Incitec Pivot Confirms Weak, Weather Plagued Result
As expected a combination of factors from drought, flooding rains higher gas prices and plant outages drove net earnings of Incitec Pivot (IPL) down 56% in the year to September 30.
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Assessing Incitec Pivot As A Turnaround Story
Early last month, Incitec Pivot (ASX:IPL) announced a strategic review into its Fertiliser segment, which could result in IPL becoming purely an explosives company. This would be a clear positive for IPL shares on a number of fronts. However, there are a number of other fundamental drivers that are equally important in any potential re-rating.
Read MoreMining Services Companies Follow The Major Miners
A collection of mining services companies beginning to experience some attractive breakouts that point to these flow-on affects from mining activity translating to a sustained increase in earnings.
Read MoreIPL – Citi rates the stock as Buy
Given the bullish outlook for demand for ammonium nitrate, the company is committed to a further 15% expansion of the Moranbah output by FY22.
Read MoreIPL – Citi rates the stock as Buy
Citi analysts had already concluded the risk-reward proposition for owning this stock had turned favourably again, post share market sell-off that followed another profit warning by the company. Since then the analysts attended what they label an “upbeat” Investor Day.
Read MoreIncitec Pivot Mulls Fertiliser Strategy
Ahead of an investor briefing, Incitec Pivot has downgraded guidance for FY19 and flagged a strategic review of its Australian fertiliser business.
Read MoreIPL – Credit Suisse rates the stock as Outperform
The company has downgraded guidance again for FY19 and pulled forward a strategic review of the fertiliser business. Credit Suisse was not surprised by the drought-driven downgrade but further plant downtime at the Louisiana plant is of concern.
Read MoreIncitec Pivot Downgrades Outlook, Eyes Fertiliser Sale
The impact of the drought has driven Incitec Pivot (IPL) to review the future ownership of its Asia Pacific fertilisers business after it again slashed full-year earnings guidance.
Read MoreIncitec Pivot Secures Gas Lifeline For Gibson Island
Fertiliser and explosives maker, Incitec Pivot Limited (IPL) has finally found a deal to keep its Gibson Island in Brisbane open. The new gas supply deal will keep the fertiliser plant open until at least the end of 2022.
Read MoreIPL – Macquarie rates the stock as Outperform
The broker notes Incitec Pivot’s PE discount to peer Orica ((ORI)) is now the largest in a decade, leading the broker to favour the former over the latter.
Read MoreIncitec Pivot Result Marred By ‘One-Off” Hits
Drought, floods and smaller problems helped produce more than $140 million of significant one-off items which more than halved the earnings of fertiliser and chemicals manufacturer Incitec Pivot (IPL).
Read MoreIncitec Pivot Issues Brushed Aside
Incitec Pivot has provided further detail on the financial impact of the myriad problems impacting in FY19. These are mostly considered one-off issues and a better FY20 is expected.
Read MoreIPL – UBS rates the stock as Neutral
The company has provided more clarity regarding the financial impact of outages from the Mount Isa rail line flooding and manufacturing issues in Louisiana. Additionally, distribution volumes are lower in Australian fertiliser because of the drought.
Read MoreIncitec Pivot Battered By Bad Weather
Fertiliser and explosives group, Incitec Pivot (IPL) has warned of another $33 million hit to earnings from the drought the decision to close a phosphate factory in western Victoria.
Read MoreIPL – UBS rates the stock as Neutral
UBS has cut Incitec Pivot’s forecast earnings by -20% in FY19 due to damage caused in the floods to the rail line linking the company’s Phosphate Hill ammonia plant in Mt Isa to the port at Townsville.
Read MoreFlood Damaged Incitec Pivot Downgrades Outlook
Incitec Pivot is heading for a miserable 2018-19, especially for the first half to March 31.
Read MorePlant Outages Hit Incitec Pivot Profit
Shares in fertiliser and explosives group, Incitec Pivot fell more than 8% yesterday after the company revealed a $45 million hit to full 2018-19 profit from surprise operational problems at its plants in both Australia and the US.
Read MoreABARES Cuts Crop Forecasts Again
The East Coast drought – now dipping into Victoria and the dry emerging parts of southern Western Australia – has seen Australia again cut its 2018-19 wheat harvest estimate to where it is now forecast to be the lowest since the GFC and the last big drought in 2008.
Read MoreDyno Nobel Damages Incitec Pivot Profit
Shares in Incitec Pivot nearly 8% yesterday in the wake of what turned out to be disappointing full-year figures – even though final and full year dividends were boosted.
Read MoreIPL – Morgan Stanley rates the stock as Equal-weight
The company has outlined a strategy for growth in both the explosives and fertiliser businesses. Morgan Stanley believes the explosives business has the first call on capital to expand into end market and/or adjacent geographies.
Read MoreIPL – Deutsche Bank rates as Buy
Deutsche Bank believes upside earnings risks are emerging. These risks emanate from the re-start of the $300m share buyback, finalisation of Gibson Island gas agreements and recovery in global nitrogen prices.
Read MoreBig Dry Hits Incitec Pivot
Nufarm, the crop protection group, warned earlier this week that the big dry across much of Australia’s Eastern States would impact 2017-18 earnings (helped by poor weather in the US and Europe). Yesterday, explosives maker, Incitec Pivot cited the dry weather as one of the reasons for its weak first half performance.
Read MoreIPL – Citi rates the stock as Neutral
The company has indicated that the Waggaman plant has been running above nameplate since the start of FY18 while US construction activity continues apace.
Read MoreIncitec Boss Goes Out With A Bang
Incitec Pivot CEO, James Fazzino is going out in style – the company, a leading fertiliser and explosives maker lifted full-year profit to $318.7 million and small lift in final dividend for the year to September 30, and a $300 million share buyback over the next year.
Read MoreIPL – Deutsche Bank rates the stock as Buy
Deutsche Bank reduces earnings forecasts by -4-6% to reflect revised foreign currency assumptions as well as slightly lower diammonium phosphate prices in FY17.
Read MoreIPL – Deutsche Bank rates the stock as Buy
The broker sees the appointment of Jeanne Johns as CEO a minor positive for Incitec given her global experience and time spent with BP.
Read MoreLouisiana Plant Lifts Incitec Pivot
Directors of Incitec Pivot (IPL), the fertiliser and explosives group lifted interim payout to shareholders to 4.5 cents a share for the year to March 31, from the 4 cents a share paid the year before when the result was hit with more than $105 million of impairments and write downs.
Read MoreBull Put Spread on Incitec Pivot
Most traders can profit from a rising market; simply buy stock, right?
Read MoreIPL – Macquarie rates the stock as Outperform
The AGM update reinforced Macquarie’s view that the company is doing a good job in managing the controllables in tough conditions. The direction of fertiliser prices remains the key to the company share price, in the broker’s opinion.
Read MoreIncitec Pivot Outlook Hinges On Key Prices
Earnings weakness is expected to persist for Incitec Pivot (IPL) as prices of its key products for fertilisers are subdued and its explosives business remains tough. The question for brokers is when the market will signal prices have reached a bottom.
Read MoreIncitec Fails To Ignite
Shares in explosives and fertiliser group in Incitec Pivot (IPL) bounced around yesterday as investors couldn’t quite figure out the full year result.
Read MoreIPL – Citi rates the stock as Buy
It is Citi’s observation the Incitec Pivot share price often moves on short term considerations. Hence why the analysts exclaim: look forward investors, do not look backwards. We all know FY16 was bad, but FY17 holds a lot of promise.
Read MoreOutlook Deteriorates For Incitec Pivot
Incitec Pivot (IPL) is about to start up its long-awaited Louisiana plant but the market is not providing the best outlook, brokers maintain. The company will commission the 800,000t per annum ammonia project in the September quarter and the plant is expected to operate at an average loaded rate of 80% through FY17.
Read MoreIPL – Citi rates the stock as Buy
The bad news is: Citi analysts have conducted a serious cut to 2016 estimates. The good news is: estimates for 2017 went up by a little. Buy rating retained and $3.60 price target left untouched.
Read MoreIPL – Citi rates the stock as Buy
The bad news is: Citi analysts have conducted a serious cut to 2016 estimates. The good news is: estimates for 2017 went up by a little. Buy rating retained and $3.60 price target left untouched.
Read MoreIncitec Shares Jump As Profit Slumps 78%
Shares in fertiliser group, Incitec Pivot jumped yesterday, not because the company cut dividend and reported a drop in net profit after a big write-down, but in appreciation of the reasons for that write-down.
Read MoreResilient Incitec Pivot Surprises Brokers
Incitec Pivot (IPL) surprised most brokers with its first half results, as the impact on earnings from the Dyno Nobel Americas volume losses in the coal and metals markets was less than expected. Moreover, the company impressed with record production from its Australian Moranbah and Phosphate Hill plants.
Read MoreIPL – Macquarie rates the stock as Outperform
Global fertiliser prices continue to be weak, the broker notes, despite this time of the year usually providing a seasonal pick-up. General commodity price weakness is likely one factor, the broker suggests, along with a weak Brazil, a slow start to the US season and generally well supplied markets.
Read MoreIPL – Macquarie rates the stock as Outperform
Macquarie reviews the outlook for Southern Cross Fertilisers after the NT gas deal and finds it has improved considerably. The gas agreement with Jemena is expected to result in gas costs decreasing by around $55m per annum relative to current costs.
Read MoreIncitec Facing ‘Challenging’ Outlook
A solid 2014-15 result and a lift in dividend was not enough to convince grumpy investors that Incitec Pivot (IPL) shares were worth chasing in yesterday’s weak market.
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