On February 19, the company described its expectation that the first quarter would be impacted by three significant headwinds: the PHH incident, severe winter weather and a sequential increase to normal maintenance spending.
“The severe weather in the first quarter caused a spike in natural gas prices in line with our expectations, but the unfavorable impact of severe weather on operating rates and sales exceeded our initial estimates,” President and CEO Paul Carrico said.
“During this period of lower production and sales, we increased maintenance spending by an additional approximately $10 million compared to what we described February 19th to prepare our plants to run at high operating rates for the remainder of the year.”
Based on these factors, the company expects to report $65-70 million of Adjusted EBITDA for the first quarter of 2014.
“Long-term, we remain confident that our integrated chemicals and building products business will continue to benefit from low-cost natural gas in North America and growing global demand for our broadened product portfolio,” Carrico said.
‘As a brand, Puma is always looking for new and innovative ways to inspire ...
Navigating through catalogues is a bit hasslesome
Shri Dinesh Mills Limited
Broad range of fabrics will sell well this financial year
Incorporated in 1999, Purani Textiless Private Limited is a leading...
Galvanin has more than 50 years of experience in the production of textile ...
Established in 2016, Surat-based Shree Ganesh Yarns is a manufacturer of...
Directa Plus SpA
Established in 2005, Direct Plus SpA, is one of the largest producers and...
University of New South Wales
<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...
UK-based Pireta has developed a unique free-form process to add durable,...
India Boulevard is a San Francisco-based curated fashion marketplace that...
Whistling Woods International School of Fashion
<div>A lack of upgraded courses in costume designing and fashion as per...
<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...