AdvanSix Clocks 27% Revenue Growth In Q1

AdvanSix Inc ASIX reported first-quarter FY22 sales growth of 27% year-over-year to $479.07 million, missing the consensus of $481.77 million.
Adjusted EPS improved to $2.26 compared to $1.05 in 1Q21, beating the consensus of $1.71.
AdvanSix' net cash provided by operating activities for the quarter totaled $49.16 million, compared to $57.1 million a year ago. Free cash flow was $28.14 million.
Adjusted EBITDA increased to $103.16 million (+79.2% Y/Y), and the margin expanded by 623 bps to 21.5%.
ASIX repurchased 181,536 shares at an average share price of $38.61 for ~$7 million.
Dividend: The company declared a quarterly cash dividend of $0.125 per share, payable on May 31, 2022, to stockholders of record on May 17, 2022.
"Looking forward, we see healthy to strong demand across our end markets, and in particular a set of constructive industry factors in agriculture and nitrogen and sulfur fertilizers. While the macro environment remains dynamic on a number of fronts, our cost-advantaged asset base and diverse product portfolio continue to support our expectations for significant earnings growth and robust cash flow in 2022,” commented CEO Erin Kane.
FY22 Outlook: The company expects continued healthy demand for nylon and chemical intermediates in North America. The company targets significant earnings growth in 2022.
It expects Capital Expenditures of $95 million - $105 million.
Price Action: ASIX shares are trading higher by 0.67% at $47.43 on the last check Friday.

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