AdvanSix Inc.'s (NYSE: ASIX) shares have appreciated 27.3% in the past three months. The company also outperformed the industry's rise of 2.2% and topped the S&P 500's 5.2% increase over the same period.
Image Source: Zacks Investment Research
Let's take a look at the factors driving the stock's price appreciation.
What's Driving AdvanSix?
AdvanSix posted strong second-quarter results that exceeded expectations. The company recorded adjusted earnings of $1.55 per share, outperforming the Zacks Consensus Estimate of $1.20. Revenues in the quarter reached $453.5 million, increasing 6% year over year and beating the consensus estimate of $427 million. The upside was driven by a 5% rise in sales volume, primarily attributed to higher sales for nylon and ammonium sulfate, supported by favorable supply and demand dynamics in North America. Favorable pricing trends, particularly for acetone, further bolstered results.
Adjusted EBITDA also rose 19% year over year to $78.1 ...
