What's In Store For Israel Chemicals (ICL) In Q1 Earnings?
Zacks Investment Research | May 03, 2019 03:47AM ET
Israel Chemicals Ltd. (NYSE:ICL) is slated to release first-quarter 2019 results before the bell on May 7. The company will likely gain from pricing strength across its businesses in the quarter.
Israel Chemicals’ shares are up around 11.8% over a year, outperforming the roughly 5.6% rise recorded by the industry .
Let’s see how things are shaping up for this announcement.
Factors to Consider
Israel Chemicals, in its fourth-quarter call, said that it will remain focused on optimizing its prices and driving margin expansion in 2019. Progress on streamlining its business is also expected to support results this year. The company has also secured several supply agreements for bromine compounds for this year, most of which are with higher prices and stable volumes.
Israel Chemicals gained from higher prices (especially for bromine) across its businesses in the last reported quarter. Higher prices across the bromine and phosphate value chains and increased realized prices for potash boosted its margins. Strict environmental-related regulatory pressure in China contributed to higher prices for bromine and phosphorous-based flame retardants. Potash prices also rose on the back of low availability of product for spot sales.
Pricing strength is expected to continue into the first quarter, lending support to the company sales and margins. However, the company is likely to continue to face higher raw material and transportation costs in the to-be-reported quarter.
Israel Chemicals Shs Price and EPS Surprise
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