Itafos Q2 revenue rises 21%,

Overview

• Itafos Q2 2025 revenue rises to $126.8 mln from $105.1 mln last year

• Adjusted EBITDA declines to $31.8 mln due to higher input costs

• Net income increases to $24.8 mln, aided by investment gains

Outlook

• Itafos expects phosphate prices to remain strong in 2H 2025

• Company maintains FY 2025 guidance for sales volumes at 340-360k tonnes

• Itafos projects FY 2025 growth capex to be $63-83 mln

• Company anticipates limited US phosphate imports due to tariffs

Result Drivers

• PRODUCTION INCREASE - Higher production volumes at Conda and Arraias, with Conda back to full capacity post-turnaround and Arraias restarting granulation circuit

• INPUT COSTS - Increased sulfur and sulfuric acid costs at Conda impacted operating margins, despite higher revenues

• PHOSPHATE PRICES - Significant increase in phosphate prices, but full benefits deferred to H2 due to MAP offtake contract structure

Key Details

Analyst Coverage

• The one available analyst rating on the shares is "strong buy"

• The average consensus recommendation for the agricultural chemicals peer group is "buy."

• Wall Street's median 12-month price target for Itafos Inc is C$4.25, about 30.6% above its August 5 closing price of C$2.95

• The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release: ID:nGNX4LQBjM