Business
Chemtrade Logistics Income Fund to Announce Fourth Quarter and Year End 2017 Results on February 13, 2018
Chemtrade Logistics Income Fund to Announce Fourth Quarter and Year End 2017 Results on Fe...
About this update from Chemtrade Logistics Income Fund
[{"type":"text","content":"\n\n\n\nChemtrade Logistics Income Fund to Announce Fourth Quarter and Year End 2017 Results on February 13, 2018\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Jan. 12, 2018\n\n\n\nFund provides update that Q4 2017 EBITDA for SPPC and WSSC segments are expected to be lower than Q4 2016\n\n\n\nTORONTO, Jan. 12, 2018 /CNW/ - Chemtrade Logistics Income Fund (TSX: CHE.UN) will release its results for the three months and year ended December 31, 2017 on Tuesday, February 13, 2018 after close of markets.\n\nThe Fund expects 2017 fourth quarter aggregate EBITDA (a non-GAAP measure that is defined in the Fund's management's discussion and analysis) for its Water Solutions & Specialty Chemicals (WSSC) and Sulphur Products & Performance Chemicals (SPPC) segments to be approximately 20% lower than the fourth quarter of 2016.  This is a change from the indications made in the third quarter that aggregate EBITDA from these segments should be similar to last year.\n\nMark Davis, President and Chief Executive Officer of Chemtrade, said, \"Similar to our comments at the end of the third quarter, demand for our core products remains strong.  We had expected additional strength in WSSC to offset some weakness in SPPC, but that strength failed to materialize. Although these estimates of the Fund's fourth quarter earnings are subject to our year-end audit, we believe an update of the probable level of earnings is appropriate.\"\n\nAdditionally, the Fund updated the status of its North Vancouver chlor- alkali plant.   In November 2017, Chemtrade announced that the plant underwent an unplanned interruption that would last approximately two weeks and negatively impact EBITDA by approximately $7 million to $8 million, the majority of which would be realized in the fourth quarter of 2017. The outage at this plant was slightly longer than initially expected, but the financial impact was as anticipated. The plant is currently running well and is expected to do so until a planned outage in April 201...