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AdvanSix Reports Sharp Decline In Q1 Earnings, But Sees Silver Lining In Supply Dynamics

AdvanSix Inc (NYSE:ASIX) reported a first-quarter 2024 sales decline of 16% year-to-year to $336.829 million, missing the consensus of $344.633 million. The sales decline was due to a 9% unfavorable impact of market-based pricing and a 7% decrease in volume primarily due to the operational disruption at the Frankford site. Adjusted EPS was negative 56 cents, down from $1.30 a year ago, missing the negative 54 cents consensus. See Also: Federal Reserve Takes Cautious Stand On Inflation, Powell Signals Preference For Rate Cuts Over Hikes Adjusted EBITDA declined to $595 thousand from $65.35 million a year ago, with margin contracting to ...