Israel Chemical misses by $0.01, misses on revs
- Reports Q3 (Sep) earnings of $0.09 per share, excluding non-recurring items, $0.01 worse than the two analyst estimate of $0.10; revenues rose 0.3% year/year to $1.38 bln vs the $1.48 bln two analyst estimate.
- Higher quantities sold in the Company's Essential Minerals division, as well as organic growth in the Specialty Solutions division were mostly offset by weaker pricing in the Essential Minerals division.
- The signing of contracts for potash imports into China and India contributed to recovery of the nutrient trade during the third quarter. Contracts signed between ICL and its Indian customers include the supply of 660,000 tonnes of potash (including optional quantities totaling 60,000 tonnes) at a price of $227 per tonne CFR for delivery from July 2016 to June 2017.