Intrepid Q3 net loss narrows to $1.8M; CEO steps down; capex guidance trimmed

Intrepid Potash, Inc.

2024-Q3 EPS reported -$0.45

Net loss $1.8M ($0.14/diluted share) vs loss $7.2M ($0.56) YoY; adjusted EBITDA $10.0M vs $2.2M.
CEO Bob Jornayvaz stepped down Oct 4, 2024; CFO Matt Preston acts as principal executive officer; CEO search ongoing.
Potash sales volumes 54K tons (+17%), avg price $356/ton (-18%); potash gross margin improved to $4.1M.
Oilfield solutions posted record quarterly sales of $10.3M (large frac at Intrepid South); segment gross margin $3.1M.
Capex guidance lowered to $37-40M from $40-50M; Phase Two HB Brine Injection Pipeline completed.

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