Ascent Q2 net loss narrows to $0.2M from $6.1M; adj EBITDA positive $2.1M

ASCENT INDUSTRIES CO.

2024-Q2 EPS reported -$0.63 vs consensus -$0.22 ▼ miss (-180.7%)

Net sales $50.2M, down 0.3% YoY; gross profit $5.9M vs $(0.8)M; gross margin 11.7% vs (1.5)%.
Diluted EPS $(0.02) vs $(0.60); adjusted EBITDA $2.1M vs $(4.8)M, margin 4.2% vs (9.4)%.
Chemicals segment adj EBITDA $1.7M (7.9% of sales) vs $0.3M (1.5%); Tubular adj EBITDA $1.7M vs $(2.5)M.
No debt outstanding; $62.7M revolver availability; repurchased 15,233 shares at avg $10.25/ share.
CEO cites stabilization and self-help initiatives driving improvement despite soft market conditions.

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