AdvanSix sees FY23 CapEx $110M-$120M

The company expects favorable underlying agriculture industry fundamentals to continue; Typical North American ammonium sulfate seasonality expected to drive Q3 sequential domestic pricing decline. Expect balanced supply and demand conditions for North American acetone to continue. Expect continued unfavorable supply and demand conditions across nylon and other chemical intermediates due to headwinds in consumer durables and building and construction end markets. Continue to expect pre-tax income impact of planned plant turnarounds to be $25M-$30M in Q3, totaling $28M-$33M in FY23. “We are highly focused on the execution of our upcoming third quarter planned plant turnaround to support safe, stable and sustainable operations at higher utilization rates relative to our industry. While we anticipate the impacts of ammonium sulfate seasonality and soft end market demand overall, we remain well positioned to offer near, medium and long-term value for our shareholders supported by the structural improvements made to the underlying earnings power of this business. We are committed to producing the right chemistries with the right properties to solve our customers’ most exciting opportunities, recently illustrated by the introduction of new 100%post-consumer recycled content nylon,” said Erin Kane, president and CEO of AdvanSix.