Intrepid Potash Q3 net income $13.1M ($0.97 EPS), sales up 26% to $74.8M

Intrepid Potash, Inc.

2022-Q3 EPS reported $5.03

Net income $13.1M ($0.97 diluted EPS) vs $4.0M ($0.30) in Q3 2021; adjusted EBITDA $27.0M, up $13.9M YoY.
Potash avg realized price $734/ton (+93% YoY) offset 26% volume decline to 46k tons; Trio avg price $488/ton (+45%) on 39k tons.
Oilfield solutions sales $8.4M (+26%) but gross margin fell to $0.4M from $0.7M due to higher costs.
Liquidity ~$195M: $46M cash, $149M on amended revolver ($150M, extended to Aug 2027); refunded $32.6M prepayment.
Full-year 2022 capex guidance $65-75M; repurchased 71k shares under $35M program.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Intrepid Potash, Inc. reported third quarter of 2022 results: revenue $74.8 million, net income $13.1 million, EPS $0.97 per diluted share.

Period: third quarter of 2022
Revenue: $74.8 million
Net income: $13.1 million
EPS: $0.97 per diluted share
Result: reported results

Exact text from the filing

Intrepid generated third quarter 2022 sales of $74.8 million, which compares to third quarter 2021 sales of $59.2 million. Consolidated gross margin in third quarter of 2022 totaled $26.8 million, while net income totaled $13.1 million, or $0.97 per diluted share

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Source: SEC EDGAR

accession 0001421461-22-000031

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