Workflow
AdvanSix (ASIX) Q2 Earnings and Revenues Surpass Estimates
ASIXAdvanSix(ASIX) ZACKS·2024-08-02 12:50

Company Performance - AdvanSix reported quarterly earnings of 1.55pershare,exceedingtheZacksConsensusEstimateof1.55 per share, exceeding the Zacks Consensus Estimate of 1.20 per share, and up from 1.25pershareayearago,representinganearningssurpriseof29.171.25 per share a year ago, representing an earnings surprise of 29.17% [1] - The company posted revenues of 453.48 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 6.25% and increasing from 427.94millionyear−over−year[1]−Overthelastfourquarters,AdvanSixhassurpassedconsensusEPSestimatestwotimesandrevenueestimatestwotimes[1]FutureOutlook−ThesustainabilityofAdvanSix′sstockpricemovementwilldependonmanagement′scommentaryduringtheearningscallandfutureearningsexpectations[2]−ThecurrentconsensusEPSestimatefortheupcomingquarteris427.94 million year-over-year [1] - Over the last four quarters, AdvanSix has surpassed consensus EPS estimates two times and revenue estimates two times [1] Future Outlook - The sustainability of AdvanSix's stock price movement will depend on management's commentary during the earnings call and future earnings expectations [2] - The current consensus EPS estimate for the upcoming quarter is 0.49 on revenues of 371.05million,andforthecurrentfiscalyear,itis371.05 million, and for the current fiscal year, it is 1.50 on revenues of 1.56billion[4]−TheestimaterevisionstrendforAdvanSixismixed,resultinginaZacksRank3(Hold),indicatingexpectedperformanceinlinewiththemarket[4]IndustryContext−TheChemical−Specialtyindustry,towhichAdvanSixbelongs,iscurrentlyinthetop331.56 billion [4] - The estimate revisions trend for AdvanSix is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [4] Industry Context - The Chemical - Specialty industry, to which AdvanSix belongs, is currently in the top 33% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [5] - Another company in the same industry, Arcadium, is expected to report quarterly earnings of 0.05 per share, reflecting a year-over-year decline of 90.2%, with revenues projected at $253.63 million, up 7.6% from the previous year [5][6]