Icl Group Ltd. ( (ICL) ) has released its Q3 earnings. Here is a breakdown of the information Icl Group Ltd. presented to its investors.
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ICL Group Ltd. is a global specialty minerals company focused on providing solutions to sustainability challenges in food, agriculture, and industrial markets, utilizing its resources in bromine, potash, and phosphate. The company is dual-listed on the New York and Tel Aviv Stock Exchanges.
In the third quarter of 2024, ICL reported sales of $1.75 billion and an adjusted EBITDA of $383 million, showcasing consistent sequential growth. Despite facing challenges like lower potash prices, ICL’s specialty-driven businesses showed significant improvement, prompting the company to raise its annual EBITDA guidance for these segments.
ICL’s industrial products division saw increased sales and EBITDA due to market share gains in flame retardants. The potash segment experienced a decrease in sales and EBITDA, influenced by a decline in the Grain Price Index and reduced production at ICL Dead Sea. Phosphate solutions showed a rise in EBITDA due to increased sales of industrial phosphates and higher demand for battery materials in China. Growing solutions also posted strong EBITDA growth, driven by improved gross profit across various regions.
Looking ahead, ICL remains focused on enhancing its product portfolio and improving cost efficiencies, anticipating better market conditions in 2025. The company is committed to its strategic growth initiatives and expects its specialty-driven business to continue delivering robust results.
