Shares of ICL Group (NYSE: ICL), a leading global specialty minerals company, soared 6.52% on Friday, November 11, 2024, following the company's strong third-quarter results and an upward revision to its full-year earnings guidance.
In its third-quarter earnings release, ICL Group reported adjusted earnings per share of $0.11, beating the analyst consensus estimate of $0.08. However, revenue of $1.75 billion narrowly missed expectations of $1.79 billion. Despite the slight revenue miss, the company's focus remained on its improved outlook for the full year.
ICL Group raised its guidance for full-year 2024 specialties-driven EBITDA to a range of $0.95 billion to $1.05 billion, up from the previous guidance of $0.8 billion to $1.0 billion. This upward revision in earnings outlook signaled the company's expectation of stronger financial performance in 2024, fueling investor optimism and driving the stock's surge.
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