Ascent Industries Q4 net loss $7.5M; full year loss $34.2M; debt eliminated

ASCENT INDUSTRIES CO.

Q4 net sales $41.2M (-23.9% YoY); net loss $7.5M ($0.73 diluted loss per share).
Full year net loss $34.2M ($3.37 diluted loss per share); adjusted EBITDA -$15.9M.
Sold Specialty Pipe & Tube assets for $55M cash; proceeds cleared all outstanding debt.
As of Dec 31, 2023, no debt and $61.8M available under revolving credit facility.
Repurchased 143,108 shares at avg $8.97 for ~$1.3M during 2023.

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 0.85

ASCENT INDUSTRIES CO. reported financial results for fourth quarter and full year ended December 31, 2023.

Period: fourth quarter and full year ended December 31, 2023
Result: reported results

Exact text from the filing

On March 28, 2024, Ascent Industries Co. ("the Company") issued a press release announcing financial information for its fourth quarter and fiscal year ended December 31, 2023. The press release is attached as Exhibit 99.1 to this Form 8-K and is furnished to, but not filed with, the Commission.

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708 earnings releases filed in the last 30 days. Browse all earnings releases →

ASCENT INDUSTRIES CO. filing history →

Source: SEC EDGAR

accession 0000095953-24-000016

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