Innophos Holdings surges 21% after swinging to Q1 profit

Innophos Holdings, Inc. (Nasdaq:IPHS) shares are surging 21% after the phosphate producer reported late Monday that it swung to a first-quarter profit of $9.3 million, or $0.43 per share, versus a loss of $2.1 million a year earlier. Wall Street analysts, on average, expected earnings of $0.23 per share.

Revenue for the three months ended March 31 increased 19% to $162.5 million from $136.7 million a year earlier. Analysts anticipated $161.4 million in revenue.

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