OCI Resources LP (the "Partnership", "we", or "OCIR") (NYSE: OCIR) today reported third quarter 2013 earnings results for the period ended September 30, 2013.
Third Quarter 2013 Highlights:
Third quarter Earnings per Unit were $0.22 and $0.69 year-to-date. Pro forma third quarter Earnings per Unit were $0.40 and $1.31 year-to-date.
Reported $23.0 million of EBITDA for the quarter; year-to-date September 30, 2013 EBITDA of $72.2 million. EBITDA attributable to OCIR was $10.1 million for the quarter; $35.0 million year-to-date. Pro forma EBITDA attributable to OCIR was $11.7 million for the quarter; $36.8 million year-to-date.
Third quarter revenue of $105.6 million decreased 5.7% over the prior year quarter; year-to-date revenue of $324.6 million decreased 6.5% versus 2012 period.
Results were impacted by both scheduled and unscheduled maintenance outages in September.
Fourth Quarter 2013 Outlook:
We expect improving international demand to positively impact volumes in the quarter.
Total revenues expected to increase approximately 10% sequentially, driven by higher volumes and improving prices in Asia.
Favorable improvement from federal royalty rate changing from 6% to 4%.
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