Axiall Corporation announced Monday financial results for the quarter ended March 31, 2014.

The company reported net sales of $993.7 million for the first quarter of 2014, compared to net sales of $1.1 billion reported for the first quarter of 2013. The company reported a Net loss attributable to Axiall of $11.6 million, or $0.17 loss per diluted share, for the first quarter of 2014, compared to Net loss attributable to Axiall of $3.5 million, or $0.06 loss per diluted share, for the first quarter of 2013. The company reported an Adjusted Net Loss of $5.3 million and Adjusted Loss per Share of $0.08 for the first quarter of 2014, compared to Adjusted Net Income of $45.1 million and Adjusted Earnings per Share of $0.75 for the first quarter of 2013. The company reported Adjusted EBITDA of $67.6 million for the first quarter of 2014, compared to Adjusted EBITDA of $133.4 million for the first quarter of the prior year.

“Our first quarter results were challenged by the unusually cold weather and the outage at our PHH VCM facility,” said Paul Carrico, president and chief executive officer. “As we move into the second quarter, we expect the typical building products business seasonality and warmer weather to lead to improvement in demand, pricing and costs in our businesses. We have restarted the PHH VCM facility and expect to reach full operating rates later this quarter. Additionally, we remain focused on meeting our run rate synergy target of $140 million by the end of this year.”

Chlorovinyls

In the Chlorovinyls segment, first quarter 2014 net sales were $682.2 million compared to $614.5 million during the first quarter of 2013. The increase in net sales was primarily driven by inclusion of 3 months of sales results from the PPG chemicals business we acquired in January 2013 in the first quarter of 2014 compared to 2 months in the first quarter of 2013, partially offset by lower vinyls operating rates and vinyls sales volumes attributable to the outage at the company’s PHH VCM manufacturing facility as well as operating and logistical impacts of severe weather during the period. The segment posted Adjusted EBITDA of $76.2 million in the first quarter of 2014, compared to Adjusted EBITDA of $134.2 million for the same quarter in the prior year. The $58.0 million decrease in Adjusted EBITDA was primarily due to higher natural gas and maintenance costs, lower electrochemical unit (ECU) values, and the lower operating rates primarily driven by the outage at our PHH VCM manufacturing facility and the impact of severe weather on operating rates and logistics.

Building Products

In the Building Products segment, net sales were $154.7 million for the first quarter of 2014, compared to $162.2 million for the same quarter in the prior year. The net sales decrease was driven by the impact of a weaker Canadian dollar coupled with a 3 percent decrease in sales volume in Canada, partially offset by a 13 percent increase in U.S. sales volume. On a constant currency basis, net sales for the quarter decreased by 1 percent. The segment reported breakeven Adjusted EBITDA for the first quarter of 2014, compared to negative $2.6 million of Adjusted EBITDA during the same quarter of the prior year. The $2.6 million increase was primarily due to improved conversion costs and lower selling, general and administrative costs.

Aromatics

In the Aromatics segment, net sales decreased to $156.8 million for the first quarter of 2014 from $284.5 million for the first quarter of 2013. During the first quarter of 2014, the segment recorded Adjusted EBITDA of $4.9 million, compared to Adjusted EBITDA of $13.3 million during the same quarter in 2013. The decreases in sales and Adjusted EBITDA were primarily due to lower export sales volumes of phenol driven by significant new phenol capacity additions in Asia during 2013, which also resulted in lower domestic cumene sales volume.