Intrepid Potash Q4 net loss $37.3M on $42.8M impairment; sales down 15% for 2023

Intrepid Potash, Inc.

Full-year 2023 sales $279M vs $338M in 2022; net loss $35.7M ($2.80/sh) includes $43.3M impairment.
Adjusted EBITDA 2023 $41.6M; adjusted net loss $3.0M. Potash avg realized price $466/ton (-35% YoY).
Received $50M upfront from XTO amendment; additional guaranteed $50M payment and up to $100M possible.
Cash $35.4M as of March 1, 2024; liquidity $185.4M with zero revolver borrowings.
2024 capex guidance $40-50M; HB solution mine projects on track for higher production from H2 2024.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Intrepid Potash, Inc. reported fourth quarter and full-year 2023 results: revenue Total sales of $56.7 million in the fourth quarter and $279.1 million for the full-year 2023., net income Net loss of $37.3 million (or $2.91 per diluted share) and $35.7 million (or $2.80 per diluted share) in the fourth quar, EPS $2.91 per diluted share and $2.80 per diluted share, respectively.

Period: fourth quarter and full-year 2023
Revenue: Total sales of $56.7 million in the fourth quarter and $279.1 million for the full-year 2023.
Net income: Net loss of $37.3 million (or $2.91 per diluted share) and $35.7 million (or $2.80 per diluted share) in the fourth quar
EPS: $2.91 per diluted share and $2.80 per diluted share, respectively
Result: reported results

Exact text from the filing

Intrepid Potash, Inc. issued a press release announcing its financial results and operating highlights for the fourth quarter and full year ended 2023.

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Source: SEC EDGAR

accession 0001421461-24-000010

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