Subscribe to RSSWe recently had the opportunity to speak with IPSU’s CFO, Hal Mechler and other members of company management to get answers to a few lingering questions we had following the company’s 1Q10 earnings release and subsequent conference call. Overall, we had five major questions which we wanted answered. Here are the questions:
Why did senior management “talk [...]
We wanted to provide you with an update on the performance of our SMid Cap portfolio, which we introduced on 9/3/09. As a reminder this is a “mock” portfolio with an initial value of $100 million. We plan to manage the portfolio like a long/short equity hedge fund.
Performance Update
Thus far in 2010, the PAA Research [...]
IPSU issued its 1Q10 10-Q filing this morning. For the first time, IPSU provided P&L disclosure on Wholesome Sweeteners and Santos separately. In the past, we have argued that the company’s ownership stakes in Wholesome Sweeteners and Santos could be worth as much as $50 million. Based on the additional disclosures we evaluated today, it [...]
IPSUshares are off 10%+ today following release of the company’s 1Q10 earnings results. Overall, revenues fell short of our expectations, but EPS of $14.84 (including gains from the insurance settlement and raw sugar hedges) were inline with our expectations. We attribute the weakness in IPSU shares to two primary factors:
Disappointment over the pace of expansion [...]
IPSUwill report 1Q10 results tomorrow before the market opens. We estimate the company could report EPS in excess of $15.00 based on the company’s settlement of its property insurance claims for the Port Wentworth refinery accident. Additionally, we estimate the company will recognize an additional $2-$4 million in gains from its raw sugar hedges, which [...]
We wanted to update you on a recent development in the global sugar market and discuss recent trends in sugar pricing, both of which indicate that underlying fundamentals and investor interest in the sugar sector remain robust.
Bright Food Group Inc. Bids for Australia based CSR Ltd.’s Sugar Assets
Earlier today, Bright Food Group Inc., a Chinese [...]
We wanted to provide you with an update on the performance of our SMid Cap portfolio, which we introduced on 9/3/09. As a reminder this is a “mock” portfolio with an initial value of $100 million. We plan to manage the portfolio like a long/short equity hedge fund.
2009 Performance Highlights (Remember the SMid Cap Portfolio [...]
IPSUshares are rallying today following the company’s announcement that it had reached a settlement with its property and business interuption insurance providers related to the Savannah refinery accident. You can read the full release here. As a result of the settlement, IPSU will receive $345 million in cash proceeds (compared to the policy value of [...]
We wanted to provide you with an update on the performance of our SMid Cap portfolio, which we introduced on 9/3/09. As a reminder this is a “mock” portfolio with an initial value of $100 million. We plan to manage the portfolio like a long/short equity hedge fund.
Here are the highlights of the performance since [...]
IPSU shares have traded off as much as 15% today following the company’s 4Q09 earnings release and subsequent conference call. You can find the earnings release here. As we indicated in yesterday’s report on IPSU, heading into the earnings release we were concerned about unrealistic investor expectations for the quarter created by the one analyst who [...]
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