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AdvanSix Now Expects 2024 Capital Expenditures Of $135M-$140M (Prior $140M-$150M)

Benzinga ·  Nov 1, 2024 18:35

Outlook

  • Ammonium sulfate order book sold through 4Q24 amid continued strong sulfur nutrition demand
  • Expect balanced to tight global acetone supply and demand conditions
  • Expect North American nylon industry spreads to modestly improve amid stable end market demand
  • Expect Capital Expenditures to now be $135 to $140 million in 2024, reflecting refined execution timing to address critical enterprise risk mitigation and growth projects including our SUSTAIN (Sustainable U.S. Sulfate to Accelerate Increased Nutrition) program
  • As a result of additional required maintenance and a delayed ramp to full operating rates at our Hopewell site following our planned plant turnaround, we expect an incremental approximately $17 million unfavorable impact to pre-tax income in 4Q24, inclusive of $10 million related to fixed cost absorption and higher maintenance expense, and $7 million of lost sales; no impact on 3Q24 results
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