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Specialty Chemical, trading & logistics co's : VHI, NL, etc

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Chemical trading co's : XLB, VHI, NL, ... etc

XLB / Materials Select Sector SPDR ETF ... update : $53.51



NL- etc ... update :


KRO - etc ... update :



Symbol    Company------- Last :  PE-R : Yield : BkVal :  P-BV : D/Eq : E.ps :

KRO / Kronos Worldwide :  13.70 : 6.95 : 4.96% : $7.53 : 182% : 53-X :
KWR / Quaker Chemical : 202.69 : 64.7 : 0.73% : 32.35 : 627% : 12-X :
MTX / Minerals Tech.------ : 59.43 : 12.5 : 0.34% : 38.45 : 155% : 73-X :
NL    / NL Industries -------- : $3.80 : 33.8 : 13.2% : $5.99 : 63.% : 0.16 :
OMN/ Omnova Solutions :  $8.82 : 19.0 : - n/a - : 17.25 : 223% : 1.21 :
VHI  / Valhi, Inc.-------------  :   $3.47 : 3.44 : 2.31% : -0.05 : - N/a- : 80-X :
==== :


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10 Best Specialty Chemical Stocks for This Year - Top Stocks - TheStreet

    Find the best specialty chemical stocks for this year. ...
    The following specialty chemical stocks are rated highest by our value-focused ... Best ETFs for 2019 ...

    Equity Top: Commodity Chemicals



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    Harold Simmons created the Valhi group ... & during his lifetime owned 100 Million shares


    FpBhLsl.png: Timeline :

    Symbol    Company----- Last :  PE-R : Yield : BkVal : Sh-OS : Mkt.Cap : Vown : V-Val :
    KRO / Kronos W'wide :  13.70 : 6.95 : 4.96% : $7.53 : 116.M : $1590.M : 50% : $795.0M
    NL    / NL Industries - : $3.80 :  33.8 : 13.2% : $5.99 : 43.7M : $185.2M : 83% : $153.7M
    === / Valhi's share ---- : -------------------------------------------> ------------> ----------------------->$ 949M
    VHI / Valhi, Inc.---------  : $3.47 :  3.44 : 2.31% : -0.05 : 340.M : $1180.M : PctVV: 124% > DATA

    VHI / Valhi ... All data : $3.47


    NL / NL Industries ... all-data : Shows CYCLICALITY - peak every 6-7 years?


    KRO / Kronos WW ... all-data :


    CIX ... all-data :


    In 2012, Simmons sold off one of his previous companies, Timet... before he passed on

    Precision Castparts to Buy Titanium Metals for $2.9 Billion

    The Precision Castparts Corporation agreed on Friday to buy the Titanium Metals Corporation, an industrial parts maker whose majority owner is the Texas billionaire Harold Simmons, for about $2.9 billion in cash.

    Under the terms of the deal, Precision will pay $16.50 a share, nearly 43 percent above the closing price of Titanium Metals on Friday.

    The transaction will yield a big payday for Mr. Simmons, a veteran investor and prolific political donor who owns 45 percent of Titanium Metals, commonly known as Timet.


    (Note: Harold Simmons passed on in Dec. 2013, and Valhi is now control by his wife & daughter/s ?)


    Humble beginnings... and an appetite for acquisitions

    He would then go on to purchase a variety of banks across Texas, using one bank to finance the purchase of the other. This would give him the nickname “Dallas’ Most Evil Genius”, and he kept doing this. Once he got bored with banking, he looked to even larger things. Next he would attempt to take over Lockheed Martin, and he eventually acquired a 20% stake in the company. From there, the list of companies that Simmons controlled or owned is pretty absurd: Muse Air, Valhi Inc., Amalgamated Sugar, Contran Corporation, and much more. These companies would eventually contribute to his massive net worth, and he would eventually become a multi-billionaire.

    > https://worthly.com/richest/harold-simmons-rose-poverty-10-billion-tycoon/

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    VHI Ratios

    VHI to KRO


    VHI to NL


    VHI to XLB




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    CHE / ChemTrade - Q3- Pg.23

    OUTLOOK : We remain confident...
    that our portfolio of businesses, business model and our strong balance sheet will allow us to comfortably sustain our distributions and increase our financial flexibility by reducing leverage

    > http://www.chemtradelogistics.com/main/wp-content/uploads/Q3-2018_CLIF_Report.pdf


    Particularly interested in caustic soda and hydrochloric acid markets in the north-west
    + Regaining strength
      + Demand remains firm, pricing continues to have upward momentum (despite recent volatility)
    + Strong pricing forecast at least through 2023

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    Chemtrade loses $131.51M from 2018 continuing ops


    Revenue from continuing operations for the fourth quarter of 2018 was $390.8-million, which was $4.1-million higher than the fourth quarter of 2017, largely due to higher revenues in the water solutions and specialty products (WSSC) segment.

    Net loss from continuing operations for the fourth quarter of 2018 was $97.2-million, compared with net earnings from continuing operations of $45.5-million in 2017, which included a tax recovery of $61.5-million compared with $10.7-million in 2018. During the fourth quarter of 2018, a goodwill impairment of $90.0-million related to the water products business was recorded.

    Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) from continuing operations (1) for the fourth quarter of 2018 was $65.0-million compared with $61.5-million in the fourth quarter of 2017. The increase in adjusted EBITDA is mainly attributable to lower corporate costs, including lower incentive compensation accruals.

    Cash flows from operating activities were $79.9-million compared with $62.2-million during the fourth quarter of 2017. Adjusted cash flows from operating activities from continuing operations (1) were $48.7-million compared with $41.4-million generated during the fourth quarter of 2017. Distributable cash after maintenance capital expenditures from continuing operations (1) for the fourth quarter of 2018 was $17.3-million or 19 cents per unit compared with $6.7-million or seven cents per unit in 2017.

    . . .

    Chemtrade's president and chief executive officer, Mark Davis, said: "Our results for 2018 were disappointing and reflect the challenges we faced during the year. We took action on most of these issues, which will drive improvements in 2019 and future years. It's clear that improved execution by Chemtrade and our suppliers will improve results and remains our key focus."

    In the fourth quarter of 2018, the sulphur products and performance chemicals (SPPC) segment generated revenue of $129.1-million, essentially the same as the $129.0-million generated in 2017. However, adjusted EBITDA for the quarter was $17.3-million, which was $7.1-million lower than 2017. From a revenue perspective, higher prices for merchant sulphuric acid helped to offset the impact of lower volumes due to reduced availability of merchant sulphuric acid supply. The decrease in adjusted EBITDA was driven by several factors. From a merchant acid perspective, margins were flat despite the revenue increase due to lower volume, contractual sharing some of the price increases with suppliers, and higher raw material and freight costs. Adjusted EBITDA was negatively affected by unplanned downtime at a few customers' sites and an extended maintenance outage at a regen customer. Results were also negatively affected by an extended outage at one of Chemtrade's large regen plants, which resulted in higher costs to outsource the processing of a customer's product.

    The WSSC segment reported fourth quarter revenue of $102.4-million compared with $95.2-million in 2017. Adjusted EBITDA was $11.9-million compared with $15.0-million generated in 2017. The increased revenue was mainly due to higher volumes and selling prices of water products. However, despite increasing prices, the rising raw materials costs continue to squeeze margins. Margins are expected to improve as contracts are renewed at prices reflecting the higher raw material costs. During the quarter, two specialty chemicals customers (for potassium chloride (KCl) and phosphorus pentasulphide (P2S5)) significantly reduced their purchases. A return to historic buying levels is expected once the customers' inventory levels are normalized, although in the case of KCl this may take over one year. Therefore, additional sales opportunities are being actively pursued. Until recently, this business's facility was operating at full capacity.

    The electrochemicals (EC) segment reported revenue of $159.3-million and adjusted EBITDA of $46.2-million for the fourth quarter, both of which were close to levels achieved in 2017. Lower caustic prices were offset by higher hydrochloric (HCl) acid prices. However, a sudden downturn in demand for HCl late in the second half of the quarter led to lower production of chlor-alkali. Although there has been some volatility in caustic soda prices recently, the long-term forecast for caustic soda pricing remains favourable.

    / 2 / From Feb 8th:

    Globe says Chemtrade unit price seen recovering

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    The "excess" in VHI has evaporated

    VHI-etc ... update : $2.37 vs. $4.22


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    CHE.Un / Chemtrade - Q1 Results

    Chemtrade loses $29.3-million in Q1


    The first quarter results also include an increase of $40.0 million in the reserve for legal proceedings ("Litigation Reserve") established in 2018 to cover the costs of resolving the civil actions commenced against General Chemical entities


    Net loss for the first quarter of 2019 was $29.3 million, compared with net earnings of $6.9 million in 2018. The decrease was primarily due to the Litigation Reserve booked in the first quarter of 2019, and higher net finance costs due to a loss from the change in the fair value of convertible debentures, partially offset by higher income tax recoveries during the first quarter of 2019 compared to the first quarter of 2018.

    Excluding the Litigation Reserve, Adjusted EBITDA(1) for the first quarter of 2019 was $84.0 million compared with $72.0 million in the first quarter of 2018. The increase in Adjusted EBITDA is mainly attributable to the adoption of IFRS 16, which amounted to $14.6 million, offset by lower Adjusted EBITDA in the EC and Corporate segments.

    Cash flows used in operating activities were $53.5 million compared with cash flows from operating activities of $35.0 million during the first quarter of 2018. Adjusted cash flow from operating activities(1) was $11.5 million compared with $54.1 million generated during the first quarter of 2018. Distributable cash after maintenance capital expenditures(1) (excluding the Litigation Reserve) for the first quarter of 2019 was $42.5 million or $0.46 per unit compared with $44.2 million or $0.48 per unit in 2018.

    Chemtrade President and Chief Executive Officer, Mark Davis, said, "Our SPPC segment benefited from higher selling prices for sulphuric acid and improved efficiencies as we are starting to benefit from the restructuring of the business following a significant reduction in the product we receive from our largest by-product supplier.

    > https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aCHE-2756231&symbol=CHE&region=C

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    NL & VHI ... update : $3.47 -0.11 / $2.23 +0.10 = V/N: R-xx%


    Ratio: $2.23 / $3.47 = V/N: R-64.3%


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