On Yesterday, Ciner Resources LP (NYSE: CINR) oscillated between $17.01 and $17.42 before concluding trading period lower -0.35% at $17.24. The stock recorded total trading quantity of 16,056 shares as compared to its average volume of 49,806 shares. The share price fluctuated between $16.81 to $28.44 during the 52-week trading period. The firm has a total market worth of $340.29M and $18.90M shares remain outstanding.
Ciner Resources LP (NYSE: CINR) recently stated its financial and operating results for the first quarter ended March 31, 2019.
Net sales increased by 7.6% to $130.4M for the three months ended March 31, 2019 from $121.2M for the three months ended March 31, 2018, driven by a raise in average sales prices of 6.1% as well as a 1.4% increase in soda ash volumes sold. The increase in sales prices is primarily driven by a raise in domestic and international pricing during the three months ended March 31, 2019, partially offset by a shift in our sales mix between domestic and international sales volumes contrast to the first quarter of 2018. Our volumes sold have increased as a result of higher ore grade which resulted in higher production during the first quarter of 2019.
Cost of products sold, including depreciation, depletion and amortization expense and freight costs, increased by 3.5% to $96.5M for the three months ended March 31, 2019 from $93.2M for the three months ended March 31, 2018, primarily Because of a raise in freight costs as well as higher variable production costs for the quarter primarily as a result of increased sales and production volumes contrast to the first quarter of 2018.
Our selling, general and administrative expenses increased 15.6% to $7.4M for the three months ended March 31, 2019, contrast to $6.4M for the three months ended March 31, 2018. The primary driver for the increase in selling, general and administrative costs were higher legal fees related to our cogeneration project as well as ongoing discussions related to our exit from ANSAC. In addition, we had about $0.3M in expenses associated with supporting start-up costs related to our Turkish associate’s importation of soda ash into the eastern seaboard.
As a result of the foregoing, operating income increased by 22.7% to $26.5M for the three months ended March 31, 2019, contrast to $21.6M for the three months ended March 31, 2018.
As a result of the foregoing, net income increased by 20.6% to $25.2M for the three months ended March 31, 2019, contrast to $20.9M for the three months ended March 31, 2018.
Patricia Ramirez – Basic Materials
My name is Patricia Ramirez, and I am the mainstream behind the”cryptonewsplus.com” for the powerful and most delicate insights into the latest activities in the Basic Materials category. I started my journey as an independent financial consultant. I had approximately five years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.
Address: 713 Haul Road
Eagan, MN 55121, United States of America
Phone Number: +1 651 235 0141