Innophos Holdings (IPHS) Tops Q3 EPS by 10c
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Innophos Holdings, Inc. Reports Third Quarter 2016 Results
October 27, 2016 4:05 PM EDTCRANBURY, N.J., Oct. 27, 2016 /PRNewswire/ -- Innophos Holdings, Inc. (NASDAQ: IPHS), today announced its financial results for the third quarter ending September 30, 2016.
Q3 2016 Highlights
Net income of $14 million was up 151% year-over-year on a GAAP basis and up 13% on an adjusted basis, despite a 7% decrease in sales Strong adjusted EBITDA performance of $34 million, or 18% of sales, up 192 basis points sequentially and 291 basis points year-over-year Working capital reductions drove strong cash delivery with $40 million operating cash flow and $33 million free cash flow Entered two-year tolling agreement for GTSP co-product business effective December 1, 2016... More