AdvanSix Inc. Annual Report 2024

FY2024 Annual Report · AdvanSix Inc.
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It all starts with… 
diversified chemistry that 
makes an impact.
A D V A N S I X  2 0 2 4  A N N U A L  R E P O R T
ERIC C.
PSM Manager
NISHA S.
Process Engineer

Throughout 2024, we remained steadfast in 
demonstrating our ability to perform through a multitude 
of environments, delivering on the strategies that support 
our competitive advantage to capture commercial 
success and advance our targeted growth initiatives.
Through a dynamic market environment and challenging 
operational year, we delivered full year adjusted EBITDA 
of $142 million and positive free cash flow, while continuing 
to fund key growth and enterprise programs, return cash 
to shareholders and maintain our healthy balance sheet. 
As a diversified chemistry company, our business is best 
viewed through the lens of long-term performance as we 
drive through-cycle profitability to deliver meaningful and 
consistent financial returns to our shareholders.  
We are keenly focused on delivering on what we can 
control - driving productivity, optimizing our regional and 
product sales mix and promoting the value proposition 
of our differentiated product portfolio. This has served 
as an enabler for our resilient business model over the 
longer-term through various economic environments to 
drive strong, sustainable shareholder value. Since our 
establishment as a publicly traded company in 2016, we 
have:
•	 Driven 84% total stockholder return, significantly 
outpacing our compensation peer group performance 
for the same period.   
•	 Structurally improved base earnings power through 
high-return growth and cost savings projects, 
enhanced sales mix, operational improvements, and 
inorganic growth.
•	 Generated $1.3 billion of cash from operations, 
deployed via a disciplined, two-pronged framework 
of critical funding and discretionary choices to create 
value.  Our capital allocation has supported dividend 
growth of 28% since inception, the repurchase of 17% 
of outstanding shares, enabled organic and inorganic 
investment for long-term performance and growth, all 
while maintaining prudent debt levels. 
•	 Generated double-digit percentage returns on invested 
capital through the cycle and have outperformed peers, 
which is a testament to the earnings power created 
from our investments along with our operational and 
commercial execution.
Our long-term performance is linked to strategic choices 
and controllable value drivers across each of our 
businesses. Highlights for the past year include:
•	 Continued benefit from our diverse product portfolio, 
advantage of our integrated business model and 
favorable industry dynamics with strong performance 
across our ammonium sulfate and acetone businesses.  
•	 One of the first industrial companies to be recognized 
for carbon capture through an approved life cycle 
assessment enabling initial 45Q tax credits of $9.7 million 
claimed in the fourth quarter, with anticipated credit 
eligibility through 2030.
•	 An omnibus settlement, totaling approximately $39 
million of aggregated insurance proceeds related to 
losses associated with the 2019 Philadelphia Energy 
Solutions (PES) supplier shutdown.
•	 Capital Expenditures of $134 million – funding key 
growth and enterprise initiatives including our SUSTAIN 
(Sustainable U.S. Sulfate to Accelerate Increased 
Nutrition) program to expand granular ammonium 
sulfate production with IRR of 30+%.
While we know that 2025 will again be another 
dynamic year, we are well-positioned as an American 
manufacturer of essential chemistries aligned to domestic 
supply chains and energy markets as well as a diverse 
set of end market applications – including Plant Nutrients 
supporting secular agriculture trends – and will continue 
to pivot where needed as we evaluate the evolving 
macroeconomic environment. We remain unwavering in 
our commitment to deliver against our strategic objectives 
to advance long-term value creation while playing the 
winning hand within each of our businesses, always with 
our values of safety, integrity, accountability and respect 
at our core. 
AdvanSix offers a compelling investment thesis over the 
short, medium and long-term, and we appreciate your 
trust to invest in our strategy and path forward.
Thank you for your continued interest in AdvanSix, and
stay safe.
President and Chief Executive Officer
ERIN N. KANE
To My Fellow Shareholders

•	•	
FY24 Net Income of $44M, Cash Flow from Operations of $135M
•	•	
Benefits from our diverse portfolio, advantage of our business 
model and favorable industry dynamics, particularly in Plant 
Nutrients and Acetone 
•	•	
Progressing 45Q carbon capture tax credits with initial $9.7 
million claimed in 4Q24
•	•	
Invested $134M in CapEx - funded key growth and enterprise 
initiatives, including our SUSTAIN (Sustainable U.S. Sulfate to 
Accelerate Increased Nutrition) program 
•	•	
Maintaining a strong balance sheet and prudent leverage 
ratios through the cycle; debt leverage ended the year at ~1x
•	•	
Final insurance settlement proceeds related to 2019 PES 
supplier shutdown
ACHIEVED COMMERCIAL SUCCESS AND ADVANCED 
TARGETED GROWTH INITIATIVES, WHILE NAVIGATING 
OPERATIONAL CHALLENGES IN THE YEAR.
FY24 SALES
$1.5B
FY24 ADJUSTED EBITDA
$142M
KEY EXTERNAL RECOGNITIONS THIS YEAR 
SUSTAIN 
USDA GRANT RECIPIENT
FY24 RETURN OF CASH
TO SHAREHOLDERS
$28M
FY24 ADJUSTED 
EARNINGS PER SHARE
$1.96
Business Highlights
See the reconciliations of non-GAAP financial measures to GAAP financial measures beginning on page 33 of our Annual 
Report on Form 10-K. Investors are urged to consider carefully the comparable GAAP measures and the reconciliations to 
those measures provided. Non-GAAP measures may be calculated in a way that is not comparable to similarly-titled measures 
reported by other companies. Forward-looking statements are subject to risks, uncertainties and assumptions, all of which are 
described in our SEC filings, including our Annual Report on Form 10-K.

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