Axiall Corporation today announced financial results for the quarter endedSeptember 30, 2013.

Axiall reported net sales of $1.2 billion for the third quarter of 2013, compared to net sales of $813.5 million for the third quarter of 2012. The company reported Net income attributable to Axiall of $39.0 million, or $0.55 per diluted share, for the third quarter of 2013, compared to Net income attributable to Axiall of $39.3 million, or $1.12 per diluted share, for the third quarter of 2012. The company reported Adjusted Net Income of $68.3 million and Adjusted Earnings per Share of $0.97 for the third quarter of 2013, compared to Adjusted Net Income of $47.5 million, and Adjusted Earnings per Share of $1.37, for the third quarter of 2012. The company reported Adjusted EBITDA of $175.0 million for the third quarter of 2013, compared to Adjusted EBITDA of $106.7 million for the same quarter in the prior year.

“In our chemicals business, the energy advantage continued to support strong export demand and, as previously identified, the merged organization is focused on leveraging the combined assets to achieve synergy objectives and take advantage of our diverse portfolio – particularly serving the merchant chlorine, derivatives and vinyls markets,” said Paul Carrico, president and chief executive officer. “With these efforts, we achieved a significant milestone by surpassing our year-one synergy target of a $60 million run rate after just three quarters. We now are focused on leveraging this flexibility and our strong operating rates to create synergies in excess of our year-end 2014 target of $115 million.

“We continue to be encouraged by the North American advantage in energy and the increasing evidence of a U.S. housing recovery. During the third quarter, our building products business grew sales volume 10 percent and expanded margins,” Carrico said.

Chlorovinyls

In the Chlorovinyls segment, third quarter 2013 net sales were $750.0 million compared to $329.1 million during the third quarter of 2012. The increase in net sales was primarily driven by the sales contributed by the merged business. The segment posted Adjusted EBITDA of $151.5 million in the third quarter of 2013, compared to Adjusted EBITDA of $84.7 million for the same quarter in the prior year. The $66.8 million increase in Adjusted EBITDA was primarily due to the contribution from the merged business, partially offset by higher energy, feedstock and maintenance costs.

Building Products

In the Building Products segment, net sales were $253.4 million for the third quarter of 2013, compared to $246.2 million for the same quarter in the prior year. The net sales increase was driven by a 26-percent increase in U.S. sales volume, partially offset by a 3-percent decrease in sales volume in Canada. The third quarter of 2013 also includes a $24.9 million non-cash goodwill and intangibles impairment charge related to our window and door profiles business as well as a $2.9 million restructuring charge related to plant footprint reductions. The segment's Adjusted EBITDA was $31.1 million for the third quarter of 2013, compared to $24.9 million of Adjusted EBITDA during the same quarter of the prior year. The $6.2 million increase was primarily due to higher sales volumes, improved conversion costs, and lower selling, general and administrative costs.

Aromatics

In the Aromatics segment, net sales decreased to $194.1 million for the third quarter of 2013 from $238.2 million for the third quarter of 2012, due primarily to lower cumene sales volumes, partially offset by higher cumene and acetone sales prices. During the third quarter of 2013, the segment recorded Adjusted EBITDA of $5.5 million, compared to Adjusted EBITDA of $11.4 million during the same quarter in 2012. The decrease was primarily due to lower domestic and export sales volumes.