Fertilizantes Heringer, Viana, Brazil, reported higher earnings and revenue for first-quarter 2022, though fertilizer volumes were off 20%. The company said it maintained gross and operational profitability despite the global rise in input costs and lower market demand.
First-quarter net earnings were R$128.4 million on net revenue of R$1.23 billion, up from the year-ago loss of R$7.45 million on R$741.3 million, respectively. EBITDA was R$85.1 million, down from R$103.8 million
Volumes were 301,239 mt, down from the year-ago 376,550 mt. Specialty fertilizer volumes made up 51% of sales, up from the year-ago 48%. Specialty volumes were 153,000 mt, down from 181,000 mt, while conventional tons dropped to 148,000 mt from 196,000 mt.
Heringer said 30% of its sales went to the other crop category, 27% to coffee, 25% to corn, 14% to sugar cane, and 4% to soybeans.