Ascent Industries Reports Fourth Quarter and Full Year 2023 Results
Ascent Industries Reports Fourth Quarter and Full Year 2023 Results
Ascent Industries Reports Fourth Quarter and Full Year 2023 Results
Ascent Industries公佈2023年第四季度和全年業績
March 28, 2024 4:05pm EDT Download as PDF
美國東部時間 2024 年 3 月 28 日下午 4:05 以 PDF 格式下載
Eliminated All Outstanding Debt with Cash Proceeds from the Sale of Specialty Pipe & Tube
使用出售特種管道和管材的現金收益免除所有未償債務
New Leadership Focused on Accelerating Profitable Growth and Maximizing Value
新領導層專注於加速盈利增長和實現價值最大化
OAK BROOK, Ill.--(BUSINESS WIRE)-- Ascent Industries Co. (Nasdaq: ACNT) ("Ascent" or the "Company"), an industrials company focused on the production of specialty chemicals and industrial tubular products, is reporting its results for the fourth quarter and full year ended December 31, 2023.
伊利諾伊州奧克布魯克--（美國商業資訊）--Ascent Industries Co.納斯達克股票代碼：ACNT）（“Ascent” 或 “公司”）是一家專注於生產特種化學品和工業管狀產品的工業公司，正在公佈截至2023年12月31日的第四季度和全年業績。
| Fourth Quarter 2023 Summary1 | |||
| (in millions, except per share and margin) | Q4 2023 | Q4 2022 | Change |
| Net Sales | $41.2 | $54.2 | (23.9)% |
| Gross Profit | $(2.1) | $4.9 | (143.9)% |
| Gross Profit Margin | (5.2)% | 9.0% | (1,420)bps |
| Net (Loss) Income | $(7.5) | $4.5 | (267.4)% |
| Diluted (Loss) Earnings per Share | $(0.73) | $0.43 | (269.8)% |
| Adjusted EBITDA | $(5.9) | $1.7 | (460.5)% |
| Adjusted EBITDA Margin | (14.4)% | 3.0% | (1,740)bps |
| 2023 年第四季度摘要1 | |||
| （以百萬計，每股和利潤率除外） | 2023 年第四季度 | 2022 年第四季度 | 改變 |
| 淨銷售額 | 41.2 美元 | 54.2 美元 | (23.9)% |
| 毛利潤 | 美元 (2.1) | 4.9 美元 | (143.9)% |
| 毛利率 | (5.2)% | 9.0% | (1,420) 個點子 |
| 淨（虧損）收入 | 美元 (7.5) | 4.5 美元 | (267.4)% |
| 攤薄（虧損）每股收益 | 美元 (0.73) | 0.43 美元 | (269.8)% |
| 調整後的息稅折舊攤銷前 | 美元 (5.9) | 1.7 美元 | (460.5)% |
| 調整後息折舊攤銷前利潤率 | (14.4)% | 3.0% | (1,740) 個點子 |
| Full Year 2023 Summary1 | |||
| (in millions, except per share and margin) | 2023 | 2022 | Change |
| Net Sales | $193.2 | $262.0 | (26.3)% |
| Gross Profit | $1.5 | $43.3 | (96.5)% |
| Gross Profit Margin | 0.8% | 16.5% | (1,570)bps |
| Net (Loss) Income | $(34.2) | $17.6 | (294.3)% |
| Diluted (Loss) Earnings per share | $(3.37) | $1.69 | (299.4)% |
| Adjusted EBITDA | $(15.9) | $25.6 | (162.3)% |
| Adjusted EBITDA Margin | (8.2)% | 9.8% | (1,800)bps |
| 2023 年全年摘要1 | |||
| （以百萬計，每股和利潤率除外） | 2023 | 2022 | 改變 |
| 淨銷售額 | 193.2 美元 | 262.0 美元 | (26.3)% |
| 毛利潤 | 1.5 美元 | 43.3 美元 | (96.5)% |
| 毛利率 | 0.8% | 16.5% | (1,570) 個點子 |
| 淨（虧損）收入 | 美元 (34.2) | 17.6 美元 | (294.3)% |
| 攤薄（虧損）每股收益 | 美元 (3.37) | 1.69 美元 | (299.4)% |
| 調整後的息稅折舊攤銷前 | 美元 (15.9) | 25.6 美元 | (162.3)% |
| 調整後息折舊攤銷前利潤率 | (8.2)% | 9.8% | (1,800) 個點子 |
| ____________________________ | ||
| 1 | On June 2, 2023, the Board of Directors of Ascent made the decision to permanently cease operations at the Company's welded pipe and tube facility located in Munhall, PA ("Munhall") effective on August 31, 2023. On December 22, 2023, the Company closed on a transaction to sell substantially all of the assets of Specialty Pipe & Tube ("SPT"). As a result, financial results from Munhall & SPT have been categorized into discontinued operations. | |
| ______________________ | ||
| 1 | 2023年6月2日，Ascent董事會決定永久停止該公司位於賓夕法尼亞州蒙霍爾的焊接管道和管道工廠（“Munhall”）的運營，自2023年8月31日起生效。2023年12月22日，該公司完成了一項出售特種管道（“SPT”）幾乎所有資產的交易。因此，Munhall & SPT的財務業績被歸類爲已終止的業務。 | |
Management Commentary
管理層評論
"The Ascent team made notable progress towards our long-term strategic goals in 2023, despite continued market headwinds," said Ascent CEO Bryan Kitchen. "This progress was driven by meaningful initiatives to onboard new customers and unlock operational efficiencies that we expect to bear fruit next year. However, our momentum in the fourth quarter was not sufficient to fully mitigate the adverse effects of industry-wide destocking trends that impacted both business segments. Prior to year-end, Ascent closed on a sale of substantially all of the assets of Specialty Pipe and Tube, generating $55 million in an all-cash transaction. These proceeds were utilized to clear remaining debt, positioning the Company favorably as it entered 2024.
Ascent首席執行官布萊恩·基奇表示：“儘管市場持續面臨阻力，但Ascent團隊在2023年實現長期戰略目標方面取得了顯著進展。”“這一進展是由有意義的舉措推動的，這些舉措旨在吸引新客戶並提高運營效率，我們預計這些舉措將在明年取得成果。但是，我們在第四季度的勢頭不足以完全緩解影響這兩個業務領域的全行業去庫存趨勢的不利影響。年底之前，Ascent完成了對特種管道和管材幾乎所有資產的出售，產生了5500萬美元的全現金交易。這些收益用於清償剩餘債務，使公司在進入2024年時處於有利地位。
"We moved into 2024 with a healthy financial position and a commitment to driving sustainable earnings-growth across the enterprise. This commitment is underscored by purposeful initiatives to recapitalize talent and capabilities, aimed to maximize the value derived from the unique strengths within our tubular segment while simultaneously investing in the growth potential of the specialty chemicals segment. We believe our newly-assembled management team has already begun to make progress towards our long-term goals focused on creating durable shareholder value."
“我們進入2024年，財務狀況良好，致力於推動整個企業的可持續收益增長。對人才和能力進行資本重組的有針對性的舉措突顯了這一承諾，這些舉措旨在最大限度地發揮管狀細分市場的獨特優勢所產生的價值，同時投資於特種化學品板塊的增長潛力。我們相信，我們新組建的管理團隊已經開始在實現以創造持久股東價值爲重點的長期目標方面取得進展。”
Fourth Quarter 2023 Financial Results
2023 年第四季度財務業績
Net sales from continuing operations were $41.2 million compared to $54.2 million in the prior year period, primarily attributable to decreased end-market demand and de-stocking trends across both segments.
持續經營業務的淨銷售額爲4,120萬美元，而去年同期爲5,420萬美元，這主要歸因於終端市場需求下降以及兩個細分市場的庫存減少趨勢。
Gross profit from continuing operations was $(2.1) million, or (5.2%) of net sales, compared to $4.9 million, or 9.0% of net sales, in the fourth quarter of 2022. The decrease was primarily attributable to elevated costs and unfavorable product mix.
持續經營業務的毛利爲210萬美元，佔淨銷售額的5.2％，而2022年第四季度爲490萬美元，佔淨銷售額的9.0％。下降的主要原因是成本上漲和不利的產品組合。
Net loss from continuing operations was $7.5 million, or $(0.73) diluted loss per share, compared to net income from continuing operations of $4.5 million, or $0.43 diluted earnings per share, in the fourth quarter of 2022. The decrease was primarily attributable to the aforementioned lower net sales, along with an increase in administrative expenses.
持續經營業務淨虧損爲750萬美元，攤薄後每股虧損爲0.73美元，而2022年第四季度持續經營業務淨收益爲450萬美元，攤薄後每股收益爲0.43美元。下降的主要原因是上述淨銷售額下降以及管理費用增加。
Adjusted EBITDA was $(5.9) million compared to $1.7 million in the fourth quarter of 2022. Adjusted EBITDA margin was (14.4)% compared to 3.0% in the prior year period. The decrease was primarily attributable to the aforementioned lower net sales.
調整後的息稅折舊攤銷前利潤爲590萬美元，而2022年第四季度爲170萬美元。調整後的息稅折舊攤銷前利潤率爲（14.4％），而去年同期爲3.0％。下降的主要原因是上述淨銷售額下降。
Full Year 2023 Financial Results
2023 年全年財務業績
Net sales from continuing operations were $193.2 million compared to $262.0 million in 2022. The decrease was primarily attributable to decreases in volume throughout the year as a result of industry-wide de-stocking trends and challenging end market fundamentals.
持續經營業務的淨銷售額爲1.932億美元，而2022年爲2.620億美元。下降的主要原因是全行業的去庫存趨勢和終端市場基本面面臨的挑戰，導致全年銷量下降。
Gross profit from continuing operations was $1.5 million, or 0.8% of net sales, compared to $43.3 million or 16.5% of net sales in 2022. The decrease was primary attributable to the aforementioned decline in net sales across both segments, along with unfavorable product mix over the prior year.
持續經營業務的毛利爲150萬美元，佔淨銷售額的0.8％，而2022年爲4,330萬美元，佔淨銷售額的16.5％。下降的主要原因是上述兩個細分市場的淨銷售額下降，以及與去年相比不利的產品組合。
Net loss from continuing operations was $34.2 million, or $(3.37) diluted loss per share, compared to $17.6 million, or $1.69 diluted earnings per share in 2022. The decrease was primarily attributable to the aforementioned decline in net sales and gross margin.
持續經營業務淨虧損爲3,420萬美元，攤薄後每股虧損3.37美元，而2022年爲1,760萬美元，攤薄後每股收益爲1.69美元。下降的主要原因是上述淨銷售額和毛利率的下降。
Adjusted EBITDA was $(15.9) million compared to $25.6 million in 2022. Adjusted EBITDA as a percentage of net sales was (8.2)% compared to 9.8% in the prior year. The decline is primarily attributable to lower operating margins across both segments compared to the prior year.
調整後的息稅折舊攤銷前利潤爲1,590萬美元，而2022年爲2560萬美元。調整後的息稅折舊攤銷前利潤佔淨銷售額的百分比爲（8.2％），而去年同期爲9.8％。下降的主要原因是這兩個細分市場的營業利潤率與去年相比均有所下降。
Segment Results
分部業績
Ascent Chemicals – net sales in the fourth quarter of 2023 were $18.5 million compared to $23.5 million in the fourth quarter of 2022. Operating loss in the fourth quarter was $1.6 million compared to operating income of $0.9 million in the prior year period. Adjusted EBITDA in the fourth quarter was $(0.4) million compared to $2.0 million in the prior year period. As a percentage of segment net sales, adjusted EBITDA was (2.3)% compared to 8.6% in the fourth quarter of 2022.
艾森特化學品 — 2023年第四季度的淨銷售額爲1,850萬美元，而2022年第四季度的淨銷售額爲2350萬美元。第四季度的營業虧損爲160萬美元，而去年同期的營業收入爲90萬美元。第四季度調整後的息稅折舊攤銷前利潤爲40萬美元，而去年同期爲200萬美元。按細分市場淨銷售額的百分比計算，調整後的息稅折舊攤銷前利潤爲（2.3）％，而2022年第四季度爲8.6％。
Net sales in 2023 were $83.6 million compared to $107.5 million in 2022. Operating loss in 2023 was $12.6 million compared to operating income of $7.0 million in the prior year. Adjusted EBITDA in 2023 was $3.4 million compared to $11.8 million in the prior year. As a percentage of segment net sales, adjusted EBITDA was 4.1% compared to 10.9% in 2022.
2023年的淨銷售額爲8,360萬美元，而2022年爲1.075億美元。2023年的營業虧損爲1,260萬美元，而上一年的營業收入爲700萬美元。2023年調整後的息稅折舊攤銷前利潤爲340萬美元，而去年同期爲1180萬美元。按細分市場淨銷售額的百分比計算，調整後的息稅折舊攤銷前利潤爲4.1％，而2022年爲10.9％。
Ascent Tubular – net sales from continuing operations in the fourth quarter of 2023 were $22.8 million compared to $30.7 million in the fourth quarter of 2022. Operating loss from continuing operations in the fourth quarter was $4.0 million compared to operating income from continuing operations of $1.2 million in the prior year period. Adjusted EBITDA from continuing operations in the fourth quarter was $(3.1) million compared to $2.1 million in the prior year period. As a percentage of segment net sales, adjusted EBITDA was (13.7)% compared to 6.9% in the fourth quarter of 2022.
Ascent Tubular — 2023年第四季度持續經營業務的淨銷售額爲2,280萬美元，而2022年第四季度爲3,070萬美元。第四季度持續經營業務的營業虧損爲400萬美元，而去年同期持續經營業務的營業收入爲120萬美元。第四季度來自持續經營業務的調整後息稅折舊攤銷前利潤爲310萬美元，而去年同期爲210萬美元。按細分市場淨銷售額的百分比計算，調整後的息稅折舊攤銷前利潤爲（13.7％），而2022年第四季度爲6.9％。
Net sales from continuing operations in 2023 was $109.5 million compared to $154.0 million in 2022. Operating loss from continuing operations in 2023 was $11.2 million compared to $22.2 million in the prior year. Adjusted EBITDA from continuing operations in 2023 was $(7.8) million compared to $25.7 million in the prior year. As a percentage of segment net sales, adjusted EBITDA was (7.1)% compared to 16.7% in 2022.
2023年持續經營業務的淨銷售額爲1.095億美元，而2022年爲1.540億美元。2023年持續經營業務的營業虧損爲1,120萬美元，而去年同期爲2,220萬美元。2023年持續經營業務的調整後息稅折舊攤銷前利潤爲780萬美元，而去年同期爲2570萬美元。調整後的息稅折舊攤銷前利潤佔該細分市場淨銷售額的百分比爲（7.1％），而2022年爲16.7％。
Liquidity
流動性
During the fourth quarter of 2023, Ascent announced the sale of substantially all the assets of Specialty Pipe & Tube for approximately $55 million in an all-cash transaction that closed on December 22, 2023. As a result of the sale, the Company paid off its remaining balance on the revolving credit facility in the fourth quarter of 2023. As of December 31, 2023, the Company did not have any outstanding debt on its balance sheet and had $61.8 million in availability under its revolving credit facility.
在2023年第四季度，Ascent宣佈以約5500萬美元的價格出售Specialty Pipe & Tube的幾乎所有資產，該交易於2023年12月22日結束。由於此次出售，該公司在2023年第四季度還清了循環信貸額度的剩餘餘額。截至2023年12月31日，該公司的資產負債表上沒有任何未償債務，其循環信貸額度下的可用資金爲6180萬美元。
For the year ended December 31, 2023, the Company repurchased 143,108 shares at an average cost of $8.97 per share for approximately $1.3 million.
在截至2023年12月31日的年度中，公司以約130萬美元的價格回購了143,108股股票，平均每股成本爲8.97美元。
Conference Call
電話會議
Ascent will conduct a conference call today at 5:00 p.m. Eastern time to discuss its results for the fourth quarter and full year ended December 31, 2023.
Ascent將於美國東部時間今天下午5點舉行電話會議，討論其截至2023年12月31日的第四季度和全年業績。
Ascent management will host the conference call, followed by a question and answer period.
Ascent 管理層將主持電話會議，隨後是問答時段。
Date: Thursday, March 28, 2024
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.
要通過電話接聽電話，請通過上面的實時通話註冊鏈接進行註冊或 這裏 並且將向您提供撥入說明和詳細信息。如果您在接通電話會議時遇到任何困難，請致電 1-949-574-3860 與 Gateway Group 聯繫。
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 www.ascentco.com.
電話會議還將進行現場直播，並可通過上面的網絡直播註冊鏈接重播，或 這裏。該網絡直播將在公司網站的投資者關係欄目存檔一年，網址爲 www.ascentco.com。
About Ascent Industries Co.
關於Ascent Industries公司
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 www.ascentco.com.
艾森特工業有限公司納斯達克股票代碼：ACNT）是一家從事多種業務活動的公司，包括生產特種化學品和工業管狀產品。有關 Ascent 的更多信息，請訪問其網站 www.ascentco.com。
Forward-Looking Statements
前瞻性陳述
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.
本新聞稿可能包括1995年《私人證券訴訟改革法》和其他適用的聯邦證券法所指的 “前瞻性陳述”。所有非歷史事實的陳述均爲前瞻性陳述。前瞻性陳述可以通過使用 “估計”、“項目”、“打算”、“期望”、“相信”、“應該”、“預測”、“希望”、“樂觀”、“計劃”、“展望”、“應該”、“可以”、“可以” 等詞語和類似的表述來識別。前瞻性陳述受某些風險和不確定性的影響，可能導致實際業績與歷史業績或預期結果存在重大差異。提醒讀者不要過分依賴這些前瞻性陳述，並按照Ascent Industries Co.中更詳細地描述風險。”s 美國證券交易委員會文件，包括我們的10-K表年度報告，這些文件可從美國證券交易委員會或我們的網站上獲得。Ascent Industries Co. 沒有義務更新本新聞稿中包含的任何前瞻性信息。
Non-GAAP Financial Information
非公認會計准則財務信息
Financial statement information included in this earnings release includes non-GAAP (Generally Accepted Accounting Principles) measures and should be read along with the accompanying tables which provide a reconciliation of non-GAAP measures to GAAP measures.
本業績中包含的財務報表信息包括非GAAP（公認會計原則）指標，應與提供非公認會計准則指標對賬的隨附表格一起閱讀。
Adjusted EBITDA is a non-GAAP financial measure that the Company believes is useful to investors in evaluating its results to determine the value of a company. An item is excluded in the measure if its periodic value is inconsistent and sufficiently material that not identifying the item would render period comparability less meaningful to the reader or if including the item provides a clearer representation of normalized periodic earnings. The Company excludes in Adjusted EBITDA two categories of items: 1) Base EBITDA components, including: interest expense, income taxes, depreciation and amortization, and 2) Material transaction costs including: goodwill impairment, asset impairment, gain on lease modification, stock-based compensation, non-cash lease cost, acquisition costs and other fees, , shelf registration costs, loss on extinguishment of debt, earn-out adjustments, , retention costs and restructuring & severance costs from net income.
調整後的息稅折舊攤銷前利潤是一項非公認會計准則財務指標，公司認爲它有助於投資者評估其業績以確定公司的價值。如果某一項目的週期價值不一致且足夠重要，以至於不確定該項目會降低讀者對時期可比性的意義，或者如果將該項目納入該項目可以更清楚地代表正常化的定期收益，則該項不包括在衡量標準中。公司在調整後的息稅折舊攤銷前利潤中排除了兩類項目：1) 基本息稅折舊攤銷前利潤組成部分，包括：利息支出、所得稅、折舊和攤銷，以及 2) 重大交易成本，包括：商譽減值、資產減值、租賃修改收益、股票薪酬、非現金租賃成本、收購成本和其他費用、貨架註冊成本、債務清償損失、收益調整、保留成本以及重組和遣散費來自淨收入。
Management believes that these non-GAAP measures are useful because they are key measures used by our management team to evaluate our operating performance, generate future operating plans and make strategic decisions as well as allow readers to compare the financial results between periods. Non-GAAP measures should not be considered as an alternative to any measure of performance or financial condition as promulgated under GAAP, and investors should consider the Company's performance and financial condition as reported under GAAP and all other relevant information when assessing the performance or financial condition of the Company. Non-GAAP measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the Company's results or financial condition as reported under GAAP.
管理層認爲，這些非公認會計准則指標很有用，因爲它們是我們的管理團隊用來評估我們的經營業績、制定未來運營計劃和做出戰略決策以及允許讀者比較不同時期的財務業績的關鍵指標。不應將非公認會計准則指標視爲根據公認會計原則頒佈的任何業績或財務狀況衡量標準的替代方案，投資者在評估公司的業績或財務狀況時，應考慮根據公認會計原則報告的公司業績和財務狀況以及所有其他相關信息。非公認會計准則指標作爲分析工具存在侷限性，投資者不應孤立地考慮這些指標，也不應將其作爲根據公認會計原則報告的公司業績或財務狀況分析的替代品。
| Ascent Industries Co. | |||||||
| Condensed Consolidated Balance Sheets | |||||||
| (in thousands, except par value and share data) | |||||||
| December 31, 2023 | December 31, 2022 | ||||||
| Assets | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 1,851 | $ | 1,440 | |||
| Accounts receivable, net of allowance for credit losses of $463 and $643, respectively | 26,604 | 33,202 | |||||
| Inventories | 52,306 | 67,671 | |||||
| Prepaid expenses and other current assets | 4,879 | 7,770 | |||||
| Assets held for sale | 2,912 | 380 | |||||
| Current assets of discontinued operations | 861 | 59,912 | |||||
| Total current assets | 89,413 | 170,375 | |||||
| Property, plant and equipment, net | 29,755 | 35,534 | |||||
| Right-of-use assets, operating leases, net | 27,784 | 29,142 | |||||
| Goodwill | — | 11,389 | |||||
| Intangible assets, net | 8,496 | 10,001 | |||||
| Deferred income taxes | 5,808 | 1,353 | |||||
| Deferred charges, net | 104 | 203 | |||||
| Other non-current assets, net | 1,935 | 1,862 | |||||
| Long-term assets of discontinued operations | — | 9,184 | |||||
| Total assets | $ | 163,295 | $ | 269,043 | |||
| Liabilities and Shareholders' Equity | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 16,416 | $ | 14,114 | |||
| Accrued expenses and other current liabilities | 5,108 | 5,509 | |||||
| Current portion of note payable | 360 | 387 | |||||
| Current portion of long-term debt | — | 2,464 | |||||
| Current portion of operating lease liabilities | 1,140 | 1,015 | |||||
| Current portion of finance lease liabilities | 292 | 280 | |||||
| Current liabilities of discontinued operations | 1,473 | 9,709 | |||||
| Total current liabilities | 24,789 | 33,478 | |||||
| Long-term debt | — | 69,085 | |||||
| Long-term portion of operating lease liabilities | 29,729 | 30,869 | |||||
| Long-term portion of finance lease liabilities | 1,307 | 1,242 | |||||
| Other long-term liabilities | 60 | 68 | |||||
| Long-term liabilities of discontinued operations | — | 42 | |||||
| Total non-current liabilities | 31,096 | 101,306 | |||||
| Total liabilities | $ | 55,885 | $ | 134,784 | |||
| Commitments and contingencies | |||||||
| Shareholders' equity: | |||||||
| Common stock, par value $1 per share; 24,000,000 shares authorized; 11,085,103 and 10,094,821 shares issued and outstanding, respectively | $ | 11,085 | $ | 11,085 | |||
| Capital in excess of par value | 47,333 | 47,021 | |||||
| Retained earnings | 58,517 | 85,146 | |||||
| 116,935 | 143,252 | ||||||
| Less: cost of common stock in treasury - 990,282 and 924,504 shares, respectively | (9,525) | (8,993) | |||||
| Total shareholders' equity | 107,410 | 134,259 | |||||
| Total liabilities and shareholders' equity | $ | 163,295 | $ | 269,043 | |||
| Note: The condensed consolidated balance sheets at December 31, 2023 and 2022 have been derived from the audited consolidated financial statements at that date. | |||||||
| 艾森特工業公司 | |||||||
| 簡明合併資產負債表 | |||||||
| （以千計，面值和股票數據除外） | |||||||
| 2023年12月31日 | 2022年12月31日 | ||||||
| 資產 | |||||||
| 流動資產： | |||||||
| 現金和現金等價物 | $ | 1,851 | $ | 1,440 | |||
| 應收賬款，扣除信貸損失備抵額分別爲463美元和643美元 | 26,604 | 33,202 | |||||
| 庫存 | 52,306 | 67,671 | |||||
| 預付費用和其他流動資產 | 4,879 | 7,770 | |||||
| 持有待售資產 | 2,912 | 380 | |||||
| 已終止業務的流動資產 | 861 | 59,912 | |||||
| 流動資產總額 | 89,413 | 170,375 | |||||
| 財產、廠房和設備，淨額 | 29,755 | 35,534 | |||||
| 使用權資產、經營租賃、淨額 | 27,784 | 29,142 | |||||
| 善意 | — | 11,389 | |||||
| 無形資產，淨額 | 8,496 | 10,001 | |||||
| 遞延所得稅 | 5,808 | 1,353 | |||||
| 遞延費用，淨額 | 104 | 203 | |||||
| 其他非流動資產，淨額 | 1,935 | 1,862 | |||||
| 已終止業務的長期資產 | — | 9,184 | |||||
| 總資產 | $ | 163,295 | $ | 269,043 | |||
| 負債和股東權益 | |||||||
| 流動負債： | |||||||
| 應付賬款 | $ | 16,416 | $ | 14,114 | |||
| 應計費用和其他流動負債 | 5,108 | 5,509 | |||||
| 應付票據的當期部分 | 360 | 387 | |||||
| 長期債務的流動部分 | — | 2,464 | |||||
| 經營租賃負債的流動部分 | 1,140 | 015 | |||||
| 融資租賃負債的流動部分 | 292 | 280 | |||||
| 已終止業務的流動負債 | 1,473 | 9,709 | |||||
| 流動負債總額 | 24,789 | 33,478 | |||||
| 長期債務 | — | 69,085 | |||||
| 經營租賃負債的長期部分 | 29,729 | 30,869 | |||||
| 融資租賃負債的長期部分 | 1,307 | 1,242 | |||||
| 其他長期負債 | 60 | 68 | |||||
| 已終止業務的長期負債 | — | 42 | |||||
| 非流動負債總額 | 31,096 | 101,306 | |||||
| 負債總額 | $ | 55,885 | $ | 134,784 | |||
| 承付款和意外開支 | |||||||
| 股東權益： | |||||||
| 普通股，面值每股1美元；已授權24,000,000股；已發行和流通的股票分別爲11,085,103和10,094,821股 | $ | 11,085 | $ | 11,085 | |||
| 資本超過面值 | 47,333 | 47,021 | |||||
| 留存收益 | 58,517 | 85,146 | |||||
| 116,935 | 143,252 | ||||||
| 減去：國庫中普通股的成本——分別爲990,282股和924,504股 | (9,525) | (8,993) | |||||
| 股東權益總額 | 107,410 | 134,259 | |||||
| 負債和股東權益總額 | $ | 163,295 | $ | 269,043 | |||
| 注：截至2023年12月31日和2022年12月31日的簡明合併資產負債表來自該日經審計的合併財務報表。 | |||||||
| Ascent Industries Co. | |||||||||||||||
| Condensed Consolidated Statements of Income (Loss) - Comparative Analysis (Unaudited) | |||||||||||||||
| ($ in thousands, except per share data) | |||||||||||||||
| Three Months Ended | Year Ended | ||||||||||||||
| 2023 | 2022 | 2023 | 2022 | ||||||||||||
| Net sales | |||||||||||||||
| Tubular Products | $ | 22,765 | $ | 30,697 | $ | 109,513 | $ | 154,040 | |||||||
| Specialty Chemicals | 18,451 | 23,473 | 83,616 | 107,542 | |||||||||||
| All Other | — | 10 | 50 | 411 | |||||||||||
| 41,216 | 54,180 | 193,179 | 261,993 | ||||||||||||
| Operating income (loss) from continuing operations | |||||||||||||||
| Tubular Products | (3,995) | 1,232 | (11,210) | 22,182 | |||||||||||
| Specialty Chemicals | (1,623) | 860 | (12,558) | 6,971 | |||||||||||
| All Other | (116) | (175) | (801) | (508) | |||||||||||
| Corporate | |||||||||||||||
| Unallocated corporate expenses | (2,704) | (2,761) | (12,018) | (12,997) | |||||||||||
| Acquisition costs and other | (569) | (266) | (843) | (1,105) | |||||||||||
| Total Corporate | (3,273) | (3,027) | (12,861) | (14,102) | |||||||||||
| Operating (loss) income | (9,007) | (1,110) | (37,430) | 14,543 | |||||||||||
| Interest expense | 1,021 | 1,104 | 4,238 | 2,742 | |||||||||||
| Other, net | (249) | (34) | (593) | (209) | |||||||||||
| (Loss) income from continuing operations before income taxes | (9,779) | (2,180) | (41,075) | 12,010 | |||||||||||
| Income tax benefit | (2,244) | (6,681) | (6,924) | (5,568) | |||||||||||
| (Loss) income from continuing operations | (7,535) | 4,501 | (34,151) | 17,578 | |||||||||||
| Income (loss) from discontinued operations, net of tax | 18,674 | (4,374) | 7,522 | 4,488 | |||||||||||
| Net income (loss) | $ | 11,139 | $ | 127 | $ | (26,629) | $ | 22,066 | |||||||
| Net (loss) income per common share from continuing operations | |||||||||||||||
| Basic | $ | (0.75) | $ | 0.44 | $ | (3.37) | $ | 1.72 | |||||||
| Diluted | $ | (0.73) | $ | 0.43 | $ | (3.37) | $ | 1.69 | |||||||
| Net income (loss) per common share from discontinued operations | |||||||||||||||
| Basic | $ | 1.85 | $ | (0.43) | $ | 0.74 | $ | 0.44 | |||||||
| Diluted | $ | 1.80 | $ | (0.42) | $ | 0.74 | $ | 0.43 | |||||||
| Net income (loss) per common share | |||||||||||||||
| Basic | $ | 1.10 | $ | 0.01 | $ | (2.63) | $ | 2.16 | |||||||
| Diluted | $ | 1.07 | $ | 0.01 | $ | (2.63) | $ | 2.12 | |||||||
| Average shares outstanding | |||||||||||||||
| Basic | 10,107 | 10,213 | 10,140 | 10,230 | |||||||||||
| Diluted | 10,374 | 10,416 | 10,140 | 10,410 | |||||||||||
| Other data: | |||||||||||||||
| Adjusted EBITDA1 | $ | (5,941) | $ | 1,648 | $ | (15,934) | $ | 25,590 | |||||||
| 艾森特工業公司 | |||||||||||||||
| 簡明合併損益表（虧損）-比較分析（未經審計） | |||||||||||||||
| （以千美元計，每股數據除外） | |||||||||||||||
| 三個月已結束 | 年末 | ||||||||||||||
| 2023 | 2022 | 2023 | 2022 | ||||||||||||
| 淨銷售額 | |||||||||||||||
| 管狀產品 | $ | 22,765 | $ | 30,697 | $ | 109,513 | $ | 154,040 | |||||||
| 特種化學品 | 18,451 | 23,473 | 83,616 | 107,542 | |||||||||||
| 所有其他 | — | 10 | 50 | 411 | |||||||||||
| 41,216 | 54,180 | 193,179 | 261,993 | ||||||||||||
| 來自持續經營業務的營業收入（虧損） | |||||||||||||||
| 管狀產品 | (3,995) | 1,232 | (11,210) | 22,182 | |||||||||||
| 特種化學品 | (1,623) | 860 | (12,558) | 6,971 | |||||||||||
| 所有其他 | (116) | (175) | (801) | (508) | |||||||||||
| 企業 | |||||||||||||||
| 未分配的公司開支 | (2,704) | (2,761) | (12,018) | (12,997) | |||||||||||
| 收購成本及其他 | (569) | (266) | (843) | (1,105) | |||||||||||
| 企業合計 | (3,273) | (3,027) | (12,861) | (14,102) | |||||||||||
| 經營（虧損）收入 | (9,007) | (1,110) | (37,430) | 14,543 | |||||||||||
| 利息支出 | 1,021 | 1,104 | 4,238 | 2,742 | |||||||||||
| 其他，淨額 | (249) | (34) | (593) | (209) | |||||||||||
| 所得稅前持續經營業務的（虧損）收入 | (9,779) | (2,180) | (41,075) | 12,010 | |||||||||||
| 所得稅優惠 | (2,244) | (6,681) | (6,924) | (5,568) | |||||||||||
| 來自持續經營業務的（虧損）收入 | (7,535) | 4,501 | (34,151) | 17,578 | |||||||||||
| 已終止業務的收入（虧損），扣除稅款 | 18,674 | (4,374) | 7,522 | 4,488 | |||||||||||
| 淨收益（虧損） | $ | 11,139 | $ | 127 | $ | (26,629) | $ | 22,066 | |||||||
| 來自持續經營業務的每股普通股淨（虧損）收益 | |||||||||||||||
| 基本 | $ | (0.75) | $ | 0.44 | $ | (3.37) | $ | 1.72 | |||||||
| 稀釋 | $ | (0.73) | $ | 0.43 | $ | (3.37) | $ | 1.69 | |||||||
| 來自已終止業務的每股普通股淨收益（虧損） | |||||||||||||||
| 基本 | $ | 1.85 | $ | (0.43) | $ | 0.74 | $ | 0.44 | |||||||
| 稀釋 | $ | 1.80 | $ | (0.42) | $ | 0.74 | $ | 0.43 | |||||||
| 普通股每股淨收益（虧損） | |||||||||||||||
| 基本 | $ | 1.10 | $ | 0.01 | $ | (2.63) | $ | 2.16 | |||||||
| 稀釋 | $ | 1.07 | $ | 0.01 | $ | (2.63) | $ | 2.12 | |||||||
| 平均已發行股數 | |||||||||||||||
| 基本 | 10,107 | 10,213 | 10,140 | 10,230 | |||||||||||
| 稀釋 | 10,374 | 10,416 | 10,140 | 10,410 | |||||||||||
| 其他數據： | |||||||||||||||
| 調整後 EBITDA1 | $ | (5,941) | $ | 1,648 | $ | (15,934) | $ | 25,590 | |||||||
| 1 | The term Adjusted EBITDA is a non-GAAP financial measure that the Company believes is useful to investors in evaluating its results to determine the value of a company. An item is excluded in the measure if its periodic value is inconsistent and sufficiently material that not identifying the item would render period comparability less meaningful to the reader or if including the item provides a clearer representation of normalized periodic earnings. The Company excludes in Adjusted EBITDA two categories of items: 1) Base EBITDA components, including: interest expense, income taxes, depreciation and amortization, and 2) Material transaction costs including: goodwill impairment, asset impairment, gain on lease modification, stock-based compensation, non-cash lease cost, acquisition costs and other fees, loss on extinguishment of debt, earn-out adjustments, retention costs and restructuring & severance costs from net income. For a reconciliation of this non-GAAP measure to the most comparable GAAP equivalent, refer to the Reconciliation of Net Income (Loss) to Adjusted EBITDA. |
| 1 | 調整後息稅折舊攤銷前利潤一詞是一項非公認會計准則財務指標，公司認爲它有助於投資者評估其業績以確定公司的價值。如果某一項目的週期價值不一致且足夠重要，以至於不確定該項目會降低讀者對時期可比性的意義，或者如果將該項目納入該項目可以更清楚地代表正常化的定期收益，則該項不包括在衡量標準中。公司在調整後的息稅折舊攤銷前利潤中排除了兩類項目：1) 基本息稅折舊攤銷前利潤組成部分，包括：利息支出、所得稅、折舊和攤銷；2) 重大交易成本，包括：商譽減值、資產減值、租賃修改收益、股票薪酬、非現金租賃成本、收購成本和其他費用、債務清償損失、收益調整、保留成本以及淨收益中的重組和遣散成本。有關該非公認會計准則指標與最具可比性的GAAP等值的對賬，請參閱淨收益（虧損）與調整後息稅折舊攤銷前利潤的對賬。 |
| Ascent Industries Co. | |||||||
| Consolidated Statements of Cash Flows | |||||||
| ($ in thousands) | |||||||
| Year Ended December 31, | |||||||
| 2023 | 2022 | ||||||
| Operating activities | |||||||
| Net (loss) income | $ | (26,629) | $ | 22,066 | |||
| Net income from discontinued operations, net of tax | 7,522 | 4,488 | |||||
| Net (loss) income from continuing operations | (34,151) | 17,578 | |||||
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | |||||||
| Depreciation expense | 6,161 | 6,421 | |||||
| Amortization expense | 1,505 | 1,853 | |||||
| Amortization of debt issuance costs | 99 | 99 | |||||
| Goodwill impairment | 11,389 | — | |||||
| Deferred income taxes | (6,924) | (5,568) | |||||
| Payments of earn-out liabilities in excess of acquisition date fair value | — | (372) | |||||
| Provision for losses on accounts receivable | (180) | 478 | |||||
| Provision for losses on inventories | 3,318 | 2,615 | |||||
| Loss (gain) on disposal of property, plant and equipment | 246 | (18) | |||||
| Non-cash lease expense | 242 | 414 | |||||
| Issuance of treasury stock for director fees | — | 364 | |||||
| Stock-based compensation expense | 1,023 | 1,355 | |||||
| Changes in operating assets and liabilities: | |||||||
| Accounts receivable | 6,778 | (264) | |||||
| Inventories | 12,245 | (13,685) | |||||
| Other assets and liabilities | 515 | (211) | |||||
| Accounts payable | 1,650 | (6,269) | |||||
| Accounts payable - related parties | — | (2) | |||||
| Accrued expenses | (401) | (2,127) | |||||
| Accrued income taxes | 3,129 | (7,923) | |||||
| Net cash provided by (used in) operating activities - continuing operations | 6,644 | (5,262) | |||||
| Net cash provided by operating activities - discontinued operations | 16,434 | 10,839 | |||||
| Net cash provided by operating activities | 23,078 | 5,577 | |||||
| Investing activities | |||||||
| Purchases of property, plant and equipment | (2,885) | (3,394) | |||||
| Proceeds from disposal of property, plant and equipment | — | 99 | |||||
| Net cash used in investing activities - continuing operations | (2,885) | (3,295) | |||||
| Net cash provided by (used in) investing activities - discontinued operations | 53,386 | (1,680) | |||||
| Net cash provided by (used in) investing activities | 50,501 | (4,975) | |||||
| Financing activities | |||||||
| Borrowings from long-term debt | 256,606 | 443,363 | |||||
| Proceeds from note payable | 900 | 967 | |||||
| Proceeds from the exercise of stock options | — | 175 | |||||
| Payments on long-term debt | (328,155) | (442,206) | |||||
| Payments on note payable | (928) | (580) | |||||
| Principal payments on finance lease obligations | (305) | (266) | |||||
| Payments on earn-out liabilities | — | (484) | |||||
| Repurchase of common stock | (1,287) | (1,343) | |||||
| Net cash used in financing activities - continuing operations | (73,169) | (374) | |||||
| Net cash used in financing activities - discontinued operations | — | (808) | |||||
| Net cash used in financing activities | (73,169) | (1,182) | |||||
| Increase (decrease) in cash and cash equivalents | 410 | (580) | |||||
| Less: Cash and cash equivalents of discontinued operations | — | 4 | |||||
| Cash and cash equivalents, beginning of period | 1,441 | 2,017 | |||||
| Cash and cash equivalents, end of period | $ | 1,851 | $ | 1,441 | |||
| 艾森特工業公司 | |||||||
| 合併現金流量表 | |||||||
| （以千美元計） | |||||||
| 截至12月31日的財年 | |||||||
| 2023 | 2022 | ||||||
| 經營活動 | |||||||
| 淨（虧損）收入 | $ | (26,629) | $ | 22,066 | |||
| 已終止業務的淨收入，扣除稅款 | 7,522 | 4,488 | |||||
| 來自持續經營的淨（虧損）收入 | (34,151) | 17,578 | |||||
| 爲調節淨（虧損）收入與經營活動提供的淨現金而進行的調整： | |||||||
| 折舊費用 | 6,161 | 6,421 | |||||
| 攤銷費用 | 1,505 | 1,853 | |||||
| 債務發行成本的攤銷 | 99 | 99 | |||||
| 商譽減值 | 11,389 | — | |||||
| 遞延所得稅 | (6,924) | (5,568) | |||||
| 超過收購日公允價值的盈利負債的支付 | — | (372) | |||||
| 應收賬款損失準備金 | (180) | 478 | |||||
| 存貨損失準備金 | 3,318 | 2615 | |||||
| 處置財產、廠房和設備的損失（收益） | 246 | (18) | |||||
| 非現金租賃費用 | 242 | 414 | |||||
| 發行庫存股以支付袍金 | — | 364 | |||||
| 股票薪酬支出 | 1,023 | 1,355 | |||||
| 運營資產和負債的變化： | |||||||
| 應收賬款 | 6,778 | (264) | |||||
| 庫存 | 12,245 | (13,685) | |||||
| 其他資產和負債 | 515 | (211) | |||||
| 應付賬款 | 1,650 | (6,269) | |||||
| 應付賬款-關聯方 | — | (2) | |||||
| 應計費用 | (401) | (2,127) | |||||
| 應計所得稅 | 3,129 | (7,923) | |||||
| （用於）經營活動提供的淨現金——持續經營 | 6,644 | (5,262) | |||||
| 經營活動提供的淨現金——已終止的業務 | 16,434 | 10,839 | |||||
| 經營活動提供的淨現金 | 23,078 | 5,577 | |||||
| 投資活動 | |||||||
| 購買不動產、廠房和設備 | (2,885) | (3,394) | |||||
| 處置財產、廠房和設備的收益 | — | 99 | |||||
| 用於投資活動的淨現金——持續經營 | (2,885) | (3,295) | |||||
| （用於）投資活動提供的淨現金——已終止的業務 | 53,386 | (1,680) | |||||
| 由（用於）投資活動提供的淨現金 | 50,501 | (4,975) | |||||
| 籌資活動 | |||||||
| 從長期債務中借款 | 256,606 | 443,363 | |||||
| 應付票據的收益 | 900 | 967 | |||||
| 行使股票期權的收益 | — | 175 | |||||
| 長期債務的付款 | (328,155) | (442,206) | |||||
| 應付票據付款 | (928) | (580) | |||||
| 融資租賃債務的本金支付 | (305) | (266) | |||||
| 盈利負債的付款 | — | (484) | |||||
| 回購普通股 | (1,287) | (1,343) | |||||
| 用於融資活動的淨現金——持續經營 | (73,169) | (374) | |||||
| 用於融資活動的淨現金——已終止的業務 | — | (808) | |||||
| 用於融資活動的淨現金 | (73,169) | (1,182) | |||||
| 現金和現金等價物的增加（減少） | 410 | (580) | |||||
| 減去：已終止業務的現金和現金等價物 | — | 4 | |||||
| 現金和現金等價物，期初 | 1,441 | 2,017 | |||||
| 現金和現金等價物，期末 | $ | 1,851 | $ | 1,441 | |||
| Ascent Industries Co. | |||||||||||||||
| Non-GAAP Financial Measures Reconciliation | |||||||||||||||
| Reconciliation of Net Income (Loss) to Adjusted EBITDA (Unaudited) | |||||||||||||||
| ($ in thousands) | |||||||||||||||
| Three Months Ended | Year Ended | ||||||||||||||
| ($ in thousands) | 2023 | 2022 | 2023 | 2022 | |||||||||||
| Consolidated | |||||||||||||||
| Net (loss) income from continuing operations | $ | (7,535) | $ | 4,501 | $ | (34,151) | $ | 17,578 | |||||||
| Adjustments: | |||||||||||||||
| Interest expense | 1,021 | 1,104 | 4,238 | 2,742 | |||||||||||
| Income taxes | (2,244) | (6,681) | (6,924) | (5,568) | |||||||||||
| Depreciation | 1,527 | 1,579 | 6,161 | 6,421 | |||||||||||
| Amortization | 376 | 429 | 1,505 | 1,853 | |||||||||||
| EBITDA | (6,855) | 932 | (29,171) | 23,026 | |||||||||||
| Acquisition costs and other | 579 | 266 | 856 | 1,104 | |||||||||||
| Shelf registration costs | — | 12 | — | 12 | |||||||||||
| Goodwill impairment | — | — | 11,389 | — | |||||||||||
| Gain on lease modification | — | — | — | (2) | |||||||||||
| Stock-based compensation | 224 | 283 | 594 | 962 | |||||||||||
| Non-cash lease expense | 52 | 91 | 242 | 414 | |||||||||||
| Retention expense | 20 | — | 26 | — | |||||||||||
| Restructuring and severance costs | 39 | 64 | 130 | 74 | |||||||||||
| Adjusted EBITDA | $ | (5,941) | $ | 1,648 | $ | (15,934) | $ | 25,590 | |||||||
| % sales | (14.4)% | 3.0% | (8.2)% | 9.8% | |||||||||||
| 艾森特工業公司 | |||||||||||||||
| 非公認會計准則財務指標對賬 | |||||||||||||||
| 淨收益（虧損）與調整後息稅折舊攤銷前利潤的對賬（未經審計） | |||||||||||||||
| （以千美元計） | |||||||||||||||
| 三個月已結束 | 年末 | ||||||||||||||
| （以千美元計） | 2023 | 2022 | 2023 | 2022 | |||||||||||
| 合併 | |||||||||||||||
| 來自持續經營的淨（虧損）收入 | $ | (7,535) | $ | 4,501 | $ | (34,151) | $ | 17,578 | |||||||
| 調整： | |||||||||||||||
| 利息支出 | 1,021 | 1,104 | 4,238 | 2,742 | |||||||||||
| 所得稅 | (2,244) | (6,681) | (6,924) | (5,568) | |||||||||||
| 折舊 | 1,527 | 1,579 | 6,161 | 6,421 | |||||||||||
| 攤銷 | 376 | 429 | 1,505 | 1,853 | |||||||||||
| EBITDA | (6,855) | 932 | (29,171) | 23,026 | |||||||||||
| 收購成本及其他 | 579 | 266 | 856 | 1,104 | |||||||||||
| 貨架註冊費用 | — | 12 | — | 12 | |||||||||||
| 商譽減值 | — | — | 11,389 | — | |||||||||||
| 修改租約的收益 | — | — | — | (2) | |||||||||||
| 基於股票的薪酬 | 224 | 283 | 594 | 962 | |||||||||||
| 非現金租賃費用 | 52 | 91 | 242 | 414 | |||||||||||
| 留存費用 | 20 | — | 26 | — | |||||||||||
| 重組和遣散費 | 39 | 64 | 130 | 74 | |||||||||||
| 調整後的息稅折舊攤銷前 | $ | (5,941) | $ | 1,648 | $ | (15,934) | $ | 25,590 | |||||||
| 銷售額百分比 | (14.4)% | 3.0% | (8.2)% | 9.8% | |||||||||||
| Tubular Products | |||||||||||||||
| Net (loss) income from continuing operations | $ | (3,995) | $ | 1,232 | $ | (11,210) | $ | 22,182 | |||||||
| Adjustments: | |||||||||||||||
| Depreciation expense | 557 | 609 | 2,274 | 2,500 | |||||||||||
| Amortization expense | 217 | 238 | 871 | 951 | |||||||||||
| EBITDA | (3,221) | 2,079 | (8,065) | 25,633 | |||||||||||
| Stock-based compensation | 74 | 11 | 58 | 46 | |||||||||||
| Non-cash lease expense | 25 | — | 118 | — | |||||||||||
| Retention expense | 8 | — | 8 | — | |||||||||||
| Restructuring and severance costs | — | 20 | 84 | 20 | |||||||||||
| Tubular Products Adjusted EBITDA | $ | (3,114) | $ | 2,110 | $ | (7,797) | $ | 25,699 | |||||||
| % segment sales | (13.7)% | 6.9% | (7.1)% | 16.7% | |||||||||||
| Specialty Chemicals | |||||||||||||||
| Net (loss) income | $ | (1,644) | $ | 852 | $ | (12,619) | $ | 6,935 | |||||||
| Adjustments: | |||||||||||||||
| Interest expense | 22 | 9 | 74 | 36 | |||||||||||
| Depreciation expense | 948 | 949 | 3,798 | 3,846 | |||||||||||
| Amortization expense | 158 | 191 | 634 | 903 | |||||||||||
| EBITDA | (516) | 2,001 | (8,113) | 11,720 | |||||||||||
| Acquisition costs and other | 10 | — | 12 | — | |||||||||||
| Goodwill impairment | — | — | 11,389 | — | |||||||||||
| Stock-based compensation | 21 | 12 | 8 | 41 | |||||||||||
| Non-cash lease expense | 19 | — | 88 | 2 | |||||||||||
| Restructuring and severance costs | 40 | 8 | 40 | 8 | |||||||||||
| Specialty Chemicals Adjusted EBITDA | $ | (426) | $ | 2,021 | $ | 3,424 | $ | 11,771 | |||||||
| % segment sales | (2.3)% | 8.6% | 4.1% | 10.9% | |||||||||||
| 管狀產品 | |||||||||||||||
| 來自持續經營的淨（虧損）收入 | $ | (3,995) | $ | 1,232 | $ | (11,210) | $ | 22,182 | |||||||
| 調整： | |||||||||||||||
| 折舊費用 | 557 | 609 | 2,274 | 2500 | |||||||||||
| 攤銷費用 | 217 | 238 | 871 | 951 | |||||||||||
| EBITDA | (3,221) | 2,079 | (8,065) | 25,633 | |||||||||||
| 基於股票的薪酬 | 74 | 11 | 58 | 46 | |||||||||||
| 非現金租賃費用 | 25 | — | 118 | — | |||||||||||
| 留存費用 | 8 | — | 8 | — | |||||||||||
| 重組和遣散費 | — | 20 | 84 | 20 | |||||||||||
| 管狀產品調整後的息稅折舊攤銷前利潤 | $ | (3,114) | $ | 2,110 | $ | (7,797) | $ | 25,699 | |||||||
| 細分市場銷售額百分比 | (13.7)% | 6.9% | (7.1)% | 16.7% | |||||||||||
| 特種化學品 | |||||||||||||||
| 淨（虧損）收入 | $ | (1,644) | $ | 852 | $ | (12,619) | $ | 6,935 | |||||||
| 調整： | |||||||||||||||
| 利息支出 | 22 | 9 | 74 | 36 | |||||||||||
| 折舊費用 | 948 | 949 | 3,798 | 3,846 | |||||||||||
| 攤銷費用 | 158 | 191 | 634 | 903 | |||||||||||
| EBITDA | (516) | 2,001 | (8,113) | 11,720 | |||||||||||
| 收購成本及其他 | 10 | — | 12 | — | |||||||||||
| 商譽減值 | — | — | 11,389 | — | |||||||||||
| 基於股票的薪酬 | 21 | 12 | 8 | 41 | |||||||||||
| 非現金租賃費用 | 19 | — | 88 | 2 | |||||||||||
| 重組和遣散費 | 40 | 8 | 40 | 8 | |||||||||||
| 特種化學品調整後的息稅折舊攤銷前 | $ | (426) | $ | 2,021 | $ | 3,424 | $ | 11,771 | |||||||
| 細分市場銷售額百分比 | (2.3)% | 8.6% | 4.1% | 10.9% | |||||||||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20240328924168/en/
在 businesswire.com 上查看源版本： https://www.businesswire.com/news/home/20240328924168/en/
Company Contact
Ryan Kavalauskas
Chief Financial Officer
1-630-884-9181
Investor Relations
Cody Slach and Cody Cree
Gateway Group, Inc.
1-949-574-3860
ACNT@gateway-grp.com
公司聯繫人
瑞安·卡瓦勞斯卡斯
首席財務官
1-630-884-9181
投資者關係
Cody Slach 和 Cody Cree
蓋特威集團有限公司
1-949-574-3860
ACNT@gateway-grp.com
Source: Ascent Industries Co.
來源：Ascent Industries Co.
Released March 28, 2024
2024 年 3 月 28 日發佈