Ascent Industries Co (OQ:ACNT)
Business Focus: Steel
| Sector: Basic Materials | Industry: Steel |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 1400 16Th Street, Suite 270 OAK BROOK IL 60523 |
| Tel: | N/A |
| Website: | https://ascentco.com |
| IR: | See website |
| Key People | ||
| Benjamin Rosenzweig Executive Chairman of the Board | J. Bryan Kitchen Chief Executive Officer, Director | Ryan Kavalauskas Chief Financial Officer |
| Business Overview |
| Ascent Industries Co. is a diverse industrials company. The Company is focused on the production of stainless-steel pipe and tube and specialty chemicals. The Company's business is divided into two reportable operating segments, Tubular Products and Specialty Chemicals. The Tubular Products segment serves markets through pipe and tube production and customers in the appliance, architectural, automotive, and commercial transportation, brewery, chemical, petrochemical, pulp and paper, mining, power generation (including nuclear), water and waste-water treatment, liquid natural gas (LNG), food processing, pharmaceutical, oil and gas and other industries. The Specialty Chemicals segment produces specialty products for the pulp and paper, coatings, adhesives, sealants, and elastomers (CASE), textile, automotive, household, industrial and institutional (HII), agricultural, water and waste-water treatment, construction, oil and gas and other industries. |
| Financial Overview |
| For the 13 weeks ended 31 March 2024, Ascent Industries Co revenues decreased 20% to $44.1M. Net loss before extraordinary items decreased 29% to $4.1M. Revenues reflect Tabular Products segment decrease of 23% to $23.8M, Specialty Chemicals segment decrease of 15% to $20.3M. Lower net loss reflects Tabular Products segment loss decrease of 54% to $1.5M, Unallocated Corporate Expense segment loss decrease of 42% to $2.2M. |
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