Overview
Ascent Industries Q3 gross profit nearly doubles yr/yr, driven by cost management
Company reports Q3 adjusted EBITDA of $1.4 mln, reflecting improved operational performance
Net sales for Q3 declined 5.7% yr/yr due to lower volume, partially offset by higher prices
Outlook
Company did not provide specific guidance for future quarters in its press release
Result Drivers
GROSS PROFIT INCREASE - Co attributes nearly doubled gross profit to disciplined sourcing and product-line management
SALES DECLINE - Net sales fell 5.7% due to lower volumes, partially offset by higher prices
CHEMICALS-AS-A-SERVICE - Co's model delivers durable value despite sluggish demand, per CEO Bryan Kitchen
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales | $19.70 mln | ||
Q3 Adjusted EBITDA | $1.40 mln | ||
Q3 Gross Margin | 29.70% | ||
Q3 Adjusted EBITDA Margin | 7% |
Press Release: ID:nBw1XKc0Pa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)