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Ultrapar minimizes May strike impact, posts modest gain in net income

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Ultrapar minimizes May strike impact, posts modest gain in net income

Ultrapar Participações S.A. reported second-quarter net income of 240.7 million Brazilian reais, up slightly from the 236.6 million reais reported in the same quarter a year ago.

The modest increase comes with a rise in total revenue, which amounted to 22.65 billion reais, up 19% from the 19 billion reais posted during the corresponding period of 2017. Operating income for the quarter was 431.5 million reais compared to 468.3 million reais in the second quarter of 2017. In addition, the firm noted that a nationwide trucker's strike back in May negatively impacted all of its businesses and generated a financial impact of approximately 200 million reais.

The firm's Ipiranga business made up the bulk of its revenue. Net sales for the quarter amounted to 19.07 billion reais, up from 16.10 billion reais in the second quarter of 2017. The Oxiteno segment generation net sales of 1.18 billion reais, up from 885.1 million reais in the second quarter of 2017. The Ultragaz business reported net sales of 1.76 billion reais, rising from the 1.47 billion reais noted during the corresponding period in 2017.

In addition, the Extrafarma business saw net sales of 529 million reais, up from the 454.3 million reais posted during the same quarter in 2017. The Ultracargo segment's second-quarter net sales were pegged at 126.6 million reais compared to the 106.4 million reais posted in the same period in 2017.

As of Aug. 1, US$1 was equivalent to 3.75 Brazilian reais.