Intrepid Potash Q1 net loss $3.1M; sales down 9% YoY; CEO on medical leave

Intrepid Potash, Inc.

2024-Q1 EPS reported -$0.24

Sales $79.3M (down 9% YoY); net loss $0.24/diluted share vs net income $0.35 prior year.
Adjusted EBITDA $7.7M vs $16.4M; potash avg net realized price $395/ton (down 19%).
Trio sales volume 91k tons (+40% YoY); Trio segment gross deficit $1.1M vs margin $1.5M.
CEO Bob Jornayvaz on temporary medical leave; CFO Matt Preston appointed acting principal executive officer.
Cash from ops $41.5M incl $45M from XTO; liquidity $196.5M; FY2024 capex guidance $40-50M.

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 the first quarter of 2024 results: revenue $79.3 million, net income Net loss of $3.1 million (or $0.24 per diluted share), EPS $0.24 per diluted share.

Period: the first quarter of 2024
Revenue: $79.3 million
Net income: Net loss of $3.1 million (or $0.24 per diluted share)
EPS: $0.24 per diluted share
Result: reported results

Exact text from the filing

In the first quarter of 2024, Intrepid generated sales of $79.3 million , a 9% decreas e from first quarter 2023 sales of $86.9 million. Consolidated gross margin totaled $6.4 million, while net loss totaled $3.1 million, or a net loss of $0.24 per diluted share, which compares to first quarter 2023 net income of $4.5 million, or $0.35 per diluted share.

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Source: SEC EDGAR

accession 0001421461-24-000021

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