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Mar 31, 2021
LSB Industries Q1 2021 Earnings Report
LSB Industries reported double-digit revenue and adjusted EBITDA growth due to improving end-market fundamentals.
Key Takeaways
LSB Industries reported a strong first quarter with year-over-year improvements in net sales and adjusted EBITDA, driven by robust agricultural demand, price improvements, and the recovery of industrial end markets. The company is also focusing on developing a green ammonia strategy.
Net sales increased to $98.1 million compared to $83.4 million in the first quarter of 2020.
Adjusted EBITDA grew to $17.3 million compared to $15.6 million in the first quarter of 2020.
Sales commenced under a new seven-year nitric acid offtake agreement.
Total liquidity was approximately $56.0 million as of March 31, 2021.
Forward Guidance
LSB Industries anticipates significant growth in net sales and adjusted EBITDA for the full year relative to 2020, driven by favorable dynamics in the agricultural and industrial markets.
Positive Outlook
- Strong farmer incomes in 2020.
- Increased demand for corn from China and other countries.
- Dry conditions in South America.
- Strong demand and significant increase in pricing for fertilizers.
- Key industrial end markets have recovered to pre-pandemic levels.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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