Report
Mark Taylor
EUR 100.00 For Business Accounts Only

Incitec Pivot Strengthening Customer Relationships Through Technology

We make retain our AUD 3.00 per share fair value estimate for explosives company Incitec Pivot, despite lowering our fiscal 2018 EPS forecast by 8% to AUD 0.23 from AUD 0.26 following guidance provided at the company’s investor day. No-moat Incitec Pivot doesn’t provide explicit earnings guidance but revealed enough to prompt some reining-in of our short-term earnings expectations. Fiscal 2018 has been affected by a mechanical turnaround at the Phosphate Hill plant taking longer than expected, a...
Underlying
Incitec Pivot Limited

Incitec Pivot is engaged in the manufacturing and distribution of industrial explosives, industrial chemicals and fertilisers, and the provision of related service. Co.'s Asia Pacific business consists of the: Dyno Nobel Asia Pacific, which manufactures and sells industrial explosives and related products and services; Southern Cross International, which manufactures ammonium phosphates and is a distributor of its manufactured fertilizer product; and Incitec Pivot Fertilisers, which manufactures and distributes fertilizers in Eastern Australia. Co.'s Americas business comprises the Dyno Nobel Americas, which manufactures and sells industrial explosives and related products and services.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Mark Taylor

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