Latest news with #AscentIndustriesCo
Yahoo
13-05-2025
- Business
- Yahoo
Ascent Industries Co (ACNT) Q1 2025 Earnings Call Highlights: Strategic Shifts Drive ...
Net Sales: $24.7 million, down from $28 million in Q1 2024. Adjusted EBITDA: Improved from a loss of $2.7 million to a positive $843,000. Tubular Segment Revenue: $6.9 million, with gross margin increasing from 12.3% to 24.8%. Tubular Segment Adjusted EBITDA: Increased nearly 5x to $1.3 million. Specialty Chemicals Revenue: $17.8 million, with gross margin expanding from 7.6% to 21%. Specialty Chemicals Gross Profit: Increased by $2.1 million to $3.7 million. Specialty Chemicals Adjusted EBITDA: Improved by $2.3 million to $2 million. Gross Profit: Nearly doubled to $4.8 million, or 19.3% of sales. SG&A Expenses: Declined to $5.6 million, representing 22.5% of sales. Cash Position: $14.3 million in cash and no debt before the Bristol sale. Share Repurchase: Approximately 17,000 shares at an average price of $12.73. Warning! GuruFocus has detected 5 Warning Signs with ACNT. Release Date: May 12, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Ascent Industries Co (NASDAQ:ACNT) achieved a significant turnaround in adjusted EBITDA, improving from a loss of $2.7 million in Q1 2024 to a positive $843,000 in Q1 2025. The Tubular segment showed strong performance with gross margin increasing from 12.3% to 24.8% and adjusted EBITDA rising nearly fivefold to $1.3 million. The Specialty Chemicals segment saw a 131% improvement in gross profit, with gross margin expanding from 7.6% to 21%. The company has strategically shifted its focus to higher-margin opportunities, resulting in a more profitable commercial base. Ascent Industries Co (NASDAQ:ACNT) ended the quarter with $14.3 million in cash and no debt, providing significant financial flexibility. Net sales from continuing operations decreased from $28 million in Q1 2024 to $24.7 million in Q1 2025, reflecting broader market softness. Revenue from continuing operations declined by 11.5% year-over-year, which was anticipated due to strategic repositioning. The demand environment remains challenging, particularly in the ornamental stainless domestic manufacturing sector. The company is not yet providing forward-looking guidance due to ongoing stabilization activities and market uncertainties. Despite improvements, the company still faces a tough demand environment, particularly in the Specialty Chemicals segment. Q: Is the ornamental stainless domestic manufacturer a more attractive target now compared to six months ago? A: J. Bryan Kitchen, CEO: The demand has remained incredibly soft, and while there are some additional looks due to tariffs, the market conditions are still relatively soft. We are always evaluating options to monetize the value of our assets. Q: Can we expect guidance for the Chemicals segment given its current profitability? A: J. Bryan Kitchen, CEO: It's too early to provide guidance for 2025 as we are still stabilizing. Ryan Kavalauskas, CFO, added that until the business stabilizes further, they will withhold forward-looking guidance. Q: Is the goal to grow the Chemicals segment from $80 million to $120 million by 2030 with the existing asset base? A: Ryan Kavalauskas, CFO: Yes, growth is expected to start in the second half of the year, with a stronger top line anticipated in 2026. The team has developed a strong selling project pipeline. Q: Can the shift in product mix to a 65-35 split between custom manufacturing and branded product sales be achieved with existing capacity? A: Ryan Kavalauskas, CFO: Yes, the current asset utilization is low, and the company has ample runway for organic growth with minimal capital expenditure. Q: Was the stock buyback limited due to the Bristol transaction, and do you believe the stock is undervalued? A: J. Bryan Kitchen, CEO: The buyback was executed within the existing program's confines. With the Bristol sale, optionality has increased. Personally, I believe the stock is undervalued. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Business Wire
02-05-2025
- Business
- Business Wire
Ascent Industries Sets First Quarter 2025 Earnings Conference Call for May 12, 2025, at 5:00 p.m. ET
SCHAUMBURG, Ill.--(BUSINESS WIRE)--Ascent Industries Co. (Nasdaq: ACNT) ('Ascent' or the 'Company'), an industrial company focused on the production of specialty chemicals and industrial tubular products, will hold a conference call on Monday, May 12, 2025, at 5:00 p.m. Eastern time to discuss its financial results for the first quarter ended March 31, 2025. The results will be reported in a press release prior to the conference call. Ascent management will host the conference call, followed by a question and answer period. Date: Monday, May 12, 2025 Time: 5:00 p.m. Eastern time Live Call Registration Link: Here Webcast Registration Link: Here To access the call by phone, please register via the live call registration link above or here and you will be provided with dial-in instructions and details. If you have any difficulty connecting with the conference call, please contact Gateway Group at 1-949-574-3860. The conference call will also be broadcast live and available for replay via the webcast registration link above or here. The webcast will be archived for one year in the investor relations section of the Company's website at About Ascent Industries Co. Ascent Industries Co. (Nasdaq: ACNT) is a company that engages in a number of diverse business activities including the production of specialty chemicals and industrial tubular products. For more information about Ascent, please visit its website at
Business Wire
21-04-2025
- Business
- Business Wire
Ascent Industries Announces Upcoming Investor Conference Schedule
SCHAUMBURG, Ill.--(BUSINESS WIRE)--Ascent Industries Co. (Nasdaq: ACNT) ('Ascent' or the 'Company'), an industrial company focused on the production of specialty chemicals and industrial tubular products, will participate in several upcoming investor conferences to discuss the Company's achievements regarding its stabilization and optimization initiatives as well as its recent divestiture within its tubular products segment. The following are the Company's currently scheduled investor marketing events through May 2025: Planet MicroCap Showcase Format: Presentation and one-on-one/group meetings Presentation Date and Time: Wednesday, April 23 at 4:30 pm PT Webcast Oppenheimer 20 th Annual Industrial Growth Conference When: May 5-8, 2025 Format: Presentation and one-on-one/group meetings Presentation Date and Time: Monday, May 5 at 10:30 am ET Webcast 'Following a year of stabilizing our foundation and delivering healthy earnings growth, we are positioned for growth and believe the Ascent story is beginning to resonate with a broader investor audience,' said Ascent President and CEO Bryan Kitchen. 'Over the coming weeks, we look forward to meeting with the investor community to review our recent divestiture within our tubular products segment and discuss our go-forward focus on maintaining operational discipline while driving profitable growth through our specialty chemicals segment.' For more information or to schedule a meeting, please contact the Company's investor relations team at ACNT@ About Ascent Industries Co. Ascent Industries Co. (Nasdaq: ACNT) is a company that engages in a number of diverse business activities including the production of specialty chemicals and industrial tubular products. For more information about Ascent, please visit its website at Forward-Looking Statements This press release may include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and other applicable federal securities laws. All statements that are not historical facts are forward-looking statements. Forward looking statements can be identified through the use of words such as "estimate," "project," "intend," "expect," "believe," "should," "anticipate," "hope," "optimistic," "plan," "outlook," "should," "could," "may" and similar expressions. The forward-looking statements are subject to certain risks and uncertainties which could cause actual results to differ materially from historical results or those anticipated. Readers are cautioned not to place undue reliance on these forward-looking statements and to review the risks as set forth in more detail in Ascent Industries Co.'s Securities and Exchange Commission filings, including our Annual Report on Form 10-K, which filings are available from the SEC or on our website. Ascent Industries Co. assumes no obligation to update any forward-looking information included in this release.
Yahoo
17-04-2025
- Business
- Yahoo
Ascent Industries Co. Announces Multi-Year Specialty Chemicals Contract, Driving Significant EBITDA Growth
SCHAUMBURG, Ill., April 17, 2025--(BUSINESS WIRE)--Ascent Industries Co. (Nasdaq: ACNT) ("Ascent" or the "Company"), an industrials company specializing in the production and distribution of specialty chemicals and industrial tubular products, today announced the signing of a significant multi-year contract, expanding its relationship with an existing customer. The agreement is expected to generate more than $750,000 in additional annual EBITDA, representing a 10% year-over-year increase for the Specialty Chemicals segment. "This contract marks a significant milestone in our ongoing transformation and underscores our strategic shift toward becoming a pure-play specialty chemicals company," said Bryan Kitchen, President and CEO of Ascent. "Securing long-term, high-value agreements like this strengthens our financial position and validates the growth platform we established in 2024. As we accelerate into growth mode, we remain focused on delivering sustainable, long-term value to our shareholders." About Ascent Industries Co. Ascent Industries Co. (Nasdaq: ACNT) is a company that engages in a number of diverse business activities including the production of specialty chemicals and industrial tubular products. For more information about Ascent, please visit its website at Forward-Looking Statements This press release may include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and other applicable federal securities laws. All statements that are not historical facts are forward-looking statements. Forward looking statements can be identified through the use of words such as "estimate," "project," "intend," "expect," "believe," "should," "anticipate," "hope," "optimistic," "plan," "outlook," "should," "could," "may" and similar expressions. The forward-looking statements are subject to certain risks and uncertainties which could cause actual results to differ materially from historical results or those anticipated. Readers are cautioned not to place undue reliance on these forward-looking statements and to review the risks as set forth in more detail in Ascent Industries Co.'s Securities and Exchange Commission filings, including our Annual Report on Form 10-K, which filings are available from the SEC or on our website. Ascent Industries Co. assumes no obligation to update any forward-looking information included in this release. View source version on Contacts Company Contact Ryan KavalauskasChief Financial Officer1-630-884-9181 Investor Relations Ralf EsperGateway Group, Inc.1-949-574-3860ACNT@
Yahoo
05-03-2025
- Business
- Yahoo
Ascent Industries Co (ACNT) Q4 2024 Earnings Call Highlights: A Turnaround in Profitability ...
Net Sales (Q4 2024): $40.7 million, compared to $41.2 million in Q4 2023. Gross Profit (Q4 2024): $7.3 million or 17.9% of net sales, up from a $2.1 million loss or negative 5.2% of net sales in Q4 2023. Net Income (Q4 2024): $0.1 million or $0.01 diluted EPS, compared to a net loss of $7.5 million or $0.73 diluted loss per share in Q4 2023. Adjusted EBITDA (Q4 2024): $2.6 million, compared to negative $5.9 million in Q4 2023. Net Sales (Full Year 2024): $177.9 million, compared to $193.2 million in 2023. Gross Profit (Full Year 2024): $22.1 million or 12.4% of net sales, compared to $1.5 million or 0.8% of net sales in 2023. Net Loss (Full Year 2024): $11.2 million or $1.11 diluted loss per share, compared to a net loss of $34.2 million or $3.37 diluted loss per share in 2023. Adjusted EBITDA (Full Year 2024): $4 million, compared to negative $15.9 million in 2023. Cash Position (End of 2024): $16 million in cash, with $47.4 million available on the revolving credit facility. Share Repurchase (2024): 101,263 shares repurchased for approximately $1 million. Warning! GuruFocus has detected 5 Warning Signs with ACNT. Release Date: March 04, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Ascent Industries Co (NASDAQ:ACNT) reported four consecutive quarters of EBITDA improvement, achieving a 125% year-over-year increase in adjusted EBITDA. The company generated nearly $15 million in free cash flow throughout the year and remained debt-free, strengthening its balance sheet. Gross profit from continuing operations increased significantly by 1,349% year-over-year, driven by cost management and product line optimization. The company has a strong liquidity position with over $16 million in cash and more than $47 million available on its revolving credit facility. Ascent Industries Co (NASDAQ:ACNT) launched a new branded product portfolio for the HI&I market, targeting a $2.5 billion market with environmentally friendly cleaning technologies. Net sales from continuing operations decreased to $177.9 million from $193.2 million in 2023, reflecting soft demand dynamics and product line modifications. Despite improvements, the company experienced a net loss from continuing operations of $11.2 million for the year. The company faced persistent market headwinds and foundational challenges with its existing book of business and core capabilities. There is uncertainty regarding the timing of top-line growth, with expectations for improvement more likely in the second half of 2025. The share repurchase program's feasibility is questioned, given historical buyback rates and the ambitious target of acquiring up to 1 million shares over two years. Q: With the strengthening balance sheet and new product development, when do you expect top-line growth to start? A: (J. Bryan Kitchen, CEO) We see top-line growth as more of a second-half opportunity in 2025. The markets haven't fully recovered yet, and any growth in the first half will likely be due to gaining market share rather than market conditions improving. Q: What contributed to the significant cash growth from Q3 to Q4? A: (Ryan Kavalauskas, CFO) The largest driver was optimizing idle and stagnant inventory. Additionally, improved collections, inventory management, and payables management helped improve our cash conversion cycle, pulling almost two weeks of cash back into the year. Q: Can you provide updates on the underutilized assets, specifically the Cleveland, Tennessee plant and Munhall site? A: (J. Bryan Kitchen, CEO) We brokered the sale of a smaller warehouse in Tennessee. We have an active sublease with Palmer, and we are actively working to find a permanent solution for the Munhall site. Q: How is the new ingredient cleaning portfolio being received in the market? A: (J. Bryan Kitchen, CEO) The reception has been positive. We launched the portfolio at a cleaning conference in Florida, and although many potential customers were not initially aware of us, the team left with several new opportunities that we are actively pursuing. Q: Is there potential for further margin improvement in the Specialty Chemicals segment? A: (J. Bryan Kitchen, CEO) Yes, there is potential for ongoing margin improvement as we increase sales of our branded product portfolio. We achieved targeted price increases last year, and while we don't anticipate much more in 2025, we'll monitor the raw material market closely. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
