Ascent Q3 revenue up 16% to $100.2M; net income drops 92% to $0.6M ($0.06 EPS)

ASCENT INDUSTRIES CO.

2022-Q3 EPS reported $2.11 revenue$332,587,000

Net sales $100.2M (+16% YoY) but gross profit margin fell to 11.5% from 20.9% on higher input/labor costs.
Adjusted EBITDA $5.6M (5.6% margin) vs $14.8M (17.2%) in Q3 2021; tubular segment operating income halved to $4.5M.
Chemicals segment net sales rose 70% to $27.3M; Adjusted EBITDA up 55% to $2.7M (10.0% margin).
Total debt $72.6M; available borrowing capacity $36.7M; repurchased 30,200 shares at avg $16.29 during quarter.
Management cites pricing pressure, import competition, and destocking headwinds; plans focus on higher-margin mix.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ASCENT INDUSTRIES CO. reported the third quarter ended September 30, 2022 results: revenue $100.2 million, net income $0.6 million, EPS $0.06 diluted earnings per share.

Period: the third quarter ended September 30, 2022
Revenue: $100.2 million
Net income: $0.6 million
EPS: $0.06 diluted earnings per share
Result: reported results

Exact text from the filing

our strategy, further unlocking value across our platform and driving long-term results for our shareholders.” 1 Third Quarter 2022 Financial Results Net sales increased 16% to $100.2 million compared to $86.2 million in the prior year period, attributable to favorable tubular pricing early in the quarter, as well as the ongoing shift to higher priced products. Gross

View on SEC.gov

Browse all earnings releases →

ASCENT INDUSTRIES CO. filing history →

Source: SEC EDGAR

accession 0000095953-22-000083

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.