Ascent Industries Q3 net loss $12.8M; sales down 28% to $56.1M

ASCENT INDUSTRIES CO.

2023-Q3 EPS reported -$3.72 revenue$184,197,000

Diluted loss per share $1.26 vs $0.30 income in Q3 2022; includes $11.4M goodwill impairment in chemicals.
Adjusted EBITDA $0.9M (1.7% margin) vs $8.2M (10.5%) in prior year.
Tubular segment sales $36.1M (-29% YoY); Chemicals sales $20.1M (-26% YoY).
Appointed Bryan Kitchen as president of Ascent Chemicals; repurchased 44,799 shares at avg $8.87.
Total debt reduced to $53.0M from $71.5M at Dec 2022; $41.8M available revolver capacity.

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 0.9

ASCENT INDUSTRIES CO. reported third quarter ended September 30, 2023 results: revenue $56.1 million, net income $(12.8) million, EPS $(1.26) diluted loss per share.

Period: third quarter ended September 30, 2023
Revenue: $56.1 million
Net income: $(12.8) million
EPS: $(1.26) diluted loss per share
Result: reported results

Exact text from the filing

Net sales from continuing operations were $56.1 million compared to $78.2 million in the prior year period.

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Source: SEC EDGAR

accession 0000095953-23-000053

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