ICL reports Q324 results
Published by Emilie Grant,
Editorial Assistant
World Fertilizer,
ICL, a global specialty minerals company, has reported its financial results for Q324 ended September 30, 2024. Consolidated sales were US$1.75 billion vs US$1.86 billion in the prior year. Operating income was US$214 million, with adjusted operating income of US$243 million, vs US$227 million of operating income in the third quarter of last year. Adjusted EBITDA was US$383 million vs US$346 million. Diluted earnings per share were US$0.09, with adjusted diluted EPS of US$0.11, vs US$0.11 in the third quarter of last year.
“ICL delivered another sequential increase in EBITDA, as well as vs the prior year, marking four consecutive quarters of improvement, despite lower potash prices. All three of the specialties-driven businesses showed significant year-over-year improvement in EBITDA, demonstrating the strength of our strategy and our ability to consistently deliver strong cash generation,” said Raviv Zoller, president and CEO of ICL. “While we are still facing some challenges related to geopolitical uncertainties, we remain focused on developing our product portfolio pipeline and executing targeted cost and efficiency efforts.”
The company raised its guidance for full year 2024 and now expects specialties-driven EBITDA of between US$0.95 billion to US$1.05 billion, an increase from previous guidance of US$0.8 billion to US$1.0 billion. The company intends to limit its total 2024 annual potash sales volumes to 4.6 million t, already committed, which is in-line with 2023 sales volumes and in expectation of improved conditions in 2025.
Read the article online at: https://www.worldfertilizer.com/project-news/11112024/icl-reports-q324-results/
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