IHS Chemical Week

People & Business :: Earnings/Finance

Odfjell swings to net profit

1:10 PM MST | November 14, 2013 | Ian Young

Odfjell swung to a $9-million net profit in the third quarter from a $39-million net loss in the corresponding quarter of 2012, on sales of $296 million, up from $276 million in the year-ago quarter. Ebitda soared year-on-year (YOY) to $37 million from $8 million. The stronger results reflect improvement in Odfjell's chemical tankers and tank terminal businesses, each of which returned to operating profit, the company says. Odfjell's tankers business swung to an operating profit of $7 million in the third quarter from a $9-million operating loss one year earlier...

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