Tag Archives: raw sugar prices

The Five Primary Questions We Asked IPSU Management

February 17, 2010 – 2:47 pm

We 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 [...]

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IPSU: Valuing Wholesome Sweeteners, Other Tidbits from the 10Q

February 9, 2010 – 5:27 pm

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 [...]

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Delays in Port Wentworth Ramp-up, Concerns About Raw Sugar Costs Don’t Change the Asset Value for IPSU

February 5, 2010 – 3:43 pm

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 [...]

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