Benzinga | Jul 30, 2021 02:40PM EDT

Investors Cheer AdvanSix After Q2 Earnings Beat, Volume Growth

* AdvanSix Inc (NYSE:ASIX) reported second-quarter sales growth of 87.8% year-over-year to $437.68 million, reflecting volume and price improvement, beating the consensus estimate of $408.550 million.

* Sales improvement was driven by 32% higher volume, 31% higher raw material pass-through pricing, and 25% favorable impact of market-based pricing.

* EPS improved to $1.53 from $0.41 in 2Q20, beating consensus estimates of $0.89.

* EBITDA increased by 147.2% Y/Y to $75.95 million, and the margin expanded by 420 bps to 17.4%.

* AdvanSix generated Q2 cash from operating activities of $51.95 million, compared to $8.8 million a year ago. Free cash flow of $41.65 million.

* FY21 Outlook: The company expects Capital Expenditures to be $65 to $70 million (compared to prior expectations of $70 to $80 million), and a pre-tax income impact of $24 to $27 million (compared to prior expectations of $25 to $30 million).

* Price Action: ASIX shares are up 2.69% at $33.63 during the pre-market session on the last check Friday.