Incitech had traded a little weakly into, and subsequently post Hurricane Ida, given the uncertainty about possible damages to their Louisiana based Waggaman plant.
As such, from today’s announcement, it is good to see the plant is fine, with no material damages.
The earnings hit (~$28m) is a function of just how high DAP prices are, which is a very attractive backdrop to IPL given the compelling share price valuation.
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