855-9494 (domestic) or (412) 858-4602 (international) approximately 10 minutes before the 9:00 a.m. ET start, and tell the operator that you are dialing in for AdvanSix’s third quarter 2024 earnings call. The live webcast of the investor call as well as related presentation materials can be accessed at http://investors.advansix.com. Investors can hear a replay of the conference call from 12 noon ET on November 1 until 12 noon ET on November 8 by dialing (877) 344-7529 (domestic) or (412) 317-0088 (international). The access code is 2537780.

About AdvanSix
AdvanSix is a diversified chemistry company that produces essential materials for our customers in a wide variety of end markets and applications that touch people’s lives. Our integrated value chain of our five U.S.-based manufacturing facilities plays a critical role in global supply chains and enables us to innovate and deliver essential products for our customers across building and construction, fertilizers, agrochemicals, plastics, solvents, packaging, paints, coatings, adhesives, electronics and other end markets. Guided by our core values of Safety, Integrity, Accountability and Respect, AdvanSix strives to deliver best-in-class customer experiences and differentiated products in the industries of nylon solutions, plant nutrients, and chemical intermediates. More information on AdvanSix can be found at http://www.advansix.com.

Forward Looking Statements
This release contains certain statements that may be deemed “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, that address activities, events or developments that our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements may be identified by words such as "expect," "anticipate," "estimate," “outlook,” "project," "strategy," "intend," "plan," "target," "goal," "may," "will," "should" and "believe" and other variations or similar terminology and expressions. Although we believe forward-looking statements are based upon reasonable assumptions, such statements involve known and unknown risks, uncertainties and other factors, many of which are beyond our control and difficult to predict, which may cause the actual results or performance of the Company to be materially different from any future results or performance expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to: general economic and financial conditions in the U.S. and globally; the potential effects of inflationary pressures, labor market shortages and supply chain issues; instability or volatility in financial markets or other unfavorable economic or business conditions caused by geopolitical concerns, including as a result of political and policy uncertainties with the approaching U.S. Presidential election, and the conflict between Russia and Ukraine, the conflict in Israel and Gaza, and the possible expansion of such conflicts; the effect of any of the foregoing on our customers’ demand for our products and our suppliers’ ability to manufacture and deliver our raw materials, including implications of reduced refinery utilization in the U.S.; our ability to sell and provide our goods and services; the ability of our customers to pay for our products; any closures of our and our customers’ offices and facilities; risks associated with increased phishing, compromised business emails and other cybersecurity attacks, data privacy incidents and disruptions to our technology infrastructure; risks associated with operating with a reduced workforce; risks associated with our indebtedness including compliance with financial and restrictive covenants, and our ability to access capital on reasonable terms, at a reasonable cost, or at all, due to economic conditions or otherwise; the impact of scheduled turnarounds and significant unplanned downtime and interruptions of production or logistics operations as a result of mechanical issues or other unanticipated events such as fires, severe weather conditions, natural disasters, pandemics and geopolitical conflicts and related events; price fluctuations, cost increases and supply of raw materials; our operations and growth projects requiring substantial capital; growth rates and cyclicality of the industries we serve including global changes in supply and demand; failure to develop and commercialize new products or technologies; loss of significant customer relationships; adverse trade and tax policies; extensive environmental, health and safety laws that apply to our operations; hazards associated with chemical manufacturing, storage and transportation; litigation associated with chemical manufacturing
4

and our business operations generally; inability to acquire and integrate businesses, assets, products or technologies; protection of our intellectual property and proprietary information; prolonged work stoppages as a result of labor difficulties or otherwise; failure to maintain effective internal controls; our ability to declare and pay quarterly cash dividends and the amounts and timing of any future dividends; our ability to repurchase our common stock and the amount and timing of any future repurchases; disruptions in supply chain, transportation and logistics; potential for uncertainty regarding qualification for tax treatment of our spin-off; fluctuations in our stock price; and changes in laws or regulations applicable to our business. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. We identify the principal risks and uncertainties that affect our performance in our filings with the Securities and Exchange Commission (SEC), including the risk factors in Part 1, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2023, as updated in subsequent reports filed with the SEC.

Non-GAAP Financial Measures
This press release includes certain non-GAAP financial measures intended to supplement, not to act as substitutes for, comparable GAAP measures. Reconciliations of non-GAAP financial measures to GAAP financial measures are provided in this press release. Investors are urged to consider carefully the comparable GAAP measures and the reconciliations to those measures provided. Non-GAAP measures in this press release may be calculated in a way that is not comparable to similarly-titled measures reported by other companies.

# # #
Contacts:
MediaInvestors
Janeen LawlorAdam Kressel
(973) 526-1615(973) 526-1700
janeen.lawlor@advansix.comadam.kressel@advansix.com
5

AdvanSix Inc.
Condensed Consolidated Balance Sheets
(Unaudited)
(Dollars in thousands, except share and per share amounts)
September 30, 2024December 31, 2023
ASSETS
Current assets:
Cash and cash equivalents$17,298 $29,768 
Accounts and other receivables – net149,058 165,393 
Inventories – net213,434 211,831 
Taxes receivable375 1,434 
Other current assets15,608 11,378 
Total current assets395,773 419,804 
Property, plant and equipment – net892,574 852,642 
Operating lease right-of-use assets90,740 95,805 
Goodwill56,192 56,192 
Intangible assets43,906 46,193 
Other assets31,050 25,384 
Total assets$1,510,235 $1,496,020 
LIABILITIES
Current liabilities:
Accounts payable$207,272 $259,068 
Accrued liabilities55,783 44,086 
Income taxes payable435 8,033 
Operating lease liabilities – short-term30,135 32,053 
Deferred income and customer advances1,517 15,678 
Total current liabilities295,142 358,918 
Deferred income taxes154,690 151,059 
Operating lease liabilities – long-term60,793 63,961 
Line of credit – long-term215,000 170,000 
Postretirement benefit obligations7,048 3,660 
Other liabilities11,154 9,185 
Total liabilities743,827 756,783 
STOCKHOLDERS' EQUITY
Common stock, par value $0.01; 200,000,000 shares authorized; 32,982,868 shares issued and 26,730,739 outstanding at September 30, 2024; 32,598,946 shares issued and 26,750,471 outstanding at December 31, 2023
330 326 
Preferred stock, par value $0.01; 50,000,000 shares authorized; 0 shares issued and outstanding at September 30, 2024 and December 31, 2023
— — 
Treasury stock at par (6,252,129 shares at September 30, 2024; 5,848,475 shares at December 31, 2023)
(63)(58)
Additional paid-in capital134,735 138,046 
Retained earnings635,609 605,067 
Accumulated other comprehensive loss(4,203)(4,144)
Total stockholders' equity766,408 739,237 
Total liabilities and stockholders' equity$1,510,235 $1,496,020 
6

AdvanSix Inc.
Condensed Consolidated Statements of Operations
(Unaudited)
(Dollars in thousands, except share and per share amounts)

Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Sales$398,187 $322,907 $1,188,495 $1,151,391 
Costs, expenses and other:
Costs of goods sold340,885 314,785 1,046,860 1,004,844 
Selling, general and administrative expenses24,265 21,585 72,290 70,711 
Interest expense, net2,924 2,075 9,137 5,296 
Other non-operating (income) expense, net368 (5,485)1,808 (6,918)
Total costs, expenses and other368,442 332,960 1,130,095 1,073,933 
Income (loss) before taxes29,745 (10,053)58,400 77,458 
Income tax expense (benefit)7,479 (2,076)14,603 17,753 
Net income (loss)$22,266 $(7,977)$43,797 $59,705 
Earnings per common share
Basic$0.83 $(0.29)$1.63 $2.18 
Diluted$0.82 $(0.29)$1.61 $2.12 
Weighted average common shares outstanding
Basic26,790,752 27,209,521 26,836,114 27,433,851 
Diluted27,204,714 27,209,521 27,209,680 28,193,721 



7

AdvanSix Inc.
Condensed Consolidated Statements of Cash Flows
(Unaudited)
(Dollars in thousands)
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Cash flows from operating activities:
Net income (loss)$22,266 $(7,977)$43,797 $59,705 
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization 18,933 18,379 57,197 54,337 
Loss on disposal of assets 154 371 415 939 
Deferred income taxes 2,887 (2,825)3,638 1,069 
Stock-based compensation1,559 1,391 5,963 5,840 
Amortization of deferred financing fees155 155 464 464 
Operational asset adjustments— (4,472)1,200 (4,472)
Changes in assets and liabilities, net of business acquisitions:
Accounts and other receivables 21,073 20,062 15,069 42,185 
Inventories (37,607)(3,598)(1,603)(14,082)
Taxes receivable(196)(56)1,059 8,273 
Accounts payable 17,994 (4,245)(43,687)(50,123)
Income taxes payable(572)3,474 (7,598)2,136 
Accrued liabilities 4,839 (2,043)10,988 (7,787)
Deferred income and customer advances 369 82 (14,161)(32,015)
Other assets and liabilities 5,396 2,104 (1,493)(9,088)
Net cash provided by operating activities 57,250 20,802 71,248 57,381 
Cash flows from investing activities:
Expenditures for property, plant and equipment (30,490)(25,131)(99,373)(69,025)
Other investing activities(2,317)(370)(6,053)(2,404)
Net cash used for investing activities (32,807)(25,501)(105,426)(71,429)
Cash flows from financing activities:
Borrowings from line of credit54,000 140,500 311,500 371,000 
Payments of line of credit(69,000)(110,500)(266,500)(316,000)
Principal payments of finance leases(260)(242)(762)(698)
Dividend payments(4,276)(4,350)(12,858)(12,354)
Purchase of treasury stock(42)(9,266)(10,427)(37,651)
Issuance of common stock328 131 755 876 
Net cash provided by (used for) financing activities (19,250)16,273 21,708 5,173 
Net change in cash and cash equivalents 5,193 11,574 (12,470)(8,875)
Cash and cash equivalents at beginning of period12,105 10,536 29,768 30,985 
Cash and cash equivalents at the end of period$17,298 $22,110 $17,298 $22,110 
Supplemental non-cash investing activities:
Capital expenditures included in accounts payable $15,018 $21,188 
8

AdvanSix Inc.
Non-GAAP Measures
(Dollars in thousands, except share and per share amounts)
 
Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Net cash provided by operating activities $57,250 $20,802 $71,248 $57,381 
Expenditures for property, plant and equipment(30,490)(25,131)(99,373)(69,025)
Free cash flow (1)
$26,760 $(4,329)$(28,125)$(11,644)
(1) Free cash flow is a non-GAAP measure defined as Net cash provided by operating activities less Expenditures for property, plant and equipment

The Company believes that this metric is useful to investors and management as a measure to evaluate our ability to generate cash flow from business operations and the impact that this cash flow has on our liquidity.



Reconciliation of Net Income to Adjusted EBITDA and Earnings Per Share to Adjusted Earnings Per Share

Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Net income (loss)$22,266 $(7,977)$43,797 $59,705 
Non-cash stock-based compensation1,559 1,391 5,963 5,840 
Non-recurring, unusual or extraordinary (income) expense (2)
— (4,472)1,200 (4,472)
Non-cash amortization from acquisitions531 532 1,595 1,596 
Non-recurring M&A costs— — — — 
Income tax expense (benefit) relating to reconciling items(367)776 (1,594)(157)
Adjusted Net income (loss) (non-GAAP)23,989 (9,750)50,961 62,512 
Interest expense, net2,924 2,075 9,137 5,296 
Income tax expense (benefit) - Adjusted7,846 (2,852)16,197 17,911 
Depreciation and amortization - Adjusted18,402 17,848 55,602 52,741 
Adjusted EBITDA (non-GAAP)$53,161 $7,321 $131,897 $138,460 
Sales$398,187 $322,907 $1,188,495 $1,151,391 
Adjusted EBITDA Margin (non-GAAP) (3)
13.4%2.3%11.1%12.0%
(2) 2024 includes a pre-tax loss of approximately $1.2 million from the reduction of the Company’s anticipated receivable related to the gain on the termination fee recorded upon the exit from the Oben Holding Group S.A. alliance during the third quarter of 2023. During 2023, there were several transactions including the exit from the Oben Holding Group S.A. alliance, licensee exit of legacy technology and exit of certain low-margin oximes products that resulted in a $4.5 million net pre-tax loss.
(3) Adjusted EBITDA Margin is defined as Adjusted EBITDA divided by Sales



9



Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Net income (loss)$22,266 $(7,977)$43,797 $59,705 
Adjusted Net income (loss) (non-GAAP)23,989 (9,750)50,961 62,512 
Weighted-average number of common shares outstanding - basic26,790,752 27,209,521 26,836,114 27,433,851 
Dilutive effect of equity awards and other stock-based holdings413,962 — 373,566 759,870 
Weighted-average number of common shares outstanding - diluted27,204,714 27,209,521 27,209,680 28,193,721 
EPS - Basic$0.83 $(0.29)$1.63 $2.18 
EPS - Diluted$0.82 $(0.29)$1.61 $2.12 
Adjusted EPS - Basic (non-GAAP)$0.90 $(0.36)$1.90 $2.28 
Adjusted EPS - Diluted (non-GAAP)$0.88 $(0.36)$1.87 $2.22 

The Company believes the non-GAAP financial measures presented in this release provide meaningful supplemental information as they are used by the Company’s management to evaluate the Company’s operating performance, enhance a reader’s understanding of the financial performance of the Company, and facilitate a better comparison among fiscal periods and performance relative to its competitors, as these non-GAAP measures exclude items that are not considered core to the Company’s operations.

10

AdvanSix Inc.
Appendix
(Pre-tax income impact, Dollars in millions)
 
Planned Plant Turnaround Schedule (4)
1Q2Q3Q4QFY
Primary Unit Operation
2017—~$10~$4~$20~$34Sulfuric Acid
2018~$2~$10~$30—~$42Ammonia
2019—~$5~$5~$25~$35Sulfuric Acid
2020~$2~$7~$20~$2~$31Ammonia
2021~$3~$8—~$18~$29Sulfuric Acid
2022~$1~$5
~$44(5)
—~$50Ammonia
2023~$2~$1~$27—~$30Sulfuric Acid
2024E~$5~$3~$3
~$47(6)
~$58Ammonia

(4) Primarily reflects the impact of fixed cost absorption, maintenance expense, and the purchase of feedstocks which are normally manufactured by the Company.
(5) During the multi-site planned plant turnaround, additional required maintenance at our Frankford phenol plant contributed to reduced production across our integrated value chain and a delayed ramp to full operating rates at our Hopewell and Chesterfield sites, resulting in an incremental $15 million unfavorable impact to pre-tax income inclusive of fixed cost absorption, higher maintenance expense and lost sales.
(6) During the multi-site planned plant turnaround, additional required maintenance at our Hopewell plant contributed to reduced production across our integrated value chain and a delayed ramp to full operating rates, resulting in an incremental approximately $17 million unfavorable impact to pre-tax income inclusive of fixed cost absorption, higher maintenance expense, and lost sales


11
v3.24.3
Cover Page
Nov. 01, 2024
Cover [Abstract]  
Document Type 8-K
Document Period End Date Nov. 01, 2024
Entity Registrant Name ADVANSIX INC.
Entity Incorporation, State or Country Code DE
Entity File Number 1-37774
Entity Tax Identification Number 81-2525089
Entity Address, Address Line One 300 Kimball Drive
Entity Address, Address Line Two Suite 101
Entity Address, City or Town Parsippany
Entity Address, State or Province NJ
Entity Address, Postal Zip Code 07054
City Area Code 973
Local Phone Number 526-1800
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Title of 12(b) Security Common Stock, par value $0.01 per share
Trading Symbol ASIX
Security Exchange Name NYSE
Amendment Flag false
Entity Central Index Key 0001673985
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