Intrepid Potash Earnings Reports

Intrepid Potash posted Q4 2024 revenue of $55.8 million, nearly flat compared to Q4 2023. The company recorded a GAAP net loss of $207.0 million, mainly due to a non-cash valuation allowance against deferred tax assets. Adjusted EBITDA stood at $8.6 million, supported by higher potash production and increased Trio segment sales. The company ended the year with $41.3 million in cash and no outstanding borrowings on its credit facility.

Intrepid Potash, Inc. reported a 6% increase in sales to $57.5 million for Q3 2024, compared to $54.5 million in Q3 2023. The company's net loss narrowed to $1.8 million (or $0.14 per diluted share) from a net loss of $7.2 million (or $0.56 per diluted share) year-over-year. Adjusted EBITDA increased to $10.0 million, up from $2.2 million in the same period last year.

Intrepid Potash reported a decrease in sales and profitability for Q2 2024 compared to Q2 2023. Sales decreased by 23% to $62.1 million, and the company experienced a net loss of $0.8 million. Despite these challenges, Intrepid saw improvements in its Trio® segment, with increased production rates and decreased costs.

Intrepid Potash reported a decrease in sales and a net loss for Q1 2024 compared to the previous year. While Trio sales volumes increased, lower pricing for key products drove down profitability. The company is focused on increasing potash production in the second half of the year to improve unit economics.

Intrepid Potash reported fourth quarter sales of $56.7 million and a net loss of $37.3 million, which included non-cash impairment charges of $42.8 million. Adjusted EBITDA for the quarter was $7.1 million. The company received an initial $50 million payment related to the Third Amendment to the Cooperative Development Agreement with XTO Holdings.

Intrepid Potash reported a decrease in sales to $54.5 million compared to $74.8 million in Q3 2022. The company experienced a net loss of $7.2 million, a significant change from the net income of $13.1 million in the same quarter last year. Adjusted EBITDA also decreased to $2.2 million from $27.0 million in Q3 2022 due to lower pricing for key products and increased cost of goods sold.

Intrepid Potash reported second quarter 2023 sales of $81.0 million, a 12% decrease from the previous year. Net income totaled $4.3 million, or $0.33 per diluted share, a significant decrease from $23.7 million, or $1.74 per diluted share, in the second quarter of 2022. Adjusted EBITDA was $15.8 million, down from $41.5 million in the same prior year period.

Intrepid Potash's Q1 2023 sales decreased by 17% to $86.9 million compared to Q1 2022, with net income significantly dropping to $4.5 million from $31.4 million year-over-year. The decline was primarily due to lower average net realized sales prices for potash and Trio, although sales volumes for both products increased.

Intrepid Potash, Inc. reported its financial results for the fourth quarter and full-year of 2022. The company generated fourth quarter sales of approximately $67 million. Adjusted EBITDA was $23.1 million for the fourth quarter, bringing full-year 2022 adjusted EBITDA to $141.8 million.

Intrepid Potash reported strong Q3 2022 results driven by high potash and Trio® prices. Total sales reached $74.8 million, a $15.6 million increase compared to Q3 2021. Net income improved by $9.1 million to $13.1 million (or $0.97 per diluted share), and adjusted EBITDA increased by $13.9 million to $27.0 million.

Intrepid Potash reported strong financial results for Q2 2022, with sales of $91.7 million, a net income of $23.7 million, and adjusted EBITDA of $41.5 million. The company benefited from high prices for potash and Trio, and is progressing on production improvement projects and a new frac sand project.

Intrepid Potash, Inc. reported a significant increase in sales and profitability for Q1 2022. Total sales increased to $104.4 million, net income reached $31.4 million, and adjusted EBITDA was $50.2 million. The company benefited from higher realized prices for potash and Trio® and is implementing projects to improve production volume.

Intrepid Potash reported a net income of $223.9 million for the fourth quarter of 2021, which includes a $215.9 million release of valuation allowance for deferred tax assets. Adjusted EBITDA for the quarter was $24.8 million. The company highlighted strong commodity environment and rising fertilizer prices as key drivers.

Intrepid Potash reported a net income of $4.0 million, or $0.30 per share, for the third quarter of 2021. The company's gross margin increased to $10.6 million, and adjusted EBITDA was $13.1 million. The company added a production shift at its East mine in September to incrementally increase production.

Intrepid Potash reported a net income of $19.5 million, or $1.46 per share, and adjusted net income of $7.4 million, or $0.55 per share for Q2 2021. The company's gross margin increased to $14.2 million compared to a gross deficit in the prior year. Cash flow from operations was $32.3 million for the quarter.

Intrepid Potash, Inc. reported a net income of $2.5 million, or $0.18 per share, for the first quarter of 2021. The company's gross margin increased by $3.5 million, or 62%, compared to the first quarter of 2020. Cash flow from operations was $19.1 million, and adjusted EBITDA was $12.9 million.

Intrepid Potash, Inc. reported a net loss of $0.7 million, or $(0.05) per share, for Q4 2020, which contributed to a full-year net loss of $27.2 million. However, the company saw a $9.5 million improvement in the bottom line compared to Q3 2020, with positive momentum across all segments. Adjusted EBITDA was $9.7 million for the quarter, and cash flow from operations reached $12.7 million.

Intrepid Potash reported a net loss of $10.2 million, or $0.78 per share, for Q3 2020. Adjusted EBITDA was $1.5 million. Water sales increased by 42% compared to the second quarter of 2020. The company anticipates continued improvements in demand and expects solid cash flow during the spring season due to favorable potash pond levels and recent price increases.

Intrepid Potash reported a net loss of $8.9 million, or $0.07 per share, for Q2 2020. The results were impacted by the COVID-19 pandemic, which led to decreased oilfield activity and water sales. The company repaid the remaining $15 million of outstanding principal on its Series C Senior Notes and had $14 million in cash on hand.