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Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
The company surpassed Zacks Consensus Estimate for earnings in two of the last four quarters and missed twice. It delivered a trailing four-quarter negative earnings surprise of around 914.5% on average. ASIX pulled off an earnings surprise of 29.2% in the last reported quarter.
ASIX stock has gained 3.7% in the past year compared with the Zacks Chemicals Specialty industry’s 2% rise.
Image Source: Zacks Investment Research
Let’s see how things are shaping up for this announcement.
What Do ASIX’s Revenue Estimates Say?
The Zacks Consensus Estimate for sales for the to-be-reported quarter is currently pegged at $357.6 million, which implies a rise of around 10.8% from the year-ago reported number.
The consensus estimate for Nylon sales is pegged at $97.5 million, suggesting a rise of 13.2% year over year. The same for Caprolactam sales is $79 million, indicating an increase of 14.8%.
The Zacks Consensus Estimate for Ammonium Sulfate sales is pinned at $87.2 million, suggesting a year-over-year rise of 3%. The same for Chemical Intermediates sales stands at $103.8 million, indicating an increase of 24.3% year over year.
Factors at Play for ASIX Stock
AdvanSix, which produces nylon 6 resin, chemical intermediates and ammonium sulfate fertilizer, is benefiting from its differentiated product portfolio, exposure to diverse end markets and favorable demand and pricing. It is expected to have gained from improved nylon demand conditions and the growth of its differentiated products in the third quarter.
While the building and construction market is a weak link due to the elevated interest rate environment, nylon demand remains firm in engineered plastics and packaging applications. The favorable agricultural industry fundamentals also bode well for ammonium sulfate.
ASIX saw higher sales for nylon and ammonium sulfate in the second quarter of 2024, supported by favorable supply and demand dynamics in North America. Favorable pricing trends also supported its performance. The company is expected to have benefited from stronger year-over-year ammonium sulfate pricing in the third quarter on solid demand.
AdvanSix, in its second-quarter call, said that it expects North American nylon industry spreads to modestly improve through the year due to tighter regional supply and stable end-market demand. Improving nylon industry spreads and a tight global acetone supply and demand environment support its favorable outlook for the second half of 2024.
Our proven model does not conclusively predict an earnings beat for AdvanSix this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that’s not the case here.
Earnings ESP: Earnings ESP for ASIX is 0.00%. The Zacks Consensus Estimate for earnings for the third quarter is currently pegged at 66 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: ASIX currently carries a Zacks Rank #3.
Basic Materials Stocks That Warrant a Look
Here are some companies in the basic materials space you may want to consider as our model shows they have the right combination of elements to post an earnings beat this quarter:
The consensus estimate for AEM’s earnings for the third quarter is currently pegged at 98 cents.
DuPont de Nemours, Inc. (DD - Free Report) , slated to release earnings on Nov. 5, has an Earnings ESP of +1.00% and carries a Zacks Rank #2 at present.
The consensus mark for DD’s third-quarter earnings is currently pegged at $1.03.
Kinross Gold Corporation (KGC - Free Report) , scheduled to release third-quarter earnings on Nov. 5, has an Earnings ESP of +12.29%.
The Zacks Consensus Estimate for Kinross Gold's earnings for the third quarter is currently pegged at 17 cents. KGC currently carries a Zacks Rank #1.
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AdvanSix to Report Q3 Earnings: What's in the Cards for the Stock?
AdvanSix Inc. (ASIX - Free Report) is scheduled to release third-quarter 2024 results before the opening bell on Nov. 1.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
The company surpassed Zacks Consensus Estimate for earnings in two of the last four quarters and missed twice. It delivered a trailing four-quarter negative earnings surprise of around 914.5% on average. ASIX pulled off an earnings surprise of 29.2% in the last reported quarter.
ASIX stock has gained 3.7% in the past year compared with the Zacks Chemicals Specialty industry’s 2% rise.
Image Source: Zacks Investment Research
Let’s see how things are shaping up for this announcement.
What Do ASIX’s Revenue Estimates Say?
The Zacks Consensus Estimate for sales for the to-be-reported quarter is currently pegged at $357.6 million, which implies a rise of around 10.8% from the year-ago reported number.
The consensus estimate for Nylon sales is pegged at $97.5 million, suggesting a rise of 13.2% year over year. The same for Caprolactam sales is $79 million, indicating an increase of 14.8%.
The Zacks Consensus Estimate for Ammonium Sulfate sales is pinned at $87.2 million, suggesting a year-over-year rise of 3%. The same for Chemical Intermediates sales stands at $103.8 million, indicating an increase of 24.3% year over year.
Factors at Play for ASIX Stock
AdvanSix, which produces nylon 6 resin, chemical intermediates and ammonium sulfate fertilizer, is benefiting from its differentiated product portfolio, exposure to diverse end markets and favorable demand and pricing. It is expected to have gained from improved nylon demand conditions and the growth of its differentiated products in the third quarter.
While the building and construction market is a weak link due to the elevated interest rate environment, nylon demand remains firm in engineered plastics and packaging applications. The favorable agricultural industry fundamentals also bode well for ammonium sulfate.
ASIX saw higher sales for nylon and ammonium sulfate in the second quarter of 2024, supported by favorable supply and demand dynamics in North America. Favorable pricing trends also supported its performance. The company is expected to have benefited from stronger year-over-year ammonium sulfate pricing in the third quarter on solid demand.
AdvanSix, in its second-quarter call, said that it expects North American nylon industry spreads to modestly improve through the year due to tighter regional supply and stable end-market demand. Improving nylon industry spreads and a tight global acetone supply and demand environment support its favorable outlook for the second half of 2024.
AdvanSix Price and EPS Surprise
AdvanSix price-eps-surprise | AdvanSix Quote
What Our Model Unveils for ASIX Stock
Our proven model does not conclusively predict an earnings beat for AdvanSix this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that’s not the case here.
Earnings ESP: Earnings ESP for ASIX is 0.00%. The Zacks Consensus Estimate for earnings for the third quarter is currently pegged at 66 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: ASIX currently carries a Zacks Rank #3.
Basic Materials Stocks That Warrant a Look
Here are some companies in the basic materials space you may want to consider as our model shows they have the right combination of elements to post an earnings beat this quarter:
Agnico Eagle Mines Limited (AEM - Free Report) , scheduled to release earnings on Oct. 30, has an Earnings ESP of +5.82% and carries a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for AEM’s earnings for the third quarter is currently pegged at 98 cents.
DuPont de Nemours, Inc. (DD - Free Report) , slated to release earnings on Nov. 5, has an Earnings ESP of +1.00% and carries a Zacks Rank #2 at present.
The consensus mark for DD’s third-quarter earnings is currently pegged at $1.03.
Kinross Gold Corporation (KGC - Free Report) , scheduled to release third-quarter earnings on Nov. 5, has an Earnings ESP of +12.29%.
The Zacks Consensus Estimate for Kinross Gold's earnings for the third quarter is currently pegged at 17 cents. KGC currently carries a Zacks Rank #1.