Incitec Pivot Ltd T.IPL

Primary Symbol: ICPVF

Chemicals Basic Materials

Incitec Pivot Limited is an Australia-based manufacturer and supplier to the resources and agricultural sectors. Its segments include Asia Pacific and Americas. Asia Pacific segment includes Fertilisers Asia Pacific (Fertilisers APAC) and Dyno Nobel Asia Pacific (DNAP). Fertilisers APAC manufactures and sells fertilizers in Eastern Australia and the export market. It also manufactures, imports and sells industrial chemicals to the agricultural sector and other specialist industries. DNAP manufactures and sells industrial explosives and related products and services to the mining industry in the Asia Pacific region, Turkey and France. Americas segment includes Dyno Nobel Americas, which manufactures and sells industrial explosives and related products and services to the mining, quarrying and construction industries in the Americas (Canada, Mexico and Chile) and initiating systems to businesses in Australia, Turkey and South Africa. It also manufactures and sells industrial chemicals.

OTCPK:ICPVF - Post by User

Incitec Pivot Ltd > Q4 results not bad. Underlying has some weakness.

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Post by MOJOJONOon Feb 14, 2019 4:47pm

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Post# 29366905

Q4 results not bad. Underlying has some weakness.

FFO is up significantly, but it is all carried by the NGLs. Everything else is down. Conventional oil is -17% significantly due to a competitor. Bulk liquid storage ugly -32.47% with utilization cratering compared to last year.
basically, everything is hinging on continued success of their NGL segment. For now it is fine, but if something changes or disrupts the NGL segment there will be some pain unless other segments start picking up the their slack.

cap ex on heartland continues nicely and they plowed back into developing Heartland. Nice development there.

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