ASIX 8-K SEC Filing Analysis

Latest settled — T+20d

ASIX ▲ +5.71% at T+20d

SHORT call ✗ call lost -5.71% · α vs SPY -5.69% · entry $20.32 → $21.48

Next anchor: T+60d in 7w

Currently $22.81 · -12.25% from $20.32 entry (call sign-flipped)

Entry anchored
May 7, 03:59 PM ET
via Databento tick

T+1d

+10.88%

call -10.88% · α -10.64%

$22.53

settled 5w ago

T+5d

+7.33%

call -7.33% · α -5.87%

$21.81

settled 29d ago

T+20d

+5.71%

call -5.71% · α -5.69%

$21.48

settled 5d ago

T+60d

—

call — · α —

—

in 7w

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Executive Summary

AdvanSix reported Q1 2026 results with revenue of $404M (+7% YoY) but a GAAP net loss of -$15.5M and Adjusted EBITDA of $4.8M, down 91% from $51.6M a year ago. The massive profit decline was driven by the absence of $26M in prior-year insurance proceeds, $11M in winter storm impacts, and higher sulfur/natural gas costs. The company also announced a new CFO appointment and a potential DEF market expansion project, but the severe earnings deterioration dominates the narrative.

Key Financial Metrics

Free Cash Flow

-$51.3M

Actionable Insight

The Q1 earnings collapse is severe and structural — driven by input cost inflation and one-time items that will not repeat. Watch for Q2 guidance on the earnings call for signs of the 'meaningful sequential performance improvement' management promised. The DEF expansion project is a long-term positive but years away from contributing. The CFO change adds uncertainty during a critical period.

Key Facts

Q1 2026 revenue $404.2M, up 7% YoY from $377.8M
GAAP diluted EPS of ($0.58) vs $0.86 in Q1 2025
Adjusted diluted EPS of ($0.50) vs $0.93 in Q1 2025
Adjusted EBITDA of $4.8M, down 90.8% from $51.6M in Q1 2025
Adjusted EBITDA margin collapsed to 1.2% from 13.7%
Operating cash flow of negative $15.3M vs positive $11.4M in Q1 2025
Free cash flow of negative $51.3M vs negative $22.6M in Q1 2025
Line of credit drawn to $270M from $215M at year-end 2025
Appointed Patrick Day as SVP and CFO effective April 27, 2026
Evaluating expansion of integrated ammonia platform for DEF market with FID targeted for H1 2027

Financial Impact

Adjusted EBITDA declined by $46.9M YoY to $4.8M; free cash flow worsened by $28.6M to negative $51.3M; line of credit increased by $55M to $270M

epsebitdacashFlowdebt

Risk Factors

Continued margin compression from high sulfur and natural gas costs
Further cash burn requiring additional debt or equity financing
Execution risk on new CFO transition and DEF project
Extended nylon cycle trough could persist longer than expected

Market Snapshot

Exchange

NYSE

Sector

Plastic Materials, Synth Resins & Nonvulcan Elastomers

Analyst Consensus

75% bullish (8 analysts)

Documents Analyzed

This report is based on 6 SEC documents filed with EDGAR.

Document	Accession Number
8-K Filing (Primary)	0001673985-26-000033
Document: asix-20260508.htm	0001673985-26-000033
Document: 0001673985-26-000033-index-headers.html	0001673985-26-000033
Document: 0001673985-26-000033-index.html	0001673985-26-000033
Document: 0001673985-26-000033.txt	0001673985-26-000033
8-K Data (Synthetic)	0001673985-26-000033

2 reports for ASIX

T+1T+5T+20T+60

Filters

Reports for ASIX — sortable, filterable
	Type				Now
May 8, 2026 5w ago	8-K BEARISH ★ 8/10	$20.32 $21.48	▼ −5.71%	▼ −5.69%	$22.81 (−12.25%)
Apr 13, 2026 8w ago	8-K NEUTRAL ★ 4/10	$23.90 $22.53	▼ −5.73%	▼ −13.46%	$22.81 (−4.56%)

US Market Status

Market Closed — Opens Mon (49h 40m)

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