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Mar 31, 2023
LSB Industries Q1 2023 Earnings Report
LSB Industries reported results for the first quarter ended March 31, 2023.
Key Takeaways
LSB Industries reported net sales of $181 million, a decrease compared to $199 million in the first quarter of 2022. Net income was $16 million, also lower than the $59 million reported in the same period last year. The company generated solid free cash flow and maintained a strong balance sheet.
Net sales decreased to $181 million compared to $199 million in the first quarter of 2022.
Net income declined to $16 million from $59 million in the first quarter of 2022.
EPS was $0.21, down from $0.66 in the first quarter of 2022.
Adjusted EBITDA was $51 million, compared to $101 million in the first quarter of 2022.
Revenue by Segment
Forward Guidance
Nitrogen fertilizer prices have moderated due to a decline in European production costs and a delay in spring fertilizer application. However, nitrogen pricing remains at attractive levels and appears to have stabilized with potential for improvement as 2023 progresses.
Positive Outlook
- Nitrogen pricing remains at attractive levels.
- Potential for pricing improvement as 2023 progresses.
- Favorable demand outlook due to low corn stock/use ratios.
- Corn prices remain significantly above 10-year averages.
- USDA projects an increase in corn acres planted.
Challenges Ahead
- Nitrogen fertilizer prices have moderated.
- Decline in European production costs.
- Delay in spring fertilizer application in the U.S.
- Lower demand for ammonia from Asian industrial markets.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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