Intrepid Potash Q1 net income falls 86% to $4.5M as potash prices decline 31% YoY

Intrepid Potash, Inc.

2023-Q1 EPS reported $0.35

Net income $4.5M ($0.35 diluted EPS) vs $31.4M ($2.31) in Q1 2022; sales $86.9M (-17%).
Potash segment: 89K tons sold (+29% YoY) but avg realized price $485/ton (-31%), gross margin $14.4M vs $29.1M.
Trio segment: 65K tons sold (-8%), avg price $344/ton (-27%), gross margin $1.5M vs $16.1M.
Adjusted EBITDA $16.4M vs $50.2M; cash from ops $8.4M vs $34.1M.
Liquidity $159.5M; capex guidance $60-75M for 2023; Q1 capex $21.0M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Intrepid Potash, Inc. reported first quarter of 2023 results: revenue $86.9 million, net income $4.5 million (or $0.35 per diluted share), EPS $0.35 per diluted share.

Period: first quarter of 2023
Revenue: $86.9 million
Net income: $4.5 million (or $0.35 per diluted share)
EPS: $0.35 per diluted share
Result: reported results

Exact text from the filing

"Company", "we", "us", "our") (NYSE:IPI) today reported its results for the first quarter of 2023. Key Highlights for First Quarter 2023 Financial & Operational • Total sales of $86.9 million, which compares to $104.4 million in the first quarter of 2022, as Potash and T rio ® average net realized sales prices (1) decreased to $485 and $344 per ton, respectively. •

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Source: SEC EDGAR

accession 0001421461-23-000014

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