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Last $11.94 USD
Change Today +0.04 / 0.34%
Volume 485.5K
IPI On Other Exchanges
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Exchange
New York
As of 8:04 PM 05/28/15 All times are local (Market data is delayed by at least 15 minutes).

intrepid potash inc (IPI) Key Developments

Intrepid Potash, Inc. Announces Unaudited Consolidated Earnings and Production Results for the First Quarter Ended March 31, 2015; Provides Production and Earnings Guidance for the First Half, Second Half, and Full Year of 2015

Intrepid Potash Inc. announced unaudited consolidated earnings and production results for the first quarter ended March 31, 2015. For the quarter, the company reported sales of $117.021 million against $98.875 million a year ago. Operating income was $10.762 million against operating loss of $2.040 million a year ago. Income before income taxes was $9.600 million against loss before income taxes of $3.133 million a year ago. Net income was $6.529 million against net loss of $0.355 million a year ago. Net cash provided by operating activities was $32.674 million against $17.324 million a year ago. Additions to property, plant, equipment, and mineral properties were $8.678 million against $31.919 million a year ago. Adjusted net income was $6.529 million adjusted net loss of $1.027 million a year ago. Adjusted EBITDA was $32.520 million $16.776 million a year ago. Net cash provided by operating activities was $32.674 million against $17.324 million a year ago. Additions to property, plant, equipment and mineral properties were $8.678 million against $31.919 million a year ago. Adjusted EPS was $0.09 a share. For the quarter, the company reported potash production volume of 237,000 tons against 220,000 tons a year ago. Langbeinite production volume was 36,000 tons against 32,000 tons a year ago. Potash sales volume was 231,000 tons against 242,000 tons a year ago. Trio sales volume was 62,000 tons against 36,000 tons a year ago. The company provided production and earnings guidance for the first half, second half, and full year of 2015. The company slightly modified its potash sales outlook for the first half and full year to reflect potentially less customer restocking in the second quarter. While potash prices for the remainder of this year may be further pressured from global producers, Intrepid expects to maintain its historical average net realized sales price advantage over the other North American competitors. The company tightened its first half sales outlook for Trio to incorporate strong first quarter results. Production outlook is unchanged. Potash production expected to be in the range of 390,000 tons 410,000, Potash sales expected to be in the range of 400,000 tons - 415,000 tons. Trio production expected to be in the range of 75,000 tons - 90,000 tons, Trio sales expected to be in the range of 95,000 tons - 105,000 tons. Interest expense expected to be in the range of $3.0 million - $3.5 million, depreciation, depletion, and accretion expected to be in the range of $37.5 million - $42.5 million. For the second half, the company’s potash production expected to be in the range of 460,000 tons 490,000, Potash sales expected to be in the range of 425,000 tons - 445,000 tons. Trio production expected to be in the range of 80,000 tons - 95,000 tons, Trio sales expected to be in the range of 85,000 tons - 100,000 tons. Interest expense expected to be in the range of $3.0 million - $3.5 million, depreciation, depletion, and accretion expected to be in the range of $37.5 million - $42.5 million. The company affirmed its full-year potash production volume and per ton cost outlooks. The normal annual production seasonality of the low cost solar tons and the timing of annual maintenance outages at the West Mine will impact second quarter potash production volume, and therefore, per ton cost of goods sold and cash operating costs. Potash production expected to be in the range of 850,000 tons 900,000, Potash sales expected to be in the range of 825,000 tons - 860,000 tons. Trio production expected to be in the range of 155,000 tons - 185,000 tons, Trio sales expected to be in the range of 180,000 tons - 205,000 tons. Interest expense expected to be in the range of $6.0 million - $7.0 million, depreciation, depletion, and accretion expected to be in the range of $75 million - $85 million. The company continue to anticipate capital investment range between $40 million and $50 million for 2015 and expect the year to be cash flow positive. The company expects an effective tax rate for 2015 of around 30%. Although the effective tax rate has increased as a result of strong first quarter 2015.

Intrepid Potash, Inc. Presents at BMO Capital Markets 10th Annual Farm to Market Conference 2015, May-20-2015 09:00 AM

Intrepid Potash, Inc. Presents at BMO Capital Markets 10th Annual Farm to Market Conference 2015, May-20-2015 09:00 AM. Venue: Grand Hyatt New York, New York, New York, United States. Speakers: Brian D. Frantz, Interim Chief Financial Officer and Principal Accounting Officer.

Intrepid Potash, Inc. to Report Q1, 2015 Results on Apr 28, 2015

Intrepid Potash, Inc. announced that they will report Q1, 2015 results Pre-Market on Apr 28, 2015

Intrepid Potash, Inc., Q1 2015 Earnings Call, Apr 28, 2015

Intrepid Potash, Inc., Q1 2015 Earnings Call, Apr 28, 2015

Intrepid Potash, Inc., Annual General Meeting, May 27, 2015

Intrepid Potash, Inc., Annual General Meeting, May 27, 2015., at 10:00 US Mountain Standard Time. Location: Denver City Center, Telluride/Aspen Conference Rooms. Agenda: To consider and elect two class I directors nominated by board to serve three-year terms expiring at 2018 annual meeting of stockholders; to consider and ratify the appointment of KPMG LLP, or KPMG, as independent registered public accounting firm for 2015; to consider and approve, on an advisory basis, executive compensation; and to consider and transact any other business that properly comes before the meeting and any adjournment or postponement of the meeting.

 

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