Intrepid Potash misses by $0.02, beats on revs :
- Reports Q2 (Jun) loss of $0.17 per share, excluding non-recurring items,$0.02 worse than the Capital IQ Consensus of ($0.15); revenues fell 29.7% year/year to $51.8 mln vs the $49.52 mln Capital IQ Consensus.
- Potash production for the second quarter and first half of 2016 declined 24% and 15%, respectively, compared to the year-ago comparable periods.
- Second quarter 2016 potash production was impacted by the transition of the East facility to Trio-only production in April 2016 and, to a lesser extent, by unfavorable evaporation rates at certain of Intrepid's solar solution mines during the summer of 2015, which limited the length of the spring 2016 harvest season.
- Potash production for the second quarter includes a full quarter of potash production from the West facility, which was placed in care-and-maintenance mode in July 2016.
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