Canada Chemtrade swings to Q3 net loss as pandemic affects sales

Author: Annalise Porter


HOUSTON (ICIS)--Chemtrade swung to a net loss during Q3 of Canadian dollar (C$) 48.3m ($36.8m) from the previous quarter as the coronavirus continues to significantly affect demand for the company’s products.

Chemtrade net earnings (C$m)
Q3 2020 Year prior Quarter prior
-48.3 -0.2 4.5

Lower sales of regenerated and merchant sulphuric acid contributed to the sharp decrease.

The negative effects of lower sales levels were offset by higher sulphuric acid prices.

In September, Chemtrade said it will shut down its Shreveport, Louisiana, acid plant.

The Toronto-based industrial company's services include converting hydrogen sulphide into sulphur and sulphuric acid, ammonium sulphate production and prilling liquid sulphur.

($1 = C$1.31)

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