Welcome to our dedicated page for Ascent Industries Co. news (Ticker: ACNT), a resource for investors and traders seeking the latest updates and insights on Ascent Industries Co. stock.
Ascent Industries Co. (Nasdaq: ACNT) is a specialty chemicals platform that, in its own disclosures, focuses on the development, production, and distribution of tailored, performance-driven chemical solutions. The company highlights a Chemicals-as-a-Service (CaaS) model and describes itself as a pure-play specialty chemicals business following the sale of its former tubular assets.
This news page aggregates ACNT-related updates drawn from company press releases and regulatory disclosures. Readers can review announcements on quarterly and annual financial results, where Ascent discusses trends in net sales, gross profit, margins, and non-GAAP measures such as EBITDA and Adjusted EBITDA. Management commentary in these releases often addresses cost management, strategic sourcing, product-line optimization, and the performance of the CaaS platform.
News items also cover capital allocation decisions, including Board-authorized stock repurchase programs and the use of Rule 10b5-1 trading plans to facilitate share repurchases. Additional coverage includes portfolio actions such as the completed sales of Bristol Metals, LLC (BRISMET) and American Stainless Tubing, Inc. (ASTI), which the company identifies as key steps in its transformation into a pure-play specialty chemicals company.
Investors can also find updates on index inclusion, such as Ascent’s addition to the Russell 2000 and Russell 3000 indexes, and information about investor conference participation and earnings conference calls. By following this page, users can monitor how Ascent describes the evolution of its chemicals platform, its end-market exposure, and its approach to shareholder returns through time.
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Ascent Industries Co. (Nasdaq: ACNT) has appointed Bill Steckel as its new chief financial officer, effective immediately. He succeeds Aaron Tam, who resigned from the position. With over two decades of operational finance experience, Steckel previously served as CFO in notable companies, including Great Lakes Dredge & Dock Corporation (Nasdaq: GLDD), where he achieved significant revenue and EBITDA growth. His expertise spans across financial planning, analysis, and capital markets. President and CEO Chris Hutter emphasized Steckel's operational mindset and transformative track record that will bolster the company’s efforts towards sustainable growth and enhanced long-term shareholder value. Steckel holds an MBA from Western Illinois University and is a Certified Public Accountant (Inactive).
Ascent Industries Co. (Nasdaq: ACNT) reported significant financial results for Q4 and the full year 2022, showing a 23.7% increase in net sales, totaling $414.1 million. Despite this growth, Q4 net income fell 98.4% to $0.1 million, and adjusted EBITDA decreased to negative $2.0 million. The gross profit margin also dipped to 2.0% in Q4, down from 20.8% in Q4 2021. The company aims to enhance profitability by reducing operations at its unprofitable Munhall facility, focusing on specialty chemicals, which grew 59% in net sales for the year.
Ascent Industries Co. (NASDAQ: ACNT) will hold a conference call on March 31, 2023, at 8:30 a.m. Eastern time to discuss its financial results for the fourth quarter and full year ended December 31, 2022. The results will be released in a press release prior to the call. Investors can join via a live registration link or access a webcast. Ascent focuses on producing and distributing industrial tubular products and specialty chemicals. For further details, visit www.ascentco.com.
Ascent Industries Co. (Nasdaq: ACNT) reported its third quarter 2022 results, marking a 16% increase in net sales to $100.2 million, continuing six consecutive quarters of year-over-year sales growth. However, gross profit fell 36% to $11.6 million, with a gross profit margin decline of 940bps to 11.5%. Net income plummeted 92% to $0.6 million or $0.06 per diluted share. The tubular segment saw minimal growth, while the chemicals segment experienced a significant 70% rise in sales. Management remains focused on increasing market share and optimizing profitability.
Ascent Industries Co. (Nasdaq: ACNT) will participate in the Sidoti Virtual Investor Conference on November 9-10, 2022. The company is scheduled to present on November 9 at 2:30 p.m. Eastern time, with one-on-one meetings available throughout the event. The presentation will be live-streamed and can be accessed for replay through their website's investor relations section. Ascent Industries focuses on producing and distributing industrial tubular products and specialty chemicals. For more details, visit www.ascentco.com/investors.
Ascent Industries Co. (NASDAQ: ACNT) will host a conference call on November 8, 2022, at 5:00 p.m. ET to discuss its third quarter financial results ending September 30, 2022. The results will be shared in a press release before the call. Interested participants can register through the provided links for live access and future replays.
The company specializes in producing industrial tubular products and specialty chemicals and aims to keep stakeholders informed through this earnings call.
Ascent Industries Co. (Nasdaq: ACNT) will participate in D.A. Davidson’s 21st Annual Diversified Industrials & Services Conference on September 22-23, 2022, in Nashville, TN. Executive Chairman Ben Rosenzweig and President and CEO Chris Hutter will conduct one-on-one meetings during the event. Attendees interested in additional information or scheduling meetings can contact their D.A. Davidson representative or Ascent’s investor relations team via email at ACNT@gatewayir.com.
Ascent specializes in industrial tubular products and specialty chemicals.
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