What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2026-05-08 compared with 2025-11-07 · 92 added, 169 removed, 310 unchanged (46% of the section changed)

4 unchanged sentences

Three Months Ended

September 30, Nine Months Ended

September 30,

2025 2024 2025 2024

Sales $ 404,183 $ 377,791

Costs, expenses and other:

Costs of goods sold 349,088 340,885 1,024,716 1,046,860

Cost of goods sold 400,381 324,320

Selling, general and administrative expenses 22,518 23,409

Interest expense, net 2,430 1,541

Other non-operating (income) expense, net ( 815 ) 368 ( 1,831 ) 1,808

Other non-operating income, net ( 469 ) ( 408 )

Total costs, expenses and other 424,860 348,862

13 unchanged sentences

Three Months Ended

September 30, Nine Months Ended

September 30,

2025 2024 2025 2024

Net income (loss) $ ( 15,546 ) $ 23,344

1 unchanged sentence

Cash-flow hedges — 7

Other comprehensive loss, net of tax ( 189 ) ( 24 ) ( 147 ) ( 59 )

Other comprehensive income, net of tax 8 18

Comprehensive income (loss) $ ( 15,538 ) $ 23,362

3 unchanged sentences

(Dollars in thousands, except share and per share amounts)

September 30,

2026 December 31,

22 unchanged sentences

Line of credit – long-term 270,000 215,000

Postretirement benefit obligations 257 —

Other liabilities 10,701 10,719

4 unchanged sentences

200,000,000 shares authorized;

33,177,824 shares issued and 26,864,035 outstanding at September 30, 2025;

33,345,325 shares issued and 26,959,036 outstanding at March 31, 2026;

33,177,824 shares issued and 26,864,035 outstanding at December 31, 2025

Preferred stock, par value $ 0.01 ;

50,000,000 shares authorized and 0 shares issued and outstanding at September 30, 2025 and December 31, 2024

Treasury stock at par ( 6,313,789 shares at September 30, 2025;

50,000,000 shares authorized and 0 shares issued and outstanding at March 31, 2026 and December 31, 2025

Treasury stock at par ( 6,386,289 shares at March 31, 2026;

6,313,789 shares at December 31, 2025)

9 unchanged sentences

(Dollars in thousands)

Nine Months Ended

September 30,

Three Months Ended

Cash flows from operating activities:

Net income $ 52,077 $ 43,797

Net income (loss) $ ( 15,546 ) $ 23,344

Adjustments to reconcile net income to net cash provided by operating activities:

4 unchanged sentences

Amortization of deferred financing fees 123 155

Operational asset adjustments — 1,200

Changes in assets and liabilities, net of business acquisitions:

7 unchanged sentences

Other assets and liabilities 2,106 1,619

Net cash provided by operating activities 59,141 71,248

Net cash provided by (used for) operating activities ( 15,332 ) 11,443

Cash flows from investing activities:

17 unchanged sentences

Cash paid for interest $ 2,307 $ 584

Cash paid for income taxes $ 15,201 $ 19,019

Cash paid for income taxes, net of refund $ 247 $ —

See accompanying notes to Condensed Consolidated Financial Statements.

5 unchanged sentences

Balance at December 31, 2025 33,177,824 $ 332 $ 142,932 $ 663,019 $ ( 63 ) $ 8,996 $ 815,216

Net income — — — 23,344 — — 23,344

Net loss — — — ( 15,546 ) — — ( 15,546 )

Comprehensive income

Foreign exchange translation adjustments — — — — — 8 8

Cash-flow hedges — — — — — 7 7

Other comprehensive income, net of tax — — — — — 8 8

5 unchanged sentences

Balance at March 31, 2026 33,345,325 $ 334 $ 144,066 $ 642,949 $ ( 64 ) $ 9,004 $ 796,289

Net income — — — 31,371 — — 31,371

Comprehensive income

Foreign exchange translation adjustments — — — — — 24 24

Other comprehensive loss, net of tax — — — — — 24 24

Issuance of common stock 38,907 1 — — — — 1

Purchase of treasury stock ( 2,538 shares)

— — ( 51 ) — — — ( 51 )

Stock-based compensation — — 2,309 — — — 2,309

Dividends — — 162 ( 4,452 ) — — ( 4,290 )

Balance at June 30, 2025 33,152,286 332 140,097 677,354 ( 63 ) 6,012 823,732

Net income — — — ( 2,638 ) — — ( 2,638 )

Comprehensive income

Foreign exchange translation adjustments — — — — — ( 189 ) ( 189 )

Other comprehensive loss, net of tax — — — — — ( 189 ) ( 189 )

Issuance of common stock 25,538 — 112 — — — 112

Purchase of treasury stock ( 5,690 shares)

— — ( 121 ) — — — ( 121 )

Stock-based compensation — — 1,632 — — — 1,632

Dividends — — 156 ( 4,452 ) — — ( 4,296 )

Balance at September 30, 2025 33,177,824 $ 332 $ 141,876 $ 670,264 $ ( 63 ) $ 5,823 $ 818,232

ADVANSIX INC.

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY

(Dollars in thousands)

Common Stock Additional Paid-In Capital Retained Earnings Treasury Stock Accumulated Other Comprehensive Income (Loss) Total Equity

1 unchanged sentence

Balance at December 31, 2024 32,989,165 $ 330 $ 136,872 $ 631,541 $ ( 63 ) $ 5,970 $ 774,650

Net loss — — — ( 17,396 ) — — ( 17,396 )

Net income — — — 23,344 — — 23,344

Comprehensive income

1 unchanged sentence

Cash-flow hedges — — — — — 7 7

Other comprehensive loss, net of tax — — — — — ( 8 ) ( 8 )

Other comprehensive income, net of tax — — — — — 18 18

Issuance of common stock 124,214 1 153 — — — 154

4 unchanged sentences

Balance at March 31, 2025 33,113,379 $ 331 $ 137,677 $ 650,435 $ ( 63 ) $ 5,988 $ 794,368

Net income — — — 38,927 — — 38,927

Comprehensive income

Foreign exchange translation adjustments — — — — — ( 27 ) ( 27 )

Other comprehensive loss, net of tax — — — — — ( 27 ) ( 27 )

Issuance of common stock 36,653 1 — — — — 1

Purchase of treasury stock ( 141,242 shares)

— — ( 3,360 ) — ( 2 ) — ( 3,362 )

Stock-based compensation — — 2,193 — — — 2,193

Dividends — — 130 ( 4,422 ) — — ( 4,292 )

Balance at June 30, 2024 32,959,588 330 132,786 617,723 ( 63 ) ( 4,179 ) 746,597

Net income — — — 22,266 — — 22,266

Comprehensive income

Foreign exchange translation adjustments — — — — — ( 24 ) ( 24 )

Other comprehensive loss, net of tax — — — — — ( 24 ) ( 24 )

Issuance of common stock 23,280 — 328 — — — 328

Purchase of treasury stock ( 1,948 shares)

— — ( 42 ) — — — ( 42 )

Stock-based compensation — — 1,559 — — — 1,559

Dividends — — 104 ( 4,380 ) — — ( 4,276 )

Balance at September 30, 2024 32,982,868 $ 330 $ 134,735 $ 635,609 $ ( 63 ) $ ( 4,203 ) $ 766,408

See accompanying notes to Condensed Consolidated Financial Statements.

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AdvanSix Inc.

("AdvanSix," the "Company," "we" or "our") is a diversified chemistry company that produces essential materials for our customers in a wide variety of end markets and applications that touch people’s lives.

Our integrated value chain of our five U.S.-based manufacturing facilities plays a critical role in global supply chains and enables us to innovate and deliver essential products for our customers across building and construction, fertilizers, agrochemicals, plastics, solvents, packaging, paints, coatings, adhesives, electronics and other end markets.

("AdvanSix," the "Company," "we" or "our") is a vertically integrated chemistry company that produces essential materials for diverse end markets.

Our value chain of our five U.S.-based manufacturing facilities plays a critical role in global supply chains and enables us to innovate and deliver essential products for our customers across building and construction, fertilizers, agrochemicals, plastics, solvents, packaging, paints, coatings, adhesives, electronics and other end markets.

Guided by our core values of Safety, Integrity, Accountability and Respect, AdvanSix strives to deliver best-in-class customer experiences and differentiated products in the industries of nylon solutions, plant nutrients and chemical intermediates.

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GAAP for complete financial statements.

In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of the Company's financial position as of September 30, 2025, and its results of operations for the three and nine months ended September 30, 2025 and 2024 and cash flows for the nine months ended September 30, 2025 and 2024.

In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of the Company's financial position as of March 31, 2026, and its results of operations for the three months ended March 31, 2026 and 2025 and cash flows for the three months ended March 31, 2026 and 2025.

The year-end Condensed Consolidated Balance Sheet data was derived from audited financial statements but does not include all disclosures required by U.S.

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In the event that differences in actual closing dates are material to year-over-year comparisons of quarterly or year-to-date results, we will provide the appropriate disclosures.

Our actual closing dates for the three and nine months ended September 30, 2025 and 2024 were September 27, 2025 and September 28, 2024, respectively.

Liabilities to creditors to whom we have issued checks that remained outstanding at September 30, 2025 and December 31, 2024 aggregated to $ 6.4 million and $ 7.3 million, respectively.

Our actual closing dates for the three months ended March 31, 2026 and 2025 were April 4, 2026 and March 29, 2025, respectively, which resulted in six additional reporting days in the current year period from our normal quarterly closing procedures.

Liabilities to creditors to whom we have issued checks that remained outstanding at March 31, 2026 and December 31, 2025 aggregated to $ 9.0 million and $ 4.9 million, respectively.

These were included in Cash and cash equivalents and Accounts payable in the Condensed Consolidated Balance Sheets.

The Company previously reported a business impact associated with the June 2019 fire that shut down the Philadelphia Energy Solutions refinery in Philadelphia, Pennsylvania.

The Company actively pursued a business interruption claim and reached a final omnibus settlement in January 2025 which resulted in insurance settlement proceeds of approximately $ 26 million in the first quarter of 2025.

The total aggregate insurance proceeds since the original claim submission are approximately $ 39 million.

The proceeds have been recognized as a reduction to Costs of Goods Sold on the Condensed Consolidated Statements of Operations in the periods in which they were received.

As of September 30, 2025, the Company has repurchased a total of 6,313,789 shares of common stock, including 1,068,333 shares withheld to cover tax withholding obligations in connection with the vesting of awards, for an aggregate of $ 194.1 million at a weighted average market price of $ 30.74 per share.

As of September 30, 2025, approximately $ 62.0 million remained available for share repurchases under the current authorization approved by the Company's Board of Directors (the "Board") on February 17, 2023.

During the period October 1, 2025 through October 31, 2025, no additional shares were repurchased for tax withholding obligations or under the currently authorized repurchase program.

As of March 31, 2026, the Company has repurchased a total of 6,386,289 shares of common stock, including 1,140,833 shares withheld to cover tax withholding obligations in connection with the vesting of awards, for an aggregate of $ 195.4 million at a weighted average market price of $ 30.59 per share.

As of March 31, 2026, approximately $ 62.0 million remained available for share repurchases under the current authorization approved by the Company's Board of Directors (the "Board") on February 17, 2023.

During the period April 1, 2026 through May 1, 2026, no additional shares were repurchased for tax withholding obligations or under the currently authorized repurchase program.

Repurchases may be made from time to time on the open market in accordance with Rule 10b-18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including through the use of trading plans intended to qualify under Rule 10b5-1 of the Exchange Act.

The size and timing of these repurchases will depend on pricing, market and economic conditions,

ADVANSIX INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Dollars in thousands, except share and per share amounts and as otherwise noted)

legal and contractual requirements and other factors.

The size and timing of these repurchases will depend on pricing, market and economic conditions, legal and contractual requirements and other factors.

The share repurchase program has no expiration date and may be modified, suspended or discontinued at any time.

1 unchanged sentence

Recent Accounting Pronouncements

ADVANSIX INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Dollars in thousands, except share and per share amounts and as otherwise noted)

Recent Accounting Pronouncements – The Company considers the applicability and impact of all Accounting Standards Updates (“ASUs”) issued by the Financial Accounting Standards Board (“FASB”).

ASUs not discussed below were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated financial position or results of operations.

On December 8, 2025, the FASB issued ASU No.

Interim Reporting (Topic 270), Narrow Scope Improvements.

The amendments in this ASU provide a comprehensive list of interim disclosures that are required by GAAP.

The amendments also clarify the applicability of Topic 270, the types of interim reporting, and the form and content of interim financial statements in accordance with GAAP to enhance consistency in interim reporting for all entities.

The update is effective for interim reporting periods within annual reporting periods beginning after December 15, 2027 for public business entities.

Early adoption is permitted.

The amendments in this update can be applied either prospectively or retrospectively to any or all prior periods presented in the financial statements.

The Company is evaluating the pronouncement and does not expect adoption to have a material impact on its consolidated financial position or results of operations.

On December 4, 2025, the FASB issued ASU No.

Accounting for Government Grants Received by Business Entities.

The amendments in this ASU establish the accounting for a government grant received.

The amendments require that a grant received should not be recognized until (1) it is probable that (a) an entity will comply with conditions attached to the grant and (b) the grant will be received and (2) an entity meets the recognition guidance for a grant related to an asset or to income.

The amendments require that a grant related to an asset be recognized on the balance sheet as the entity incurs the related costs for which the grant is intended to compensate, either as (1) deferred income (the deferred income approach) or (2) an adjustment to the cost basis in determining the carrying amount of the asset (the cost accumulation approach).

A grant related to income and a grant related to an asset for which the deferred income approach is elected should be recognized in earnings on a systematic and rational basis over the periods in which an entity recognizes as expenses the costs for which the grant is intended to compensate.

The amendments require that an entity present a grant related to income and a grant related to an asset for which the deferred income is elected as part of earnings either (1) separately under a general heading such as other income or (2) deducted from the related expense.

In addition, the amendments require that an entity provide disclosures, including the nature of the government grant received, the accounting policies used to account for the grant, and significant terms and conditions of the grant.

For public business entities, this update is effective for annual reporting periods beginning after December 15, 2028, and interim reporting periods within those annual reporting periods.

Early adoption is permitted in both interim and annual reporting periods in which financial statements have not yet been issued or made available for issuance.

The amendments in this ASU require that a business entity apply the guidance using a modified prospective approach, a modified retrospective approach or a retrospective approach to all government grants through a cumulative effect adjustment to the opening balance of retained earnings as of the beginning of the earliest period presented.

The Company is evaluating the pronouncement and does not expect adoption to have a material impact on its consolidated financial position or results of operations.

In August 2025, the FASB issued ASU 2025-05, Financial Instruments – Credit Losses (Topic 326):

6 unchanged sentences

The amendments are effective for annual reporting periods beginning after December 15, 2025, and interim reporting periods within those annual periods.

Early adoption is permitted in any interim or annual period for which financial statements have not yet been issued or made available for issuance.

The Company is currently evaluating the impact of this ASU on its consolidated financial statements and related disclosures.

The Company adopted ASU 2025-05 effective January 1, 2026.

The adoption did not have a material impact on the Company's consolidated financial position or results of operations.

In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40):

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(3) disclose a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively;

and (4) disclose the total amount of selling expense and, in annual reporting periods, an entity's definition of selling expense.

and (4) disclose the total amount of selling expense and, in annual reporting

ADVANSIX INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Dollars in thousands, except share and per share amounts and as otherwise noted)

periods, an entity's definition of selling expense.

The guidance is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027.

2 unchanged sentences

The Company is evaluating the pronouncement and does not expect adoption to have a material impact on the Company's consolidated financial position or results of operations.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740):

Improvements to Income Tax Disclosures.

The amendments in this ASU require that public business entities, on an annual basis, disclose specific categories in the rate reconciliation and provide additional information for reconciling items that are equal to or greater than 5 percent of the amount computed by multiplying pretax income (or loss) by the applicable statutory income tax rate.

The amendments also require that the Company disclose the following (net of refunds received):

(1) the amount of income taxes paid disaggregated by federal (national), state, and foreign taxes and (2) the amount of income taxes paid disaggregated by individual jurisdictions in which income taxes paid is equal to or greater than 5 percent of total income taxes paid.

Additionally, the amendments in this update eliminate the requirement for all entities to disclose the nature and estimate of the range of the reasonably possible change in the unrecognized tax benefits balance in the next 12 months or to make a statement that an estimate of the range cannot be made, and remove the requirement to disclose the cumulative amount of each type of temporary difference when a deferred tax liability is not recognized because of the exceptions to comprehensive recognition of deferred taxes related to subsidiaries and corporate joint ventures.

This pronouncement is effective for annual periods beginning after December 31, 2024 and the required disclosures will be adopted in the Company's Annual Report on Form 10-K for the year ended December 31, 2025.

ADVANSIX INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Dollars in thousands, except share and per share amounts and as otherwise noted)

Revenue Recognition

AdvanSix serves around 390 customers annually, primarily in the United States, spanning a wide variety of industries worldwide.

For the nine months ended September 30, 2025 and 2024, the Company's ten largest customers accounted for approximately 41 % and 38 % of total sales, respectively.

AdvanSix serves approximately 375 customers annually, primarily in the United States, spanning a wide variety of industries worldwide.

For each of the three months ended March 31, 2026 and 2025, the Company's ten largest customers accounted for approximately 38 % of total sales.

We typically sell to customers under master service agreements, with primarily one-year terms, or by purchase orders.

2 unchanged sentences

(“Shaw”), a significant consumer of caprolactam and Nylon 6 resin, to whom we sell under a long-term agreement.

For the three months ended September 30, 2025 and 2024, the Company's sales to Shaw were 12 % and 10 % of our total sales, respectively.

For the nine months ended September 30, 2025 and 2024, the Company's sales to Shaw were 10 % and 9 % of our total sales, respectively.

The Company's revenue by product line, and related approximate percentage of total sales, for the three and nine months ended September 30, 2025 and 2024 were as follows:

For the three months ended March 31, 2026 and 2025, the Company's sales to Shaw were 9 % and 10 % of our total sales, respectively.

The Company's revenue by product line, and related approximate percentage of total sales, for the three months ended March 31, 2026 and 2025 were as follows:

Three Months Ended

September 30, Nine Months Ended

September 30,

2025 2024* 2025 2024*

Nylon $ 88,467 22 % $ 88,369 23 %

3 unchanged sentences

Total $ 404,183 100 % $ 377,791 100 %

* The Company transferred certain products between its Chemical Intermediates product line and its Plant Nutrients product line to align more closely with its current sales structure.

Historical information has been reclassified to reflect these changes for all periods presented in the Consolidated Financial Statements.

Total revenue amounts were not impacted for either period.

The Company's revenues by geographic area, and related approximate percentage of total sales, for the three and nine months ended September 30, 2025 and 2024 were as follows:

The Company's revenues by geographic area, and related approximate percentage of total sales, for the three months ended March 31, 2026 and 2025 were as follows:

Three Months Ended

September 30, Nine Months Ended

September 30,

2025 2024 2025 2024

United States $ 335,996 83 % $ 320,447 85 %

1 unchanged sentence

Total $ 404,183 100 % $ 377,791 100 %

* Predominantly Latin America and Canada.

* Predominantly Latin America, EMEA and Canada.

Deferred Income and Customer Advances

The Company defers revenues when cash payments are received in advance of our performance.

Below is a roll-forward of Deferred income and customer advances for the nine months ended September 30, 2025:

Below is a roll-forward of Deferred income and customer advances for the three months ended March 31, 2026:

Opening balance January 1, 2026 $ 14,536

1 unchanged sentence

Less amounts recognized in revenues ( 3,233 )

Ending balance September 30, 2025 $ 681

The Company expects to recognize as revenue the September 30, 2025 ending balance of Deferred income and customer advances within one year or less.

Earnings Per Share

Ending balance March 31, 2026 $ 11,303

ADVANSIX INC.

1 unchanged sentence

(Dollars in thousands, except share and per share amounts and as otherwise noted)

The Company expects to recognize as revenue the March 31, 2026 ending balance of Deferred income and customer advances which are predominantly driven by our ammonium sulfate pre-buy program, within one year or less.

Earnings Per Share

The computation of basic and diluted earnings per share ("EPS") is based on Net income (loss) divided by the basic weighted average number of common shares outstanding an d, where appropriate, dilu ted weighted average number of common shares outstanding, respectively.

The details of the basic and diluted EPS calculations for the three and nine months ended September 30, 2025 and 2024 were as follows:

The details of the basic and diluted EPS calculations for the three months ended March 31, 2026 and 2025 were as follows:

Three Months Ended

September 30, Nine Months Ended

September 30,

2025 2024 2025 2024

Net income (loss) $ ( 15,546 ) $ 23,344

6 unchanged sentences

Where appropriate, the diluted EPS calculations exclude the effect of stock options when the options’ assumed proceeds exceed the average market price of the common shares during the period.

The anti-dilutive common stock equivalents outstanding at the three and nine months ended September 30, 2025 and 2024 were as follows:

The anti-dilutive common stock equivalents outstanding at the three months ended March 31, 2026 and 2025 were as follows:

Three Months Ended

September 30, Nine Months Ended

September 30,

2025 2024 2025 2024

Options and stock equivalents 853,891 684,374

Dividend activity for the three and nine months ended September 30, 2025 and 2024 was as follows:

Dividend activity for the three months ended March 31, 2026 and 2025 was as follows:

Three Months Ended

September 30, Nine Months Ended

September 30,

2025 2024 2025 2024

Cash dividends declared per share $ 0.16 $ 0.16

1 unchanged sentence

Accounts and Other Receivables – Net

September 30,

2026 December 31,

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(Dollars in thousands, except share and per share amounts and as otherwise noted)

September 30,

2026 December 31,

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Total inventories $ 201,358 $ 236,495

Substantially all of the Company’s inventories at September 30, 2025 and December 31, 2024 are valued at the lower of cost or market using the last-in, first-out (“LIFO”) method.

However, approximately 6 % was valued at average cost using the first-in, first-out (“FIFO”) method at September 30, 2025.

The excess of replacement cost over the carrying value of total inventories subject to LIFO was $ 78.2 million and $ 57.5 million at September 30, 2025 and December 31, 2024, respectively.

Substantially all of the Company’s inventories at March 31, 2026 and December 31, 2025 are valued at the lower of cost or market using the last-in, first-out (“LIFO”) method.

However, approximately 5 % was valued at average cost using the first-in, first-out (“FIFO”) method at March 31, 2026.

The excess of replacement cost over the carrying value of total inventories subject to LIFO was $ 68.2 million and $ 61.3 million at March 31, 2026 and December 31, 2025, respectively.

The Company determines if an arrangement is a lease at inception.

3 unchanged sentences

Three Months Ended

September 30, Nine Months Ended

September 30,

2025 2024 2025 2024

Finance lease cost:

5 unchanged sentences

Total lease cost $ 15,456 $ 14,169

As of September 30, 2025, we have no additional operating or finance leases that have not yet commenced.

As of March 31, 2026, we have no additional operating or finance leases that have not yet commenced.

Goodwill and Intangible Assets

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Customer relationships and trade-names are amortized on a straight-line basis over their expected useful lives of 15 to 20 years and 5 years, respectively.

There was no change in the carrying amount of goodwill for the nine months ended September 30, 2025.

Finite-Lived Intangible Assets

Intangible assets subject to amortization were as follows:

There was no change in the carrying amount of goodwill for the three months ended March 31, 2026.

To determine if goodwill is potentially impaired, we may perform either a qualitative assessment to determine whether it is more likely than not that the fair value is less than the carrying value or a quantitative assessment.

The Company most recently performed a qualitative assessment in the fourth quarter of 2025 whereby we considered the enterprise value from the previous quantitative test (including the underlying excess fair value over carrying value), macroeconomic conditions (including changes in interest and discount rates), industry and market considerations, recent and projected financial performance, as well as other factors.

The Company concluded that it was not more likely than not that an impairment of the goodwill balances existed.

ADVANSIX INC.

1 unchanged sentence

(Dollars in thousands, except share and per share amounts and as otherwise noted)

September 30, 2025 December 31, 2024

Our qualitative analysis reflects our best estimates of the impacts of the cyclical nature of the industries in which we operate, as well as the cycles of fluctuating supply and demand for each of our products resulting in changes in selling prices and margins.

It is possible that in the future there may be changes in industry trends, estimates and assumptions, including the timing and amount of future cash flows, margins, growth rates, market participant assumptions, comparable benchmark companies and related multiples and discount rates, which could impact estimates of fair value.

Significant and adverse changes to any one or more of the above-noted estimates and assumptions could result in an impairment.

Finite-Lived Intangible Assets

Intangible assets subject to amortization were as follows:

March 31, 2026 December 31, 2025

Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value

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Total $ 56,371 $ ( 17,038 ) $ 39,333 $ 56,371 $ ( 16,276 ) $ 40,095

For each of the three months ended September 30, 2025 and September 30, 2024, the Company recorded amortization expense on intangible assets of $ 0.8 million.

For each of the nine months ended September 30, 2025 and September 30, 2024, the Company recorded amortization expense on intangible assets of $ 2.3 million.

For each of the three months ended March 31, 2026 and March 31, 2025, the Company recorded amortization expense on intangible assets of $ 0.8 million.

Commitments and Contingencies

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Although we have ongoing environmental remedial obligations at certain of our facilities, in the past three years, the associated remediation costs have not been material, and we do not expect our known remediation costs to have a material adverse effect on the Company's consolidated financial position or results of operations.

The provision (benefit) for income taxes was ($ 0.9 million) and $ 7.5 million for the three months ended September 30, 2025 and 2024, respectively, resulting in an effective tax rate of 25.6 % and 25.1 %, respectively.

The provision for income taxes was $ 5.0 million and $ 14.6 million for the nine months ended September 30, 2025 and 2024, respectively, resulting in an effective tax rate of 8.7 % and 25 %, respectively.

The Company’s provision (benefit) for income taxes in interim periods is computed by applying an estimated annual effective tax rate against Income (loss) before taxes for the period in addition to recording any tax effects of discrete items for the quarter.

The Company’s effective tax rate for the three and nine months ended September 30, 2025 and 2024 differed from the U.S.

federal statutory rate due to state taxes and executive compensation deduction limitations which generally increase the rate, offset by research tax credits and the foreign-derived intangible income deduction that generally decrease the rate.

During the nine months ended September 30, 2025, discrete tax adjustments recorded relating to Internal Revenue Code (IRC) Section 45Q tax credits of $ 9.7 million and return to provision adjustments related to the filing of the Company's 2024 U.S.

federal income tax return of $ 0.2 million, offset slightly by state tax legislation changes and the vesting of equity compensation, resulted in a net 5 % increase and 17 % decrease to the estimated annual effective tax rate for the three and nine months ended

The provision (benefit) for income taxes was ($ 5.1 million) and $ 5.6 million for the three months ended March 31, 2026 and 2025, respectively, resulting in an effective tax rate of 24.8 % and 19.3 %, respectively.

ADVANSIX INC.

1 unchanged sentence

(Dollars in thousands, except share and per share amounts and as otherwise noted)

September 30, 2025, respectively.

In 2024, the Company recorded discrete tax adjustments related to the vesting of equity compensation, changes to state tax legislation, and return to provision adjustments related to the filing of the Company's 2023 U.S.

federal income tax return which resulted in a net 3.3 % and 1.5 % increase to the estimated annual effective tax rate for the three and nine months ended September 30, 2024, respectively.

On July 4, 2025, President Trump signed into law legislation commonly referred to as the One Big Beautiful Bill Act (the "Act"), which includes numerous tax provisions affecting businesses, including the reinstatement of full expensing of domestic research and experimental expenditures, modification of the limitation on business interest and making permanent full expensing for certain business property.

These provisions resulted in an approximate $ 10 million reduction in cash taxes in our financial results for the three and nine months ended September 30, 2025, however due to the elective applicability of these provisions, we continue to evaluate the full impact and timing that these provisions will have on our financial results.

The Company’s effective tax rate for the three months ended March 31, 2026 and 2025 differed from the U.S.

federal statutory rate due to state taxes and executive compensation deduction limitations which generally increase the rate, offset by research tax credits and the foreign-derived deduction eligible income (FDDEI) deduction (formerly known as the foreign-derived intangible income (FDII) deduction) that generally decrease the rate.

During the three months ended March 31, 2025, discrete tax adjustments recorded in the quarter related to Internal Revenue Code (IRC) Section 45Q tax credits of $ 1.8 million, offset slightly by state tax legislation changes, resulted in a net 5.8 % decrease on the rate.

On July 4, 2025, the One Big Beautiful Bill Act (the "Act") was enacted into law which includes numerous tax provisions affecting businesses, including the reinstatement of full expensing of domestic research and experimental expenditures, modification of the limitation on business interest and making permanent full expensing for certain business property.

Several of the major business provisions in the Act became effective in 2025 while other business tax changes are effective for the 2026 tax year.

The major business provisions in the Act reduced our cash taxes in 2025 and are expected to reduce our cash taxes in 2026 and future periods.

Supplier Finance Programs

3 unchanged sentences

All related agreements are terminable by either party upon at least 30 days’ notice.

The total amount due to the financial intermediary to settle supplier invoices under the Company's supply chain finance program was approximately $ 5.8 million as of September 30, 2025 and approximately $ 19.2 million as of December 31, 2024.

The total amount due to the financial intermediary to settle supplier invoices under the Company's supply chain finance program was approximately $ 11.0 million as of March 31, 2026 and approximately $ 9.0 million as of December 31, 2025.

These amounts outstanding are included in Accounts payable .

16 unchanged sentences

(Dollars in thousands, except share and per share amounts and as otherwise noted)

Three Months Ended September 30, Nine Months Ended September 30,

2025 2024 2025 2024

Three Months Ended March 31,

Revenue $ 404,183 $ 377,791

4 unchanged sentences

Other segment items ** ( 326 ) 8,879

Segment net income (loss) $ ( 2,638 ) $ 22,266 $ 52,077 $ 43,797

Segment net income $ ( 15,546 ) $ 23,344

*Variable costs of goods sold includes the raw material costs associated with volumes sold during the period as well as insurance settlement proceeds, when applicable.

1 unchanged sentence

Subsequent Events

As announced on November 7, 2025, the Board declared a quarterly cash dividend of $ 0.16 per share on the Company's common stock, payable on December 2, 2025 to stockholders of record as of the close of business on November 18, 2025.

Amendment to Credit Agreement

On October 23, 2025, the Company entered into Amendment No.

2 (the “Amendment”) to the Credit Agreement, dated as of October 27, 2021 (as amended by Amendment No.

1, dated June 27, 2023, the “Credit Agreement” and as further amended by the Amendment, the “Amended Credit Agreement”), among the Company, the guarantors, the lenders party thereto and Truist Bank, as administrative agent.

The Credit Agreement includes a senior secured revolving credit facility with aggregate commitments of $ 500 million (the “Revolving Credit Commitments”).

Pursuant to the Amendment, the Credit Agreement was amended to, among other things:

(i) extend the maturity date of revolving credit commitments of participating Revolving Credit Lenders in an aggregate principal amount of $ 452 million to the earlier of (x) October 27, 2027 and (y) the date of the termination in whole of the Revolving Credit Commitments, pursuant to the terms of the Amended Credit Agreement, and (ii) effect certain other conforming changes and modifications consistent with the foregoing.

The remaining $ 48 million of revolving credit commitments under the Credit Agreement that were not extended will continue to mature on the earlier of (x) October 27, 2026 and (y) the date of the termination in whole of the Revolving Credit Commitments, pursuant to the terms of the Amended Credit Agreement.

As announced on May 8, 2026, the Board declared a quarterly cash dividend of $ 0.16 per share on the Company's common stock, payable on June 2, 2026 to stockholders of record as of the close of business on May 19, 2026.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements