ICL Group Ltd ICL recorded profits of $113 million or 9 cents per share in third-quarter 2024, down from $137 million or 11 cents in the year-ago quarter. Barring one-time items, adjusted earnings per share were 11 cents. The bottom line beat the Zacks Consensus Estimate of 8 cents.

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Sales fell around 6% yearly to $1,753 million in the quarter. The figure beat the Zacks Consensus Estimate of $1,732.7 million.

ICL Group Ltd. Price, Consensus and EPS Surprise

ICL Group Ltd. price-consensus-eps-surprise-chart | ICL Group Ltd. Quote

ICL’s Segment Highlights

Sales in the Industrial Products segment rose 16% year over year to $309 million in the quarter. EBITDA went up roughly 55% year over year to $65 million. The results were driven by market share gains in flame retardants.

Sales in the Potash segment dropped around 26% year over year to $389 million in the reported quarter. EBITDA also fell 27% year over year to $120 million. Potash prices and sales volumes declined year over year in the quarter. 

The Phosphate Solutions segment's sales fell 3% year over year to $577 million. EBITDA rose 19% year over year to $140 million. 

Sales in the Growing Solutions segment declined 2% year over year to $538 million in the quarter. EBITDA climbed around 73% from the same quarter last year to $64 million.

ICL Group’s Financials

At the end of the quarter, ICL had cash and cash equivalents of $393 million, up around 28% year over year. Long-term debt was $1,845 million, down nearly 7% year over year.

Net cash provided by operating activities was $408 million in the reported quarter.

ICL’s Guidance

ICL raised its guidance for full-year 2024 and now sees specialties-driven EBITDA of between $0.95-$1.05 billion. This marks an increase from the previous guidance of $0.8-$1 billion. ICL plans to limit its total annual potash sales volumes for this year to 4.6 million metric tons, which is in line with 2023 sales volumes. 

While the company still faces headwinds related to geopolitical uncertainties, it remains focused on developing its innovative product portfolio pipeline and executing targeted cost and efficiency efforts.

ICL Stock’s Price Performance

ICL’s shares have lost 12.7% in the past year compared with the Zacks Fertilizers industry’s 13.8% decline.

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ICL’s Zacks Rank & Other Basic Materials Releases

ICL currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

DuPont de Nemours, Inc. DD logged adjusted earnings of $1.18 per share in the third quarter, topping the Zacks Consensus Estimate of $1.04. DD raised its full-year 2024 projections for operating EBITDA and adjusted earnings per share. 

The Chemours Company CC recorded adjusted earnings of 40 cents for the third quarter, topping the Zacks Consensus Estimate of 32 cents. CC expects consolidated net sales to decline in the mid to high-single digits sequentially in the fourth quarter. Consolidated adjusted EBITDA is forecast to be down in the high teens to low 20% range compared with third-quarter 2024 results. 

PPG Industries, Inc. PPG logged third-quarter adjusted earnings per share of $2.13, missing the Zacks Consensus Estimate of $2.15. PPG anticipates flat organic sales and adjusted earnings per share at the bottom end of the $8.15 to $8.30 range for full-year 2024.

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