AdvanSix (ASIX) Q3 2026 earnings summary

Executive summary

• Q3 sales rose 15% YoY to $430.8M on 17% higher pricing, partly offset by a 2% volume decline; reduced output and raw-material inflation weighed on earnings.

• Net loss was $7.6M versus $2.6M a year earlier; Adjusted EBITDA fell to $14.6M from $24.7M, and adjusted diluted EPS was $(0.24) versus $0.08.

Financial highlights

• Q3 sales were $430.8M, up $56.3M YoY; pricing rose 17% and volume declined 2%.

• Adjusted EBITDA was $14.6M, down $10.1M YoY; GAAP net loss was $7.6M, or $(0.28) diluted EPS, and adjusted EPS was $(0.24).

• Operating cash flow rose $21.4M YoY to $48.0M; capex fell $8.2M to $18.3M, and quarterly free cash flow was $29.7M versus $0.1M.

• Nine-month sales were $1.256B versus $1.162B; net loss was $19.9M versus net income of $52.1M, and Adjusted EBITDA was $51.3M versus $132.0M.

• YTD operating cash flow was $42.7M, down $16.5M YoY; YTD free cash flow was $(32)M versus $(30)M, while YTD working capital was a $24M source of cash versus a $56M use.

Outlook and guidance

• FY2026 capex is expected at ~$90M, versus $116M in 2025; management expects calendar-year break-even free cash flow excluding an expected $18M 45Q refund.

• Working-capital tailwinds are expected into Q4 from ammonium sulfate pre-buy cash advances; lower capex and working-capital discipline support cash generation.

• Strong domestic granular ammonium sulfate volumes are expected for the 2026–2027 fertilizer year; ammonia sales are expected to increase 25% for FY2026.

• A DEF project final investment decision is expected in Q2 2027; preliminary 2027 capital planning starts at ~$80M, with Project CENTURY spending expected to peak in 2029–2031, subject to approvals and sequencing.