Israeli Chemical Reports Positive Q 1

Israel Chemicals reported sales of $1.4 billion, which represents a .8% growth. That number is misleading since in the first quarter of 2018 there was a one time sale of $46 million. In addition, the exchange rate changes decreased the company’s income by another $41 million. On the other hand, the loss was offset by an increase in regular sales. Israel Chemicals earned $139 million, which represents a drop from $928 million earned during the first quarter of 2018, but which was inflated by a one time capital gain of $841 million. Excluding one-time profits the company’s net profit rose by 42% from the first quarter of 2018. Israel Chemical’s rise in profits was a result of the increase in the price of phosphates, which averaged $33 per ton more in the first quarter of 2019, in contrast to the price in the first quarter of 2018.

[finviz ticker=ICL]