05:30 PM EDT, 08/14/2024 (MT Newswires) -- Chemtrade Logistics Income Fund (CHE-UN.TO) after trade Wednesday reported a fall in second-quarter earnings, on higher costs.

The chemicals producer said it earned $14.6 million in the period, down 83% from $72.7 million in the year-prior period, mainly due to lower adjusted EBITDA, higher net finance costs, and higher income tax expense.

Revenue 4.7% to $448.1 million.

"Results for the first half of 2024 have exceeded our internal expectations and we have seen this momentum continue into the third quarter of the year," said chief executive Scott Rook. "As a result, we now expect that our Adjusted EBITDA for the full year of 2024 will be within the range of $430 million to $460 million, an increase from our previous range of $395 million to $435 million."

Chemtrade units closed Wednesday at $9.46, up $0.06 on the Toronto Stock Exchange.