AdvanSix: Q1 Earnings Snapshot
PARSIPPANY, N.J. (AP) — PARSIPPANY, N.J. (AP) — AdvanSix Inc. (ASIX) on Friday reported first-quarter profit of $35 million.
On a per-share basis, the Parsippany, New Jersey-based company said it had net income of $1.22. Earnings, adjusted for stock option expense and amortization costs, came to $1.30 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.02 per share.
The polymer resins producer posted revenue of $400.5 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $411.2 million.
AdvanSix shares have dropped nearly 8% since the beginning of the year. The stock has decreased 27% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ASIX at https://www.zacks.com/ap/ASIX
