The following is a summary of the Chemtrade Logistics Income Fund (CGIFF) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Chemtrade Logistics reported a Q1 2024 revenue of $230.6 million in the Sulphur and Water Chemicals segment, a decrease of 12% YoY.

• EBITDA for the SWC segment was $51.4 million, a decrease of 7% over last year.

• Revenue for the Electrochemical segment for Q1 was $187.6 million, a decrease of 10% YoY and EBITDA declined 17% compared to Q1 2023.

• The company's net debt to adjusted EBITDA ratio improved to 1.9x from 2.2x at the end of Q1 2023.

• Chemtrade Logistics expects 2024 EBITDA to be at the higher end of guidance range of between $395 million and $435 million.

Business Progress:

• Improvement in margins in the Water Chemicals segment due to increased selling prices.

• Maintenance activity in sodium nitrite resulted in improvements beginning in Q1 2024.

• Initiation of a normal course issuer bid to return capital to unitholders.

• Chemtrade is considering retiring convertible debentures maturing next year and assessing potential acquisitions.

• Plan to allocate $60 - $90 million to growth capital expenditures in 2024.

• Slight reduction in netback per tonne but showing improvement over the year.

• Focused on organic growth and strategic acquisitions with the addition of a specialty product line at the Augusta facility and proposed approval for a buyback of up to 10% of their float.

• A JV related to a greenfield site is being considered, assessing demand to fill the proposed 100,000-ton capacity at Cairo.

More details: CHEMTRADE LOGISTICS INCOME FUND IR

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