Tag Archives: refined 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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IPSU’s 1Q10 Results Should Illuminate Asset Value, $3.00+ Annual Earnings Power is Still on the Come

February 4, 2010 – 2:44 pm

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 [...]

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IPSU: Inching Closer to Unleashing Its Full Earnings Power

September 8, 2009 – 6:15 pm

Imperial Sugar Company issued a press release today to provide investors with an update on the status of the rebuilding efforts at its Port Wentworth refinery.  The company continues to make steady progress towards restoring full production at its Port Wentworth refinery. For the past 2-3 months, IPSU has produced bulk refined sugar at the facility, [...]

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