Innophos issues interim Q3 results and lowers FY18 guidance; shares down ~12% [Seeking Alpha]
INNOPHOS HOLDINGS (IPHS)
Last innophos holdings earnings: 11/6 07:30 am
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US:NASDAQ Investor Relations:
ir.innophos.com/investor-relations
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Source: Seeking Alpha
Innophos ( IPHS ) expects H2 sales to decrease as compared to H1, due to lower-than-expected nutrition sales driven by discontinuation of a portion of trading business ahead of plan Anticipates Q3 sales to be ~197M and adjusted EBITDA of $30M-$32M IPHS downsizes FY18 guidance and expects sales to reach ~$722M (up 10% to 12% Y/Y as compared to previous sales growth guidance of 12%-14%); adjusted EBITDA is expected to grow 3% to 7% (previously 15% to 17%) Further, the Company announces its plans to finalize a sale lease-back transaction during Q4 on a non-core asset for ~$20M, which along with previously announced $20M Nutrien payment is expected to generate ~$40M of positive cash flow in Q4 Click to subscribe to real-time analytics on IPHS Now read: Ferroglobe, Hi-Crush And Ternium Top Basic Materials September Dividend WallStars Per Broker Targets » Subscribe for full text news in your inbox
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