SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
March 29, 1994
IMC FERTILIZER GROUP, INC.
(Exact name of registrant as specified in charter)
Delaware 1-9759 36-3492467
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
2100 Sanders Road, Northbrook, IL 60062
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (708) 272-9200
Item 5. Other Events
The following is the text of a press release relating to third
quarter pre-tax earnings estimates.
NORTHBROOK, IL., March 29, 1994 -- IMC Fertilizer Group, Inc.
(NYSE symbol: IFL) announced today that based on preliminary results,
the Company expects its pre-tax earnings for its third fiscal quarter
ended March 31, 1994, before any third-quarter writedown of its
investments in oil and gas which may be required by the recent
decline in crude oil prices, to be in line with analysts' current
estimates, which the Company believes to be approximately $20
million.
The Company also noted today that as a result of an improved
earnings outlook for the year, its estimated annual effective tax
rate will be reduced to approximately 50 percent from the 68 percent
rate used in the first half to calculate income tax benefit. Because
of pre-tax losses incurred in the first half, this will result in an
increase in the third quarter tax provision of approximately $5
million to reflect the reduction of the tax benefit recorded in the
first half. Consequently, the third quarter tax rate is expected to
be approximately 75 percent.
The Company believes that when its earnings return to higher
profitability levels, its effective tax rate will more closely
approximate the statutory 39 percent. The Company expects to release
its earnings for its fiscal third quarter ended March 31 on April 11,
1994.
The Company also confirmed its intention to resume production at
its Nichols, FL, phosphate chemical facility on approximately May 1.
This action, which is in accordance with the Company's philosophy of
operating its facilities consistent with demand requirements, is
being taken as a result of lower finished goods inventories and to
meet anticipated international demand.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
IMC FERTILIZER GROUP, INC.
Robert C. Brauneker
Executive Vice President and
Chief Financial Officer
Date: March 29, 1994
