Alberta chemicals for 2013

Other blogs have accused this blog of being overly optimistic when it comes to forecasts for company earnings or stock prices.For example, I had predicted that Canexus' share price would likely be at $10.00 by May but in fact it has been floundering in the $9.20 to $9.50 range although there is still some time to go yet.Canexus released it's fourth quarter results and they were encouraging but the stock hovered in the same range.However Canexus' guidance is even more encouraging .They state that there will be an increase in hydrochloric acid capacity in quarter 1 and 3 of 2013.The increases will double it's capacity  from that of 2012.Also operations will advance at it's Bruderheim(Alberta) terminal.It's truck to rail transload capacity of 30,000 barrels a day will be completed in quarter 2 of 2013.This will tie -in with it 's increased capacity of hydrchloric acid expansion in Vancouver.The Bruderheim operation includes pipeline connected to unit train operations,which connect to MEG Energy pipelines.There is also record sodium chlorate production at their Brandon plan predicted for 2013.
Cash operating profit was a record $134 million for 2012 and $35 million for the fourth quarter.Canexus forecasts cash operating profit for 2013 of $155 to $165 million for the full year coming.I have assumed that about 90% of the increase in profit will flow through to earnings as only taxes increase with the extra earnings unless there is a large impairment charge.This puts distrubable earnings for the year at about $1.20 per share.This is up from $.87 per share.
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