People & Business :: Earnings/Finance
OCI Resources reports earnings drop on low soda ash volumes
11:38 AM MST | November 6, 2013 | Lindsay Frost
Soda ash maker OCI Resources, which completed an initial public offering in October, says that third-quarter net income fell 41% year-on-year (YOY), to $13.9 million. Sales of $105.6 million dropped 6% YOY due to an overall decline in both international and domestic sales, although sales volume declines more than offset higher prices. Results were also impacted by both scheduled and unscheduled maintenance outages in September, the company says. “Our third quarter operating performance and our Ebitda of $23 million were below our expectations,”...
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