AdvanSix (NYSE: ASIX) Q2 net income falls 90% as sales rise 3% and dividend set
Rhea-AI Filing Summary
AdvanSix reported second quarter 2026 sales of $421 million, up 3% year-over-year, driven by 18% favorable pricing that offset a 15% volume decline, mainly in Plant Nutrients. Net income fell to about $3.2 million, down 90% from the prior-year period, with diluted EPS at $0.12 versus $1.15. Adjusted diluted EPS was $0.19 compared with $1.24, and Adjusted EBITDA declined to $31.9 million, a 43% drop, reducing Adjusted EBITDA margin to 7.6% from 13.6%. Free cash flow was negative $10.7 million.
By product line, 2Q 2026 sales were $100.2 million in Nylon (up 26%), $62.6 million in Caprolactam (down 6%), $131.4 million in Plant Nutrients (down 16%), and $127.0 million in Chemical Intermediates (up 18%). For the first half of 2026, the company recorded a net loss of $12.3 million and negative operating cash flow of $5.3 million. The board declared a quarterly cash dividend of $0.16 per share, payable September 1, 2026 to shareholders of record on August 18, 2026. Management expects 2026 capital expenditures of $75–$95 million versus $116 million in 2025 and estimates the 2026 pre-tax income impact of plant turnarounds at about $17 million, below $25 million in 2025, and projects sequential cash flow improvement in the second half of 2026.
Positive
- None.
Negative
- Net income down 90% year-over-year in 2Q 2026 to about $3.2 million, with diluted EPS falling to $0.12 from $1.15.
- Adjusted EBITDA declined 43% in 2Q 2026 to $31.9 million, compressing Adjusted EBITDA margin to 7.6% from 13.6%.
- Free cash flow deteriorated to -$10.7 million in 2Q 2026 and the company posted a $12.3 million net loss for the first half of 2026.
Filing Explained
At June 30, AdvanSix had $7,217 thousand in cash, $275,000 thousand in line-of-credit borrowings, and higher common-share counts than at year-end.
The Form 8-K reports AdvanSix’s second-quarter results and other material events; at June 30, 2026, it showed
The balance sheet also shows common shares issued rising from 33,177,824 at December 31, 2025 to 33,393,066 at June 30, 2026, while shares outstanding rose from 26,864,035 to 27,001,186. Under the disclosed dilution definition, a higher share count reduces an unchanged holder’s percentage ownership.
The filing does not identify in these statements why the issued and outstanding share counts changed, so the ownership effect can be described but not attributed to a particular mechanism.
8-K Event Classification
3 items: 2.02, 8.01, 9.01
3 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
2Q 2026 Sales: $421 million
2Q 2026 Net Income: $3.2 million
2Q 2026 Diluted EPS: $0.12
+5 more
8 metrics
2Q 2026 Sales
$421 million
Sales for the quarter ended June 30, 2026; 3% year-over-year increase
2Q 2026 Net Income
$3.2 million
Net income for 2Q 2026; 90% decline versus 2Q 2025
2Q 2026 Diluted EPS
$0.12
Diluted earnings per share for the quarter; down from $1.15 in 2Q 2025
2Q 2026 Adjusted EBITDA
$31.9 million
Adjusted EBITDA in 2Q 2026; 43% below 2Q 2025 with 7.6% margin
2Q 2026 Free Cash Flow
-$10.7 million
Free cash flow defined as operating cash flow minus capital expenditures
Quarterly Dividend
$0.16 per share
Cash dividend payable September 1, 2026 to shareholders of record August 18, 2026
2026 Capital Expenditure Guidance
$75–$95 million
Expected 2026 capex versus $116 million spent in 2025
2026E Turnaround Impact
$17 million
Estimated pre-tax income impact of 2026 planned plant turnarounds
Key Terms
Adjusted EBITDA, Free cash flow, 45Q carbon capture tax credits, plant turnarounds, +1 more
5 terms
Adjusted EBITDA financial
"Adjusted EBITDA (non-GAAP) | | | | | $ | 31,888"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
Free cash flow financial
"Free cash flow is a non-GAAP measure defined as Net cash provided by operating activities"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
45Q carbon capture tax credits financial
"higher effective tax rate driven primarily by 45Q carbon capture tax credits claimed"
A federal tax credit that pays a set amount for each metric ton of carbon dioxide a project captures and permanently stores or uses in a durable way, similar to receiving a rebate for each bag of trash you divert from a landfill. It matters to investors because it directly improves the economics and cash flows of carbon-capture projects, lowers project risk by subsidizing operating costs, and can materially affect valuations and financing decisions for companies pursuing emission reductions.
plant turnarounds technical
"Now expect pre-tax income impact of plant turnarounds to be approximately $17 million"
non-GAAP financial measures financial
"This press release includes certain non-GAAP financial measures intended to supplement"
Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.
Earnings Snapshot
Sales: $421 million · Guidance included
quarter ended June 30, 2026
Sales
$421 million
up 3% versus 2Q 2025
Net income
$3.2 million
down 90% versus 2Q 2025
Diluted EPS
$0.12
down 90% versus 2Q 2025
Adjusted diluted EPS
$0.19
down 85% versus 2Q 2025
Adjusted EBITDA
$31.9 million
down 43% versus 2Q 2025
Operating cash flow
$10.0 million
down 52% versus 2Q 2025
Free cash flow
-$10.7 million
49% more negative versus 2Q 2025
Guidance
Management expects North American ammonium sulfate pricing to decline sequentially in 3Q 2026, 2026 capex of $75–$95 million, approximately $17 million pre-tax impact from 2026 plant turnarounds, and sequential cash flow improvement in the second half of 2026 driven by lower capex, working capital tailwinds, timing of annual payments, and cash tax optimization.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
How did AdvanSix (ASIX) perform financially in the second quarter of 2026?
AdvanSix reported 2Q 2026 sales of $421 million, up 3% year-over-year, but net income fell 90% to about $3.2 million. Adjusted EBITDA declined to $31.9 million and Adjusted EPS decreased to $0.19 from $1.24.
What were AdvanSix (ASIX) segment sales in Q2 2026?
In 2Q 2026, AdvanSix generated $100.2 million in Nylon sales, $62.6 million in Caprolactam, $131.4 million in Plant Nutrients, and $127.0 million in Chemical Intermediates. Plant Nutrients declined 16%, while Nylon and Chemical Intermediates grew 26% and 18%, respectively.
What dividend did AdvanSix (ASIX) declare with its Q2 2026 results?
AdvanSix’s board declared a quarterly cash dividend of $0.16 per share on its common stock. The dividend is payable on September 1, 2026 to stockholders of record as of the close of business on August 18, 2026.
How did AdvanSix (ASIX) cash flow and free cash flow trend in Q2 2026?
In 2Q 2026, AdvanSix generated $10.0 million of cash flow from operations, down from $21.1 million a year earlier. After $20.7 million of capital expenditures, free cash flow was -$10.7 million, compared with -$7.2 million in 2Q 2025.
What guidance did AdvanSix (ASIX) provide on 2026 capital spending and turnaround impacts?
AdvanSix continues to expect 2026 capital expenditures of $75–$95 million, versus $116 million in 2025. It now projects the pre-tax income impact of plant turnarounds at approximately $17 million in 2026, down from about $25 million in 2025.
What is AdvanSix’s (ASIX) outlook for cash flow in the second half of 2026?
Management expects sequential cash flow improvement in the second half of 2026. Drivers include a reduced capital expenditure run-rate, working capital tailwinds such as a 4Q 2026 pre-buy program in Plant Nutrients, timing of annual payments, and cash tax optimization.
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): August 7, 2026
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||
(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 class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
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 August 7, 2026, AdvanSix Inc. (the "Company") issued a press release announcing its financial results for the quarter ended June 30, 2026. A copy of the press release is furnished herewith as Exhibit 99.1.
ITEM 8.01 Other Events.
Dividend
On August 7, 2026, 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 September 1, 2026 to stockholders of record as of the close of business on August 18, 2026.
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 | Press Release dated August 7, 2026 | |||||||
| 104 | Cover 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: August 7, 2026
| AdvanSix Inc. | ||||||||
| By: | /s/ Achilles B. Kintiroglou | |||||||
| Name: | Achilles B. Kintiroglou | |||||||
| Title: | Senior Vice President, General Counsel and Corporate Secretary | |||||||
Exhibit 99.1
News Release
ADVANSIX ANNOUNCES SECOND QUARTER 2026 FINANCIAL RESULTS
2Q26 Sales of $421 million, up 3% versus prior year
2Q26 Earnings Per Share of $0.12; Adjusted Earnings Per Share of $0.19
2Q26 Cash Flow from Operations of $10 million
Parsippany, N.J., August 7, 2026 - AdvanSix (NYSE: ASIX), a vertically integrated chemistry company serving diverse end markets, today announced its financial results for the second quarter ending June 30, 2026.
Second Quarter 2026 Summary
"Our resilient second quarter results reflected a significant sequential improvement in earnings and cash flow amid what remains a highly dynamic macro environment, particularly in Plant Nutrients,” said Erin Kane, president and CEO of AdvanSix. "We generated 3% sales growth year-over-year as our commercial teams continued to leverage both formula and market-based pricing mechanisms to offset inflationary raw material costs. Sales volume in the quarter fell short of expectations due to a decline in ammonium sulfate as the spring planting season was challenged by farmer profitability and resulting fertilizer consumption overall. Nylon Solutions and Chemical Intermediates both performed at or better than expectations as we continue to navigate a subdued industrial end market demand environment. We have a demonstrated track record of successfully performing through a multitude of environments and remain confident in our ability to deliver long-term value."
Summary second quarter 2026 financial results for the Company are included below:
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($ in Thousands, Except Earnings Per Share) | 2Q 2026 | 2Q 2025 | Variance $ | Variance % | |||||||||||||||||||
| Sales | $421,284 | $410,022 | $11,262 | 3% | |||||||||||||||||||
| Net Income | 3,248 | 31,371 | (28,123) | (90%) | |||||||||||||||||||
| Diluted Earnings Per Share | 0.12 | 1.15 | (1.03) | (90%) | |||||||||||||||||||
Adjusted Diluted Earnings Per Share (1) | 0.19 | 1.24 | (1.05) | (85%) | |||||||||||||||||||
Adjusted EBITDA (1) | 31,888 | 55,675 | (23,787) | (43%) | |||||||||||||||||||
Adjusted EBITDA Margin % (1) | 7.6% | 13.6% | (600) bps | n/a | |||||||||||||||||||
| Cash Flow from Operations | 10,038 | 21,110 | (11,072) | (52%) | |||||||||||||||||||
| Capital Expenditures | 20,714 | 28,265 | (7,551) | (27%) | |||||||||||||||||||
Free Cash Flow (1)(2) | (10,676) | (7,155) | (3,521) | (49%) | |||||||||||||||||||
(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 $421 million in the quarter increased approximately 3% versus the prior year driven by 18% favorable pricing, partially offset by a 15% decline in volume. Raw material pass-through pricing was up 13% following a net cost increase in benzene and propylene (inputs to cumene which is a key feedstock to our products). Market-based pricing improved by 5% primarily driven by an increase in Plant Nutrients reflecting higher nitrogen pricing amid increased sulfur input costs. Lower sales volume was primarily driven by more challenging agricultural fundamentals including farmer economics, which resulted in a reduction of in-season fertilizer purchases.
Sales by product line and approximate percentage of total sales are included below:
| ($ in Thousands) | 2Q 2026 | 2Q 2025 | |||||||||||||||||||||||||||
| Sales | % of Total | Sales | % of Total | Variance % | |||||||||||||||||||||||||
| Nylon | $ | 100,218 | 24% | $ | 79,503 | 20% | 26% | ||||||||||||||||||||||
| Caprolactam | 62,644 | 15% | 66,424 | 16% | (6%) | ||||||||||||||||||||||||
| Plant Nutrients | 131,439 | 31% | 156,770 | 38% | (16%) | ||||||||||||||||||||||||
| Chemical Intermediates | 126,983 | 30% | 107,325 | 26% | 18% | ||||||||||||||||||||||||
| Total | $ | 421,284 | 100% | $ | 410,022 | 100% | 3% | ||||||||||||||||||||||
Adjusted EBITDA of $31.9 million in the quarter decreased $23.8 million versus the prior year primarily driven by the unfavorable impact of lower sales volume in Plant Nutrients and reduced production output, partially offset by a planned reduction in SG&A expense.
Adjusted earnings per share of $0.19 decreased $1.05 versus the prior year driven primarily by the factors discussed above and a higher effective tax rate driven primarily by 45Q carbon capture tax credits claimed in the prior year period.
2
Cash flow from operations of $10.0 million in the quarter decreased $11.1 million versus the prior year primarily due to lower net income. Capital expenditures of $20.7 million in the quarter decreased $7.6 million versus the prior year, as expected.
Outlook
•North American ammonium sulfate fill program expected to drive 3Q26 sequential domestic pricing decline amid competitive dynamics and continued higher sulfur input cost environment
•Acetone spread over propylene costs expected to hold near cycle averages for the full year 2026
•Continue to optimize Nylon Solutions production output, inventories and sales volume mix in extended soft industrial end market environment
•Continue to expect Capital Expenditures of $75 to $95 million in 2026 versus $116 million in 2025, reflecting risk-based prioritization of base investments and enterprise programs with continued progression of growth programs including SUSTAIN
•Now expect pre-tax income impact of plant turnarounds to be approximately $17 million in 2026 versus approximately $25 million in 2025
•Expect 2H 2026 sequential cash flow improvement primarily due to a reduced Capital Expenditures run-rate, working capital tailwinds including our 4Q 2026 pre-buy program in Plant Nutrients, timing of annual payments paid in 1H 2026, and cash tax optimization
"Key to our strategy is a keen focus on controllable levers to support through-cycle profitability and cash conversion, while progressing targeted growth strategies and initiatives. We remain focused on delivering on our non-manpower fixed cost savings program, risk-based prioritization of our capital investments, continued working capital discipline and 45Q carbon capture tax credits to support improved cash flow generation. As we move through the remainder of 2026 and navigate the current industry environment, we are well positioned to support our strategic priorities as a U.S.-based integrated manufacturer aligned to domestic supply chains and energy markets as well as a diverse set of end market applications," concluded Kane.
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 September 1, 2026 to stockholders of record as of the close of business on August 18, 2026.
Conference Call Information
AdvanSix will discuss its results during its investor conference call today starting at 9:30 a.m. ET. To participate on the conference call, dial (844) 855-9494 (domestic) or (412) 858-4602 (international) approximately 10 minutes before the 9:30 a.m. ET start, and tell the operator that you are dialing in for AdvanSix’s second quarter 2026 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 August 7 until 12 noon ET on August 14 by dialing (855) 669-9658 (domestic) or (412) 317-0088 (international). The access code is 2279374.
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About AdvanSix
AdvanSix is a vertically integrated chemistry company that produces essential materials for our customers across diverse end markets. Our 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, tariffs or the imposition of new tariffs, trade wars, barriers or restrictions, or threats of such actions, changes in interest rates, 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 new or proposed legislation or regulatory, trade or other policies in or impacting the U.S., the conflict between Russia and Ukraine, the conflicts in the Middle East, as well as any related uncertainty in the surrounding region, 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 potential use of artificial intelligence in our operations or those of third party service providers; 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, 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 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 materially from those contemplated by such forward-looking statements as a result of a number of risks, uncertainties and other factors including those noted above and those identified 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, 2025, as updated in subsequent reports filed with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. We do not undertake to update or revise any of our forward-looking statements.
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.
# # #
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| Contacts: | |||||
| Media | Investors | ||||
| Janeen Lawlor | Adam Kressel | ||||
| (973) 526-1615 | (973) 526-1700 | ||||
| janeen.lawlor@advansix.com | adam.kressel@advansix.com | ||||
5
AdvanSix Inc.
Condensed Consolidated Balance Sheets
(Unaudited)
(Dollars in thousands, except share and per share amounts)
| June 30, 2026 | December 31, 2025 | ||||||||||
| ASSETS | |||||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ | 7,217 | $ | 19,766 | |||||||
| Accounts and other receivables – net | 187,429 | 154,102 | |||||||||
| Inventories – net | 194,145 | 236,495 | |||||||||
| Taxes receivable | 20,510 | 21,605 | |||||||||
| Other current assets | 15,560 | 8,639 | |||||||||
| Total current assets | 424,861 | 440,607 | |||||||||
| Property, plant and equipment – net | 964,867 | 963,718 | |||||||||
| Operating lease right-of-use assets | 147,454 | 164,494 | |||||||||
| Goodwill | 56,192 | 56,192 | |||||||||
| Intangible assets | 38,570 | 40,095 | |||||||||
| Other assets | 41,072 | 41,042 | |||||||||
| Total assets | $ | 1,673,016 | $ | 1,706,148 | |||||||
| LIABILITIES | |||||||||||
| Current liabilities: | |||||||||||
| Accounts payable | $ | 243,287 | $ | 284,016 | |||||||
| Accrued liabilities | 43,558 | 45,945 | |||||||||
| Income taxes payable | 73 | 1,100 | |||||||||
| Operating lease liabilities – short-term | 42,841 | 44,354 | |||||||||
| Deferred income and customer advances | 1,980 | 14,536 | |||||||||
| Total current liabilities | 331,739 | 389,951 | |||||||||
| Deferred income taxes | 152,172 | 154,061 | |||||||||
| Operating lease liabilities – long-term | 106,100 | 121,201 | |||||||||
| Line of credit – long-term | 275,000 | 215,000 | |||||||||
| Other liabilities | 11,093 | 10,719 | |||||||||
| Total liabilities | 876,104 | 890,932 | |||||||||
| STOCKHOLDERS' EQUITY | |||||||||||
Common stock, par value $0.01; 200,000,000 shares authorized; 33,393,066 shares issued and 27,001,186 outstanding at June 30, 2026; 33,177,824 shares issued and 26,864,035 outstanding at December 31, 2025 | 334 | 332 | |||||||||
Preferred stock, par value $0.01; 50,000,000 shares authorized; 0 shares issued and outstanding at June 30, 2026 and December 31, 2025 | — | — | |||||||||
Treasury stock at par (6,391,880 shares at June 30, 2026; 6,313,789 shares at December 31, 2025) | (64) | (63) | |||||||||
| Additional paid-in capital | 145,991 | 142,932 | |||||||||
| Retained earnings | 641,669 | 663,019 | |||||||||
| Accumulated other comprehensive income | 8,982 | 8,996 | |||||||||
| Total stockholders' equity | 796,912 | 815,216 | |||||||||
| Total liabilities and stockholders' equity | $ | 1,673,016 | $ | 1,706,148 | |||||||
6
AdvanSix Inc.
Condensed Consolidated Statements of Operations
(Unaudited)
(Dollars in thousands, except share and per share amounts)
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Sales | $ | 421,284 | $ | 410,022 | $ | 825,468 | $ | 787,813 | |||||||||||||||
| Costs, expenses and other: | |||||||||||||||||||||||
| Cost of goods sold | 390,183 | 351,308 | 790,565 | 675,628 | |||||||||||||||||||
| Selling, general and administrative expenses | 22,054 | 25,416 | 44,572 | 48,825 | |||||||||||||||||||
| Interest expense, net | 2,608 | 2,255 | 5,038 | 3,796 | |||||||||||||||||||
| Other non-operating income, net | (215) | (607) | (684) | (1,015) | |||||||||||||||||||
| Total costs, expenses and other | 414,630 | 378,372 | 839,491 | 727,234 | |||||||||||||||||||
| Income (loss) before taxes | 6,654 | 31,650 | (14,023) | 60,579 | |||||||||||||||||||
| Income tax expense (benefit) | 3,406 | 279 | (1,725) | 5,864 | |||||||||||||||||||
| Net income (loss) | $ | 3,248 | $ | 31,371 | $ | (12,298) | $ | 54,715 | |||||||||||||||
| Earnings per common share | |||||||||||||||||||||||
| Basic | $ | 0.12 | $ | 1.17 | $ | (0.46) | $ | 2.04 | |||||||||||||||
| Diluted | $ | 0.12 | $ | 1.15 | $ | (0.46) | $ | 2.01 | |||||||||||||||
| Weighted average common shares outstanding | |||||||||||||||||||||||
| Basic | 27,046,372 | 26,896,037 | 27,013,738 | 26,867,252 | |||||||||||||||||||
| Diluted | 27,602,088 | 27,223,309 | 27,013,738 | 27,248,976 | |||||||||||||||||||
7
AdvanSix Inc.
Condensed Consolidated Statements of Cash Flows
(Unaudited)
(Dollars in thousands)
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Cash flows from operating activities: | |||||||||||||||||||||||
| Net income (loss) | $ | 3,248 | $ | 31,371 | $ | (12,298) | $ | 54,715 | |||||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||||||||||||
| Depreciation and amortization | 20,793 | 19,461 | 41,751 | 38,639 | |||||||||||||||||||
| (Gain) loss on disposal of assets | 130 | 33 | 134 | (177) | |||||||||||||||||||
| Deferred income taxes | 1,531 | 2,592 | (1,889) | 6,646 | |||||||||||||||||||
| Stock-based compensation | 1,833 | 2,309 | 3,878 | 4,287 | |||||||||||||||||||
| Amortization of deferred financing fees | 181 | 154 | 304 | 309 | |||||||||||||||||||
| Changes in assets and liabilities, net of business acquisitions: | |||||||||||||||||||||||
| Accounts and other receivables | 20,156 | 19,658 | (33,341) | (13,994) | |||||||||||||||||||
| Inventories | 7,213 | 1,093 | 42,350 | (9,378) | |||||||||||||||||||
| Taxes receivable | 1,582 | (15,188) | 1,095 | (14,740) | |||||||||||||||||||
| Accounts payable | (39,096) | (6,939) | (22,934) | 12,423 | |||||||||||||||||||
| Income taxes payable | (506) | (2,206) | (1,027) | (663) | |||||||||||||||||||
| Accrued liabilities | 13,162 | 5,510 | (2,001) | 561 | |||||||||||||||||||
| Deferred income and customer advances | (9,323) | (24,724) | (12,556) | (35,680) | |||||||||||||||||||
| Other assets and liabilities | (10,866) | (12,014) | (8,760) | (10,395) | |||||||||||||||||||
| Net cash provided by (used for) operating activities | 10,038 | 21,110 | (5,294) | 32,553 | |||||||||||||||||||
| Cash flows from investing activities: | |||||||||||||||||||||||
| Expenditures for property, plant and equipment | (20,714) | (28,265) | (56,650) | (62,327) | |||||||||||||||||||
| Other investing activities | 5 | (3,159) | (222) | (5,891) | |||||||||||||||||||
| Net cash used for investing activities | (20,709) | (31,424) | (56,872) | (68,218) | |||||||||||||||||||
| Cash flows from financing activities: | |||||||||||||||||||||||
| Borrowings from line of credit | 122,000 | 113,000 | 261,500 | 231,500 | |||||||||||||||||||
| Repayments of line of credit | (117,000) | (88,000) | (201,500) | (186,500) | |||||||||||||||||||
| Principal payments of finance leases | (250) | (244) | (513) | (491) | |||||||||||||||||||
| Dividend payments | (4,314) | (4,290) | (8,627) | (8,580) | |||||||||||||||||||
| Purchase of treasury stock | (122) | (51) | (1,397) | (1,537) | |||||||||||||||||||
| Issuance of common stock | — | 1 | 154 | 155 | |||||||||||||||||||
| Net cash provided by financing activities | 314 | 20,416 | 49,617 | 34,547 | |||||||||||||||||||
| Net change in cash and cash equivalents | (10,357) | 10,102 | (12,549) | (1,118) | |||||||||||||||||||
| Cash and cash equivalents at beginning of period | 17,574 | 8,344 | 19,766 | 19,564 | |||||||||||||||||||
| Cash and cash equivalents at the end of period | $ | 7,217 | $ | 18,446 | $ | 7,217 | $ | 18,446 | |||||||||||||||
| Supplemental non-cash investing activities: | |||||||||||||||||||||||
| Capital expenditures included in accounts payable | $ | 9,301 | $ | 14,762 | |||||||||||||||||||
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 June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Net cash provided by (used for) operating activities | $ | 10,038 | $ | 21,110 | $ | (5,294) | $ | 32,553 | |||||||||||||||
| Expenditures for property, plant and equipment | (20,714) | (28,265) | (56,650) | (62,327) | |||||||||||||||||||
Free cash flow (1) | $ | (10,676) | $ | (7,155) | $ | (61,944) | $ | (29,774) | |||||||||||||||
(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 June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Net income (loss) | $ | 3,248 | $ | 31,371 | $ | (12,298) | $ | 54,715 | |||||||||||||||
| Non-cash stock-based compensation | 1,833 | 2,309 | 3,878 | 4,287 | |||||||||||||||||||
| Non-cash amortization from acquisitions | 531 | 531 | 1,063 | 1,063 | |||||||||||||||||||
| Strategic advisory and professional fees | — | — | — | — | |||||||||||||||||||
| Income tax benefit relating to reconciling items | (408) | (479) | (848) | (909) | |||||||||||||||||||
| Adjusted Net income (loss) (non-GAAP) | 5,204 | 33,732 | (8,205) | 59,156 | |||||||||||||||||||
| Interest expense, net | 2,608 | 2,255 | 5,038 | 3,796 | |||||||||||||||||||
| Income tax expense (benefit) - Adjusted | 3,814 | 758 | (877) | 6,773 | |||||||||||||||||||
| Depreciation and amortization - Adjusted | 20,262 | 18,930 | 40,688 | 37,576 | |||||||||||||||||||
| Adjusted EBITDA (non-GAAP) | $ | 31,888 | $ | 55,675 | $ | 36,644 | $ | 107,301 | |||||||||||||||
| Sales | $ | 421,284 | $ | 410,022 | $ | 825,468 | $ | 787,813 | |||||||||||||||
Adjusted EBITDA Margin (non-GAAP) (2) | 7.6% | 13.6% | 4.4% | 13.6% | |||||||||||||||||||
(2) Adjusted EBITDA Margin is defined as Adjusted EBITDA divided by Sales | |||||||||||||||||||||||
9
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Net income (loss) | $ | 3,248 | $ | 31,371 | $ | (12,298) | $ | 54,715 | |||||||||||||||
| Adjusted Net income (loss) (non-GAAP) | 5,204 | 33,732 | (8,205) | 59,156 | |||||||||||||||||||
| Weighted-average number of common shares outstanding - basic | 27,046,372 | 26,896,037 | 27,013,738 | 26,867,252 | |||||||||||||||||||
| Dilutive effect of equity awards and other stock-based holdings | 555,716 | 327,272 | — | 381,724 | |||||||||||||||||||
| Weighted-average number of common shares outstanding - diluted | 27,602,088 | 27,223,309 | 27,013,738 | 27,248,976 | |||||||||||||||||||
| EPS - Basic | $ | 0.12 | $ | 1.17 | $ | (0.46) | $ | 2.04 | |||||||||||||||
| EPS - Diluted | $ | 0.12 | $ | 1.15 | $ | (0.46) | $ | 2.01 | |||||||||||||||
| Adjusted EPS - Basic (non-GAAP) | $ | 0.19 | $ | 1.25 | $ | (0.30) | $ | 2.20 | |||||||||||||||
| Adjusted EPS - Diluted (non-GAAP) | $ | 0.19 | $ | 1.24 | $ | (0.30) | $ | 2.17 | |||||||||||||||
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 (3)
| 1Q | 2Q | 3Q | 4Q | FY | Primary Unit Operation | |||||||||||||||
| 2017 | — | ~$10 | ~$4 | ~$20 | ~$34 | Sulfuric Acid | ||||||||||||||
| 2018 | ~$2 | ~$10 | ~$30 | — | ~$42 | Ammonia | ||||||||||||||
| 2019 | — | ~$5 | ~$5 | ~$25 | ~$35 | Sulfuric Acid | ||||||||||||||
| 2020 | ~$2 | ~$7 | ~$20 | ~$2 | ~$31 | Ammonia | ||||||||||||||
| 2021 | ~$3 | ~$8 | — | ~$18 | ~$29 | Sulfuric Acid | ||||||||||||||
| 2022 | ~$1 | ~$5 | ~$44(4) | — | ~$50 | Ammonia | ||||||||||||||
| 2023 | ~$2 | ~$1 | ~$27 | — | ~$30 | Sulfuric Acid | ||||||||||||||
| 2024 | ~$5 | ~$3 | ~$3 | ~$47(5) | ~$58 | Ammonia | ||||||||||||||
| 2025 | ~$5 | ~$6 | — | ~$14 | ~$25 | Sulfuric Acid | ||||||||||||||
| 2026E | — | ~$10 | — | ~$7 | ~$17 | Ammonia | ||||||||||||||
(3) Primarily reflects the impact of fixed cost absorption, maintenance expense, and the purchase of feedstocks which are normally manufactured by the Company.
(4) 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, which is reflected in this amount and is inclusive of fixed cost absorption, higher maintenance expense and lost sales.
(5) 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, which is reflected in this amount and is inclusive of fixed cost absorption, higher maintenance expense, and lost sales.
11