Innophos (IPHS) Earnings Top Estimates In Q2, Revenues Lag
Zacks Investment Research | Aug 12, 2019 07:33AM ET
Innophos Holdings, Inc. (NASDAQ:IPHS) logged a profit of around $1.4 million or 7 cents per share in second-quarter 2019, down around 78% from a profit of roughly $6.2 million or 31 cents a year ago. The bottom line in the reported quarter was hurt by a $6.6 million tax charge.
Barring one-time items, the company’s adjusted earnings were 43 cents per share in the quarter, down 22% year over year. However, it topped the Zacks Consensus Estimate of 35 cents.
Revenues were $185 million for the reported quarter, down around 10% year over year, as pricing power was mostly offset by the impact of planned discontinuation of the low-margin nutrition trading business, weaker demand in several markets, reduced sales to the U.S. fertilizer markets due to flooding in the Midwest and the indirect effects of tariffs. Sales also missed the Zacks Consensus Estimate of $201.1 million.
Innophos Holdings, Inc. Price, Consensus and EPS Surprise
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