Jefferies sees Incitec Pivot's FY23 estimates pull back on market update

Dyno Nobel

12/09/2023 03:45

** Jefferies says Australia's Incitec Pivot's  IPL.AX 
trading update will see FY23 estimates pulled back
    ** Top fertiliser maker said on Monday after market close it
continues to pursue a potential sale of its fertiliser business,
and flagged lower earnings for its distribution segment
    ** Co said earnings in the distribution business for FY23
will be at the lower end of the A$40 mln ($25.72 mln) - A$60 mln
range.
    ** Jefferies sees 13.3% fall in co's FY23 EPS (earnings per
share) on lower commodity prices
    ** Shares of IPL currently up 0.3% to A$3.08 - their highest
level since Aug 4
    ** Stock down 18.4% YTD as of last close
 


($1 = 1.5555 Australian dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))