The stock of AdvanSix Inc (ASIX) closed the recent trading session at $34.2. The stock lost 16.91% as compared to the previous trading session. During the last check, ASIX surged in the after-market, gaining 20.35% to $41.16. The company announced the financial results for the fourth quarter and full year of the fiscal year 2021. AdvanSix also filed for the Form 10-K and 8-K with the SEC on February 18, 2022. These forms were filed to report the quarterly and full-year earnings.
ASIX Financials
On February 18, 2022, AdvanSix Inc (ASIX) announced the financial results for the fourth quarter and full year of the fiscal year 2021. The main highlights of the financial results are
- ASIX posted sales of $424.06 million in Q4 of FY21 as compared to $340.2 million in the year-ago quarter. The full-year sales of the company were $1.6 billion in FY21 against $1.1 billion in FY20. The sales saw an increase of 24.6% and 45.4%, respectively.
- Net income for Q4 of FY21 was $23.5 million versus $26.7 million in Q4 of FY20. The full-year net income for 2021 was $139.7 million versus $46.07 million in 2020. The net income increased by -0.11% and 203.2%, respectively.
- Diluted EPS was $0.80 in the fourth quarter of FY21 as compared to $0.94 in the same quarter of FY20.
- The EBITDA of ASIX for the fourth quarter of FY21 was $49.2 million against $48.6 million in Q4 of FY20.
CEO Remarks
The CEO of AdvanSix (ASIX), Erin Kane, said that in 2021, they delivered outstanding results while navigating the COVID-19 pandemic, supply chain disruptions, and inflation. He further added that they achieved a record annual EBITDA and free cash flow, executed their first acquisition and reduced their debt.
Moreover, Mr. Kane said that their strong results indicate their resilience, strength, and leadership across their diversified portfolio.
