Reports Q2 (Jun) earnings of $0.81 per share, $0.03 better than the First Call consensus of $0.78; revenues fell 36.8% year/year to $166.8 mln vs the $173.3 mln consensus. On a sequential basis, management currently expects that third quarter 2009 volumes, excluding GTSP fertilizer sales, could increase 5% to 10% from those experienced in the second quarter 2009. The Company expects its third quarter 2009 raw material cost structure on a constant volume and mix basis to be $5 to $7 million higher than the second quarter 2009 due to higher phosphate rock and phosphoric acid costs in Mexico and the mix of phosphoric acid supply in the United States and Canada. Approximately half of this increased cost will be offset by lower restructured fixed costs.
Innophos Holdings, Inc., together with its subsidiaries, produces specialty phosphates primarily in the North America. Its products include specialty salts, which are used in food, beverage, and pharmaceutical applications; specialty acids that are used in industrial applications, such as asphalt modification and petrochemical catalysis; technical grade sodium tripolyphosphate (STPP), which is used in detergent applications, including automatic dishwashing, commercial/industrial detergents, and home laundry detergents; and other products, such as phosphate fertilizers that are used as co-products of manufacturing purified phosphoric acid. Innophos Holdings also offers purified phosphoric acid (PPA) that is used as an input to specialty salts, specialty acids, and STPP, as well as in water and metal treatment applications. The company's customers include consumer goods manufacturers, distributors, and specialty chemical manufacturers in food, bakery, beverage, pharmaceutical, and cleaning product markets. Innophos Holdings was incorporated in 2004 and is headquartered in Cranbury, New Jersey.
Disclosure I am long IPHS shares.
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