---
schema_version: "secwatch.filing_event.v1"
accession: "0001421461-23-000014"
form_type: "8-K"
ticker: "IPI"
cik: "0001421461"
company_name: "Intrepid Potash, Inc."
filed_at: "2023-05-03T23:59:59+00:00"
generated_at: "2026-06-16T00:46:54.166395+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001421461-23-000014
- form_type: 8-K
- ticker: IPI
- cik: 0001421461
- company_name: Intrepid Potash, Inc.
- filed_at: 2023-05-03T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1421461/000142146123000014/0001421461-23-000014-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1421461/000142146123000014/ipi-20230503.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001421461-23-000014
- JSON: https://secwatch.observer/filing/0001421461-23-000014.json
- Plain text: https://secwatch.observer/filing/0001421461-23-000014.txt

## Key facts
- Earnings Releases
  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
  source text: "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. •
  evidence_url: https://www.sec.gov/Archives/edgar/data/1421461/000142146123000014/0001421461-23-000014-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.