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Israel Chemicals' Net Income Soars on Strong Demand and Near-Record Prices

11:11 AM MST | November 21, 2011 | Natasha Alperowicz

Israel Chemicals today reported a 79% increase in third quarter net income to $436 million on 36% higher sales at $1.898 billion. Operating income was 74% higher at $556 million and operating margin rose from 22.9% to 29.3%. The company cites strong demand, near-record prices as well as new potash contracts with Chinese and Indian customers and higher prices for potash and phosphate fertilizers.   Israel Chemicals has also benefited from the consolidation of Everris and Fuentes specialty fertilizer businesses acquired during the first half of 2011 and...

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