AdvanSix sees FY23 CapEx about $115M

For FY23: Expect nylon industry margins to remain at prior trough levels through year-end due to unfavorable supply and demand conditions; Anticipate continued higher Nylon Solutions exports in near-term. Expect favorable underlying agriculture industry fundamentals to continue. Expect balanced supply and demand conditions for North American acetone to continue. Capital Expenditures tracking to approximately $115M for the full year 2023, reflecting increased spend due to critical infrastructure, other maintenance, and growth and cost savings projects. “To drive long-term, sustainable performance, we are focusing our resources and efforts around higher value components of our portfolio. Simplification reduces complexity to ensure our investments and resources are aligned with supporting our customers’ success in areas of highest impact. Of note, we are accelerating profitable growth through our SUSTAIN program’s planned expansion in granular ammonium sulfate production. We’re committed to driving best possible outcomes in the current set of industry dynamics and executing levers in our control, including remaining disciplined on cost and optimizing working capital to create shareholder value,” concluded CEO Kane.