ICL Group Ltd ICL recorded income of $113 million or 9 cents per share in third-quarter 2024, down from $137 million or 11 cents within the year-ago quarter. Barring one-time gadgets, adjusted earnings per share have been 11 cents. The underside line beat the Zacks Consensus Estimate of 8 cents.
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Gross sales fell round 6% yearly to $1,753 million within the quarter. The determine beat the Zacks Consensus Estimate of $1,732.7 million.
ICL Group Ltd. Value, Consensus and EPS Shock
ICL Group Ltd. price-consensus-eps-surprise-chart | ICL Group Ltd. Quote
ICL’s Phase Highlights
Gross sales within the Industrial Merchandise section rose 16% yr over yr to $309 million within the quarter. EBITDA went up roughly 55% yr over yr to $65 million. The outcomes have been pushed by market share beneficial properties in flame retardants.
Gross sales within the Potash section dropped round 26% yr over yr to $389 million within the reported quarter. EBITDA additionally fell 27% yr over yr to $120 million. Potash costs and gross sales volumes declined yr over yr within the quarter.
The Phosphate Options section’s gross sales fell 3% yr over yr to $577 million. EBITDA rose 19% yr over yr to $140 million.
Gross sales within the Rising Options section declined 2% yr over yr to $538 million within the quarter. EBITDA climbed round 73% from the identical quarter final yr to $64 million.
ICL Group’s Financials
On the finish of the quarter, ICL had money and money equivalents of $393 million, up round 28% yr over yr. Lengthy-term debt was $1,845 million, down almost 7% yr over yr.
Internet money supplied by working actions was $408 million within the reported quarter.
ICL’s Steering
ICL raised its steering for full-year 2024 and now sees specialties-driven EBITDA of between $0.95-$1.05 billion. This marks a rise from the earlier steering of $0.8-$1 billion. ICL plans to restrict its whole annual potash gross sales volumes for this yr to 4.6 million metric tons, which is in step with 2023 gross sales volumes.
Whereas the corporate nonetheless faces headwinds associated to geopolitical uncertainties, it stays targeted on creating its modern product portfolio pipeline and executing focused price and effectivity efforts.
ICL Inventory’s Value Efficiency
ICL’s shares have misplaced 12.7% prior to now yr in contrast with the Zacks Fertilizers trade’s 13.8% decline.
Picture Supply: Zacks Funding Analysis
ICL’s Zacks Rank & Different Fundamental Supplies Releases
ICL presently carries a Zacks Rank #3 (Maintain). You may see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DuPont de Nemours, Inc. DD logged adjusted earnings of $1.18 per share within the third quarter, topping the Zacks Consensus Estimate of $1.04. DD raised its full-year 2024 projections for working EBITDA and adjusted earnings per share.
The Chemours Firm CC recorded adjusted earnings of 40 cents for the third quarter, topping the Zacks Consensus Estimate of 32 cents. CC expects consolidated web gross sales to say no within the mid to high-single digits sequentially within the fourth quarter. Consolidated adjusted EBITDA is forecast to be down within the excessive teenagers to low 20% vary in contrast with third-quarter 2024 outcomes.
PPG Industries, Inc. PPG logged third-quarter adjusted earnings per share of $2.13, lacking the Zacks Consensus Estimate of $2.15. PPG anticipates flat natural gross sales and adjusted earnings per share on the backside finish of the $8.15 to $8.30 vary for full-year 2024.
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