Explosives and fertilizer group, Incitec Pivot Limited's (ASX:IPL) apparently weak financial performance in the March half-year reflected the sale of its US explosives plant in Louisiana in late 2023, as well as the impact of one-off items, including a significant write-down in the value of its soon-to-be-sold fertilizer business.
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Shareholders in the fertilisers and explosives group Incitec Pivot (ASX:IPL) will receive a capital return of approximately $1 billion, in addition to the paused $400 million buyback, once the sale of the company's vast US ammonia production plant is finalised shortly.
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Incitec Pivot (ASX:IPL), the explosives and fertiliser manufacturer, is poised for a tumultuous trading session today (Tuesday) following the release of a mixed trading update well after Monday's trading hours had concluded.
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Incitec Pivot (ASX:IPL) is reported to have chosen the Indonesian state-owned company Pupuk Kaltim as the preferred buyer of its significant Australian fertilisers business.
Read MoreTuesday saw Incitec Pivot’s Jeanne Johns name added to the list of CEOs in the news, stepping down from the role at the end of June.
Read MoreIncitec Pivot shares fell 10% at one stage yesterday after revealing a weak performance in its fertilisers business for the six months to March 21.
Read MoreOpposition from shareholders to a de-merger has forced Incitec Pivot to delay the idea and look to asset sales as it reported a surge in earnings and a higher dividend.
Read MoreThe Add rating is retained, while the target falls to $4.45 from $4.56.
Read MoreIncitec Pivot is joining the now fashionable corporate ‘divorce’ trend, yesterday revealing a plan to spin off its mining explosives division from its fertiliser business by mid-2023.
Read MoreFor the third time in a year, fertiliser maker Incitec Pivot has been forced to take a costly charge for a problem at its supposedly state-of-the-art Waggaman ammonia plant in the US.
Read MoreThe Buy rating is retained and the target price increases to $4.50 from $3.95.
Read MoreThe Neutral rating is retained and the target price increases to $3.85 from $3.45.
Read MoreThe target price rises to $3.58 from $3.14, while the Neutral rating is unchanged.
Read MoreNeutral rating and $3.14 target price retained for now.
Read MoreThe Neutral rating is retained and the target price increases to $3.14 from $3.01.
Read MoreA sharp rise in revenue, earnings and dividends saw Incitec Pivot shares leap 17% in early trading on Monday – touching a 23-month high – before closing up a more modest 4% on the day.
Read MoreAustralian fertiliser group Incitec Pivot (ASX: IPL) says high gas prices are to blame for its decision to shut down its 50-year-old manufacturing plant on Brisbane’s Gibson Island.
Read MoreThere’s already plenty of interest for green hydrogen in Western Australia and now Queensland wants in on the act, with two new proposed projects announced in as many days in the Sunshine State.
Read MoreIncitec Pivot will take another round of losses from its troublesome Waggaman ammonia plant in Louisiana, but this time it’s not the plant itself at fault but nasty Hurricane Ida.
Read MoreThe analyst raises the target price to $2.91 from $2.88 and maintains the Buy rating.
Read MoreAs expected, it was a miserable interim result for Incitec Pivot thanks to unexpected and very expensive plant outages at a major plant in the US state of Louisiana.
Read MoreFurther downgrades from the once high-flying A2Milk and fertiliser maker Incitec Pivot on Monday – not the first for either company, both of which are turning into serial offenders.
Read MoreMore problems in a key US plant for agri-chemical producer Incitec Pivot and a bigger hit to earnings as a result saw the company’s shares fall 8% in Tuesday trade.
Read MoreRecent rainfall along most parts of the east coast has helped to improve agricultural conditions after years of drought, while flooding has been confined to coastal regions and not the main grain production areas of NSW. Buy rating retained. Target is $2.85.
Read MoreDespite a number of North American plant outages, Morgans estimates the rest of the business will offset these impacts. Add rating and price target increased to $3.25 from $2.50.
Read MoreGood news and bad in a trading update from Incitec Pivot (IPL) yesterday that warned investors about problems at its American factories but also hinted as continuing good ties in rural Australia in the wake of the breaking of the drought.
Read MoreFertiliser prices are strengthening and even with a weaker USD, have created a stronger near-term outlook for Incitec Pivot, suggests Credit Suisse. Target rises to $2.73 from $2.70.
Read MoreThe pandemic has severely hit Dyno Nobel Americas’ ammonium nitrate volumes with the impact most pronounced in coal/metals markets.
Read MoreAs outages for maintenance in the year ahead create challenges for Incitec Pivot this should be countered by improved fertiliser prices and a recovery in demand for explosives.
Read MoreNo final dividend (as expected) from ASX-listed explosives and fertiliser manufacturer Incitec Pivot which reported a fall in its statutory net profit to $123.4 million. Investors didn’t like the news or the lower than expected profits and revenues and the shares fell 2.8% to $2.10, thereby missing out in the great Pfizer COVID-19 vaccine surge on Tuesday which came and went in a day.
Read MoreIncitec Pivot has updated on the key components driving the business, amid challenging conditions stemming from low prices and the pandemic
Read MoreMacquarie lifts forecasts for the Australian dollar and, whilst in isolation this is negative for reported earnings, a stronger currency is usually correlated positively with higher global fertiliser prices.
Read MoreIncitec Pivot remains a slave to the usual suspects – cropping conditions, explosives demand and pricing. A capital raising has alleviated some concerns for the balance sheet.
Read MoreFertiliser and explosives manufacturer Incitec Pivot (IPL) is looking to raise $675 million to strengthen its balance sheet and pursue growth opportunities.
Read MoreUBS expects depressed prices for ammonia are likely to persist throughout the US cropping season in the second half of FY20. The impact is offset by a lower Australian dollar and improved Australian fertiliser distribution outlook.
Read MoreDespite the prevalence of bad news stories and a sea of red across stock screens, Perpetual’s Anthony Aboud argues it’s not all bad news.
Read MoreIn more normal times – and nothing is normal at the moment – low oil prices benefit the global economy and stocks such as manufacturers and transport companies. Tim Boreham outlines those Australian companies which stand to benefit from significantly lower energy prices.
Read MoreAs 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.
Read MoreEarly 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 MoreA 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.
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