Quarterly report [Sections 13 or 15(d)]

Industry Segments

v3.25.2
Industry Segments
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Industry Segments Industry Segments
Ascent Industries Co. has one reportable segment: Specialty Chemicals. The Specialty Chemicals segment includes the operating results of the Company’s plants involved in the production of specialty chemicals and produces critical ingredients and process aids for the oil & gas, household, industrial and institutional ("HII"), personal care, coatings, adhesives, sealants and elastomers (CASE), pulp and paper, textile, automotive, agricultural, water treatment, construction and other industries.

The chief executive officer, who is also the chief operating decision maker (CODM), evaluates performance and determines resource allocations based on a number of factors, the primary measures being gross margin and segment net income (loss).

The accounting principles applied at the operating segment level are the same as those applied at the consolidated financial statement level. The significant expense categories and amounts below align with the segment-level information that is regularly provided to the CODM. Intersegment sales and transfers are eliminated at the corporate consolidation level.
The following table summarizes certain information regarding segments of the Company's continuing operations:
Three Months Ended June 30, 2025 Six Months Ended June 30, 2025
(in thousands) Specialty Chemicals
Corporate & Other1
Total Continuing Operations Specialty Chemicals
Corporate & Other1
Total Continuing Operations
Net sales $ 18,652  $ —  $ 18,652  $ 36,486  $ —  $ 36,486 
Cost of goods sold - material 8,814  —  8,814  17,177  —  17,177 
Cost of goods sold - other2
5,651  (679) 4,972  11,376  —  11,376 
Gross profit 4,187  679  4,866  7,933  —  7,933 
Selling, general and administrative expense3
2,672  3,772  6,444  5,572  5,743  11,315 
Acquisition costs and other —  31  31  92  176  268 
Asset impairments —  1,622  1,622  —  1,622  1,622 
Gain on lease modification —  (544) (544) —  (544) (544)
Interest expense, net 16  (31) (15) 32  67  99 
Income taxes —  (89) (89) —  (89) (89)
Other expense (income) —  (136) (136) —  (285) (285)
Net income (loss) $ 1,499  $ (3,946) $ (2,447) $ 2,237  $ (6,690) $ (4,453)

Three Months Ended June 30, 2024 Six Months Ended June 30, 2024
(in thousands) Specialty Chemicals
Corporate & Other1
Total Continuing Operations Specialty Chemicals
Corporate & Other1
Total Continuing Operations
Net sales $ 21,468  $ —  $ 21,468  $ 41,764  $ —  $ 41,764 
Cost of goods sold - material 11,183  —  11,183  21,729  —  21,729 
Cost of goods sold - other2
7,367  105  7,472  15,566  270  15,836 
Gross profit 2,918  (105) 2,813  4,469  (270) 4,199 
Selling, general and administrative expense3
2,489  2,115  4,604  5,479  5,005  10,484 
Acquisition costs and other —  52  52  —  52  52 
Interest expense, net 20  52  72  39  160  199 
Income taxes —  (372) (372) —  (1,393) (1,393)
Other expense (income) —  (93) (93) —  (212) (212)
Net income (loss) $ 409  $ (1,859) $ (1,450) $ (1,049) $ (3,882) $ (4,931)
As of
(in thousands) June 30, 2025 December 31, 2024
Identifiable assets
Specialty Chemicals $ 38,967  $ 38,928 
Corporate and other 83,613  46,298 
$ 122,580  $ 85,226 
1All Other includes corporate overhead expenses and ongoing expenses for properties under the Master Lease not assigned to a segment in which the Company is the responsible party.
2Cost of good sold - other includes manufacturing labor and overhead expenses, depreciation expense, repair and maintenance expense, shipping expense, scrap and shrinkage expense, and other operational manufacturing overhead expenses.
3Selling, general and administrative expenses include sales and administrative salaries, wages and benefits and overhead expenses, professional fees, depreciation and amortization expense, corporate overhead allocation expense and other administrative overhead expenses.