Latest news with #BryanKitchen
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
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@
Los Angeles Times
21-03-2025
- Business
- Los Angeles Times
Long Beach Company Acquires Metals Distributor for $45 Million
Ta Chen International Inc., a Taiwanese company with U.S. operations headquartered in Long Beach, acquired the assets of Bristol Metals LLC from parent firm Ascent Industries Co. for $45 million in an all-cash transaction. The subsidiary manufactures and distributes stainless and aluminum coils, sheets, tubs and other products. The deal is expected to close by the end of the first quarter. 'This transaction provides Ascent with additional capital to pursue growth opportunities within the specialty chemicals segment,' said Bryan Kitchen, chief executive of Ascent, in a statement. Angle Advisors acted as financial advisor, and Amundsen Davis acted as legal advisor to Ascent. Information for this article was sourced from Ascent.
Yahoo
27-01-2025
- Business
- Yahoo
Innovating Clean, Simplifying Care: Ascent Industries Launches New HI&I Ingredients Portfolio
SCHAUMBURG, Ill., January 27, 2025--(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, announced today the launch of its Household, Industrial, and Institutional (HI&I) Cleaning Ingredients Portfolio. The comprehensive range of engineered solutions delivers exceptional cleaning performance while prioritizing sustainability, reflecting Ascent's commitment to "Innovating Clean, Simplifying Care." Ascent Industries will showcase its HI&I Ingredients Portfolio this week at the American Cleaning Institute (ACI) Conference in Orlando, Florida, January 27–31, 2025. The new portfolio includes bio-based surfactants and specialty additives that address the industry's growing demand for effective and environmentally friendly cleaning technologies. Built to meet the evolving needs of modern cleaning applications, the HI&I portfolio combines superior performance with cost-competitiveness and compliance with strict environmental and regulatory standards. "The development and launch of our HI&I portfolio is a major milestone in our efforts to develop high-performing, sustainable solutions," said Bryan Kitchen, CEO of Ascent Industries. "It's all about solving real-world problems with precision while advancing the future of clean, safe, and sustainable care." In addition to superior cleaning efficacy, the portfolio incorporates features like plant and tallow-based ingredients, reduced VOC content, and multifunctional additives designed to streamline formulations and improve product efficiency. For more details on Ascent Industries' HI&I Ingredients Portfolio, visit this link. 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 View source version on Contacts Company Contact Ryan KavalauskasChief Financial Officer1-630-884-9181 Investor Relations Cody Slach and Cody CreeGateway Group, Inc.1-949-574-3860ACNT@ Sign in to access your portfolio
