Intrepid Potash (IPI) reported earnings on Mon 9 May 2016 (b/o)

** charts after earnings **

 

Intrepid Potash misses by $0.06, beats on revs; reaches agreement with credit facility lender:

Reports Q1 (Mar) loss of $0.22 per share, $0.06 worse than the Capital IQ Consensus of ($0.16); revenues fell 37.4% year/year to $73.28 mln vs the $54.73 mln Capital IQ Consensus.

• Intrepid sold 218,000 tons of potash in the first quarter of 2016, down 13,000tons, or 6%, from the same period last year primarily as a result of the timingof shipments to customers. Average net realized sales price per potash ton in the 2016 first quarter was $216, a 40% decrease from last year's firstquarter and a 22% decrease sequentially from the fourth quarter of 2015.
• Potash production for the first quarter of 2016 totaled 215,000 tons, a declineof 9% compared to the year-ago quarter as a result of deferred production at theHB facility from early in the first quarter to the second quarter.
• Cash, cash equivalents, and investments as of March 31, 2016, totaled $54.9 million. Cash flow used in operations for the first quarter of 2016 was $1.1 million and capital expenditures totaled $6.0 million.