Toronto-Sherritt International Corp. reported third-quarter fertilizer volumes were up due to demand for ethanol production. Prices were also up. However, Sherritt continued to report a fertilizer operating loss at C$300,000 on sales of $4.9 million (12,949 mt), versus the year-ago loss of $1.7 million on sales of $3.1 million (7,614 mt). Nine-month fertilizer earnings were $600,000 on sales of $44.7 million (140,421 mt), versus the year-ago $1.3 million and $35.8 million (107,830 mt). Sherritt-wide, the company reported a drop in net earnings for the third quarter ending Sept. 30, 2007, to C$65.4 million ($.28 per diluted share) on sales of $301.3 million, versus the year-ago $74.1 million ($.43 per diluted share) and $271.2 million. EBITDA, however, was up, at $158.6 million from $146.8 million. Nine-month earnings were up, at $286.9 million ($1.45 per share) on sales of $1.01 billion from the year-ago $167.0 million ($.95 per share) and $810.2 million. EBITDA was up considerably, at $577.4 million from $381.4 million. Sherritt says it continues to benefit from strong production across its business segments and robust commodity prices.
Transparency Across the Fertilizer Value-Chain