Quarterly ResultMay 6, 2026, 05:12 PM
Ascent Industries Q1 Net Sales $19.4M, Net Loss $(1.98)M; Repurchases $3.9M Shares
AI Summary
Ascent Industries Co. reported an 8.86% increase in net sales to $19.4 million for the first quarter of 2026, compared to $17.8 million in the prior year period. The company's net loss improved by 13.65% to $(1.98) million, or $(0.21) per basic share, from a net loss of $(2.29) million, or $(0.23) per basic share, in Q1 2025. Despite the sales growth and improved net loss, gross profit declined by 8.38%, and net cash used in operating activities significantly increased to $(5.43) million. The company also repurchased $3.93 million of common stock during the quarter and maintained no outstanding debt under its credit facilities.
Key Highlights
- Net sales for Q1 2026 increased 8.86% to $19.4 million from $17.8 million in Q1 2025.
- Net loss for Q1 2026 improved 13.65% to $(1.98) million from $(2.29) million in Q1 2025.
- Basic net loss per share improved to $(0.21) in Q1 2026 from $(0.23) in Q1 2025.
- Gross profit decreased 8.38% to $2.81 million in Q1 2026 from $3.07 million in Q1 2025.
- Net cash used in operating activities increased to $(5.43) million from $(0.70) million in Q1 2025.
- Repurchased 295,695 common shares for $3.93 million during Q1 2026.
- No debt outstanding under credit facilities as of March 31, 2026, with $14.2 million availability.