LSB Industries(LXU)

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LSB Industries(LXU) - 2023 Q2 - Quarterly Report
2023-07-27 20:09
Environmental Initiatives - The company is developing projects to produce blue and green ammonia, with blue ammonia expected to capture and sequester over 450,000 metric tons of CO2 annually, potentially increasing production to over 375,000 metric tons of blue ammonia [97]. - The company has entered into a non-binding MOU with Amogy Inc. to develop low-carbon ammonia as a marine fuel, focusing on the U.S. inland waterways transportation sector [99]. - The company achieved a key milestone in its blue ammonia project by filing a pre-construction Class VI permit application with the EPA, recognized as complete in March 2023 [97]. Financial Performance - Consolidated net sales for Q2 2023 were $165.8 million, a decrease of 42% compared to $284.8 million in Q2 2022 [125]. - Average selling prices for key products decreased significantly, with ammonia prices dropping by 67% from $1,184 per ton in Q2 2022 to $388 per ton in Q2 2023 [135]. - Gross profit for Q2 2023 was $36.0 million, down 75% from $142.9 million in Q2 2022, resulting in a gross profit percentage of 21.7% compared to 50.2% in the prior year [138]. - Total net sales for the first half of 2023 were $346.8 million, a decrease of 28% compared to $483.8 million in the same period of 2022 [145]. - Adjusted gross profit for the first half of 2023 was $112.0 million, down 59% from $273.3 million in the first half of 2022 [145]. - Net income for the first half of 2023 was $41.0 million, a decline of 75% compared to $162.2 million for the same period in 2022 [145]. Production and Capacity - Ammonia production is targeted at approximately 830,000 to 850,000 tons for 2023, reflecting investments in plant reliability [123]. - The company is evaluating organic capacity expansion opportunities across all facilities, with potential projects expected to enhance annual profitability [100]. - The company has a three-year ammonia plant turnaround cycle, with the next planned for Q3 2024 [122]. Market Dynamics - The U.S. corn market dynamics are favorable, with corn prices above 10-year averages, which may support stronger fertilizer pricing in late 2023 and early 2024 [106]. - The company expects nitrogen pricing to stabilize near current levels, with anticipated demand increases as the 2024 planting season approaches [105]. - The USDA estimates a 62% increase in U.S. ending stocks for the 2023 harvest, indicating a potential impact on fertilizer demand [111]. Cost Management and Investments - The company plans to invest in improving Environmental, Health & Safety and Reliability at its facilities, aiming for a 95% ammonia on-stream operating rate to enhance profitability [95]. - The company is evaluating supply chain efficiencies to mitigate rising transportation costs impacting margins [120]. - Capital expenditures for 2023 are expected to be between $60 million and $80 million, primarily for reliability and maintenance projects [167]. Debt and Cash Management - The company repurchased $125 million in principal amount of Senior Secured Notes for approximately $114.3 million, recognizing a gain on extinguishment of approximately $8.6 million [127]. - Total long-term debt as of June 30, 2023, was $583.6 million, down from $712.3 million at the end of 2022 [166]. - Net cash provided by operating activities was $102.9 million for the first half of 2023, down from $220.8 million in the first half of 2022, a change of $117.9 million [159]. - Net cash provided by investing activities was $30.2 million for the first half of 2023, a significant improvement from net cash used of $341.9 million in the same period of 2022 [162]. - The company has approximately $55.4 million of availability on its undrawn Working Capital Revolver Loan as of June 30, 2023 [167]. - As of June 30, 2023, the company had approximately $314 million in cash and short-term investments [169].
LSB Industries(LXU) - 2023 Q1 - Quarterly Report
2023-05-03 20:08
PART I – Financial Information [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) Unaudited condensed consolidated financial statements for Q1 2023, showing decreased net sales and net income Condensed Consolidated Balance Sheets (Unaudited) | (In Thousands) | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Total current assets** | $579,827 | $566,599 | | **Total assets** | $1,445,770 | $1,439,819 | | **Total current liabilities** | $130,670 | $142,308 | | **Long-term debt, net** | $702,071 | $702,733 | | **Total stockholders' equity** | $529,952 | $515,873 | Condensed Consolidated Statements of Operations (Unaudited) | (In Thousands, Except Per Share) | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | **Net sales** | $180,964 | $198,981 | | **Gross profit** | $41,605 | $90,730 | | **Operating income** | $30,535 | $79,971 | | **Net income** | $15,901 | $58,766 | | **Diluted EPS** | $0.21 | $0.65 | Condensed Consolidated Statements of Cash Flows (Unaudited) | (In Thousands) | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $59,247 | $85,492 | | **Net cash used by investing activities** | ($63,379) | ($97,514) | | **Net cash (used) provided by financing activities** | ($10,688) | $184,177 | | **Net (decrease) increase in cash** | ($14,820) | $172,155 | - The company manufactures and sells chemical products including ammonia, ammonium nitrate (AN), urea ammonium nitrate (UAN), and various acids for agricultural, industrial, and mining applications[24](index=24&type=chunk) Disaggregated Net Sales by Product Type (Unaudited) | (In Thousands) | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | AN & Nitric Acid | $58,272 | $71,800 | | Urea ammonium nitrate (UAN) | $46,590 | $56,569 | | Ammonia | $63,415 | $59,342 | | Other | $12,687 | $11,270 | | **Total net sales** | **$180,964** | **$198,981** | [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=17&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) MD&A for Q1 2023, discussing lower prices, higher volumes, natural gas cost impacts, and key strategic initiatives [Overview and Key Initiatives](index=17&type=section&id=Overview%20and%20Key%20Initiatives) Key initiatives for 2023 focus on EHS, plant reliability, product distribution, mix, and low-carbon ammonia - Key initiatives include improving EHS and reliability, broadening product distribution, optimizing product mix, and developing a strategy for low-carbon ammonia[94](index=94&type=chunk) - The company is evaluating debottlenecking projects to increase production capacity and is continuously assessing strategic acquisition opportunities[99](index=99&type=chunk) [Recent Business Developments](index=18&type=section&id=Recent%20Business%20Developments) LSB signed agreements for low/no-carbon ammonia projects, with Q1 2023 sales volumes offset by lower selling prices - Entered an agreement with Lapis Energy to develop a carbon capture project at the El Dorado facility to produce over **375,000 metric tons of blue ammonia annually** The EPA accepted the pre-construction Class VI permit application in March 2023[96](index=96&type=chunk) - Partnered with Thyssenkrupp and Bloom Energy to develop a project to produce approximately **30,000 metric tons of green ammonia per year** at the Pryor facility[97](index=97&type=chunk) - In Q1 2023, higher sales volumes were more than offset by lower selling prices, primarily due to a decline in European natural gas costs which allowed European ammonia facilities to resume operations[98](index=98&type=chunk)[99](index=99&type=chunk) [Consolidated Results of Operations](index=21&type=section&id=Consolidated%20Results%20of%20Operations) Q1 2023 net sales decreased 9% to $181.0 million, operating income fell 62% to $30.5 million, due to lower prices and higher gas costs Q1 2023 vs Q1 2022 Financial Performance | (In Thousands) | Q1 2023 | Q1 2022 | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | **Total net sales** | $180,964 | $198,981 | ($18,017) | (9%) | | **Gross profit** | $41,605 | $90,730 | ($49,125) | (54%) | | **Operating income** | $30,535 | $79,971 | ($49,436) | (62%) | | **Net income** | $15,901 | $58,766 | ($42,865) | (73%) | Q1 Sales Volume and Average Selling Prices (YoY Change) | Product | Sales Volume Change | Avg. Selling Price Change | | :--- | :--- | :--- | | AN & Nitric Acid | (15%) | (4%) | | UAN | +13% | (27%) | | Ammonia | +47% | (27%) | - The decrease in gross profit was primarily driven by lower sales prices, partially offset by higher sales volumes of ammonia and UAN Profitability was also negatively impacted by higher average natural gas costs (**$5.66/MMBtu** in Q1 2023 vs. **$4.74/MMBtu** in Q1 2022)[115](index=115&type=chunk)[133](index=133&type=chunk) [Liquidity and Capital Resources](index=24&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2023, company held $425.8 million cash/investments, Q1 operating cash flow $59.2 million, expects $60-80 million capex Capitalization Summary | (In Millions) | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Cash and cash equivalents | $48.9 | $63.8 | | Short-term investments | $376.9 | $330.6 | | **Total cash & investments** | **$425.8** | **$394.4** | | **Total long-term debt, net** | **$710.6** | **$712.3** | | **Total stockholders' equity** | **$530.0** | **$515.9** | - Expected capital expenditures for the full year 2023 are approximately **$60 million to $80 million**, mainly for reliability and maintenance capital projects[148](index=148&type=chunk) - The company believes that cash on hand, short-term investments, availability on its revolving credit facility, and cash flow from operations will be sufficient to fund liquidity needs for the next twelve months[149](index=149&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=27&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Market risks include commodity price fluctuations (natural gas, ammonia), forward sales, and interest rates - The company is exposed to commodity price risk as a substantial portion of its products and raw materials are commodities whose prices fluctuate with market supply and demand[167](index=167&type=chunk) - As of March 31, 2023, there were no embedded losses associated with forward sales commitments with firm sales prices[166](index=166&type=chunk) - Interest rate risk is limited as there were no outstanding borrowings on the variable-rate revolving credit facility as of March 31, 2023[168](index=168&type=chunk) [Controls and Procedures](index=27&type=section&id=Item%204.%20Controls%20and%20Procedures) CEO/CFO concluded disclosure controls effective as of March 31, 2023, with no material changes to internal controls - The CEO and CFO concluded that the Company's disclosure controls and procedures were effective as of March 31, 2023[169](index=169&type=chunk) - No changes to internal control over financial reporting occurred during the quarter ended March 31, 2023, that have materially affected, or are reasonably likely to materially affect, internal controls[169](index=169&type=chunk) PART II – Other Information [Legal Proceedings](index=32&type=section&id=Item%201.%20Legal%20Proceedings) Company subject to various legal proceedings, including environmental, West Fertilizer explosion, and contractual disputes - For a detailed discussion of legal matters, the report refers to Note 5—Commitments and Contingencies—Legal Matters in the Notes to the Condensed Consolidated Financial Statements[180](index=180&type=chunk) - Key legal matters discussed in Note 5 include ongoing environmental compliance and remediation, litigation related to the West Fertilizer Co explosion in 2013, and a dispute with contractor Leidos over the El Dorado Ammonia Plant expansion[50](index=50&type=chunk)[65](index=65&type=chunk)[69](index=69&type=chunk) [Risk Factors](index=32&type=page&id=Item%201A.%20Risk%20Factors) No material changes to risk factors previously disclosed in the company's 2022 Form 10-K - There are no material changes from the risk factors disclosed in the company's 2022 Form 10-K[181](index=181&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=32&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This item is reported as not applicable for the period - Not applicable[182](index=182&type=chunk) [Exhibits](index=32&type=section&id=Item%206.%20Exhibits) Index of exhibits filed with Form 10-Q, including corporate governance documents and CEO/CFO certifications - The report includes an index of exhibits, listing documents such as the Restated Certificate of Incorporation, Bylaws, and CEO/CFO certifications pursuant to the Sarbanes-Oxley Act[184](index=184&type=chunk)
LSB Industries(LXU) - 2023 Q1 - Earnings Call Transcript
2023-05-03 17:41
Financial Data and Key Metrics Changes - The company generated adjusted EBITDA of $51 million in Q1 2023, down from $101 million in Q1 2022, primarily due to lower selling prices for nitrogen products [12][13] - The net debt to trailing 12-month EBITDA leverage ratio was less than one times, significantly below the target leverage ratio of below 2.5 times in a normalized pricing environment [6][39] - Cash flow from operations was $59 million, with capital expenditures of $18 million, resulting in free cash flow of $41 million and a free cash flow conversion rate of over 80% [39] Business Line Data and Key Metrics Changes - The industrial business demand remained steady, with stable nitric acid demand and strong demand for AN in mining applications due to infrastructure growth and electric vehicle production [5] - Despite a decline in market prices for nitrogen products, production and sales volume increased compared to the previous year, attributed to investments in facilities and improved operational reliability [9][40] Market Data and Key Metrics Changes - Domestic and worldwide stock-to-use ratios for corn are at multi-year lows, with expectations for corn prices to remain high due to low planting ratios [4][10] - The NOLA UAN benchmark pricing was approximately $275 per ton in Q2 2023, lower than the realized prices for Q1 2023, while the Tampa ammonia benchmark price settled at $380 per metric ton in May, down from an average of $728 per metric ton in Q1 2023 [14] Company Strategy and Development Direction - The company aims to achieve zero recordable injuries and environmental releases, with a target of 95% capacity utilization for ammonia plants [16] - Future project feasibility studies are expected to be completed by the end of Q2 2023, with potential investment decisions not anticipated until the second half of 2024 [17][18] - The company is focusing on blue and green ammonia projects to lead in decarbonizing the industry, which are expected to enhance profitability and shareholder value [45][46] Management's Comments on Operating Environment and Future Outlook - Management expects a strong year-over-year increase in production and sales volume, despite lower selling prices, leading to healthy profitability and cash flow for 2023 [11][19] - The company anticipates that the spring planting season will drive higher overall sales volumes in Q2 2023 compared to Q2 2022, offsetting some price declines [15] - Management noted that while product selling prices have decreased, they believe prices are at or near a bottom, particularly for ammonia [41] Other Important Information - The company had approximately $426 million in cash and short-term investments at the end of Q1 2023, with plans for potential stock buybacks discussed in the upcoming board meeting [39][76] - The company will participate in several upcoming conferences, including the Goldman Sachs Leveraged Finance Conference and the Wells Fargo Industrial Conference [20] Q&A Session Summary Question: Pricing outlook for Q2 and beyond - Management acknowledged that it would be challenging for realized pricing in Q2 to exceed Q1 levels, but stabilizing prices could help in the second half of the year [22] Question: Volume expectations due to delayed season - Management does not foresee an impact on overall volume targets, expecting farmers to make up nitrogen shortfalls [23] Question: Natural gas hedging and pricing sensitivity - Management confirmed that 90% of natural gas needs are hedged, with expectations for gas prices around $3.40 per MMBtu for Q2 and $370 for the second half of the year [41][79] Question: Inventory levels and market conditions - Management indicated that inventory levels are in line with the previous year, with some length in the ammonia market but tighter conditions for urea and UAN [63] Question: Future capital allocation plans - Management is considering stock buybacks and debt reduction as part of their capital allocation strategy, with no major capital decisions expected until H2 2024 [76][77]
LSB Industries(LXU) - 2023 Q1 - Earnings Call Presentation
2023-05-03 15:06
EPS $0.21 $0.66 Adjusted EPS1 $0.25 $0.69 Q1 2023 EARNINGS PRESENTATION Statements in this presentation that are not historical are forward‐looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward‐looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance including the effects of the COVID‐19 pandemic and anticipated performance based on our grow ...
LSB Industries(LXU) - 2022 Q4 - Annual Report
2023-02-23 21:08
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 1-7677 LSB INDUSTRIES, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 73-1015226 (State of o ...
LSB Industries(LXU) - 2022 Q4 - Earnings Call Transcript
2023-02-23 20:41
Financial Data and Key Metrics Changes - The company reported a record adjusted EBITDA of $105 million for Q4 2022, up from $90 million in Q4 2021, reflecting a year-over-year growth of approximately 17% [11][26] - Adjusted EPS for the quarter was $0.90, indicating strong financial performance [11] - For the full year 2022, sales and adjusted EBITDA increased by 62% and 117% respectively compared to 2021 [16] Business Line Data and Key Metrics Changes - The company experienced strong demand for nitrogen fertilizers, which is expected to continue as planting season approaches [8] - Sales volumes were lower in Q4 due to planned turnaround activities and weather impacts, but higher sales volumes are anticipated in 2023 [29][44] - The company expects a significant year-over-year increase in ammonia production and sales volumes in 2023 due to no scheduled turnarounds [10][30] Market Data and Key Metrics Changes - Corn prices remain above multi-year averages, driven by global factors, and are expected to stay high through 2023, leading to increased planted acres [20][21] - The domestic end-use markets for industrial products are stronger than those in Europe and Asia, supporting business stability [22] - Natural gas prices in Europe have declined, impacting pricing for nitrogen products, but demand trends remain solid [9][51] Company Strategy and Development Direction - The company is focusing on becoming a leader in the clean energy sector, with agreements to develop low and no carbon ammonia projects [17][34] - Investments in facilities are expected to enhance safety, reliability, and production capacity, contributing to profitability [19][53] - The company aims to increase production capacity through debottlenecking initiatives and is evaluating multiple projects for this purpose [36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in robust profitability and cash flow for 2023, despite expectations of lower EBITDA due to moderating nitrogen prices [45][10] - The company anticipates that the absence of turnarounds in 2023 will lead to significant production increases [39] - Management highlighted the importance of safety and environmental stewardship as core values driving operational decisions [6][35] Other Important Information - The company ended 2022 with approximately $458 million in total liquidity, including $394 million in cash and short-term investments [41] - A significant portion of cash flow from operations was returned to shareholders through share repurchases, with approximately 60% of free cash flow allocated for this purpose [25][41] - The company is pursuing a federal grant under the USDA's fertilizer production expansion program to support its growth initiatives [61][94] Q&A Session Summary Question: What is the expectation for cash taxes in 2023? - Management indicated that they do not expect to be a material cash taxpayer in 2023 due to the utilization of net operating losses [128] Question: Can you discuss the nitrogen market and distributor buying? - Management noted that there has been a standoff in the market, but they expect increased buying as the planting season approaches [60][72] Question: What is the timeline for the CCS Class 6 well permit? - Management expressed confidence in their application, stating it is comprehensive and that they expect the approval process to take 18 to 24 months [74][80] Question: How is the company addressing the drought conditions affecting crop production? - Management acknowledged the impact of droughts but noted that good crop conditions in Brazil could offset some negative effects [110][132] Question: What is the company's strategy regarding share repurchases versus debt reduction? - Management is evaluating the best use of cash, considering both share repurchases and debt reduction as viable options [125][146]
LSB Industries(LXU) - 2022 Q4 - Earnings Call Presentation
2023-02-23 16:25
Financial Performance - Record Q4 Adjusted EBITDA was $105 million[14], compared to $90 million in Q4 2021[19] - Net sales increased by 23% year-over-year, reaching $234 million[16] compared to $190 million[16], driven by higher selling prices[30] - Adjusted EBITDA margin was 45%[18] compared to 47% in the fourth quarter of 2021[5] - The company repurchased $175 million of stock in 2022 at an average price of ~$13 per share[40] - Free Cash Flow Conversion was 79%[50] Liquidity and Debt - Cash & ST Investments were $394 million[50] as of December 31, 2022, compared to $82 million[50] as of December 31, 2021 - Total liquidity was $458 million[50] compared to $143 million[50] - Net debt/TTM Adjusted EBITDA was less than 1X[38], below the 2.5X target level[38] Production and Sales Outlook - Ammonia production for 2023 is projected to be between 830,000 and 850,000 tons[67], compared to 732,000 tons in 2022[67] - Sales volume for AN & Nitric Acid in 2023 is budgeted at 590,000 - 610,000 tons[64], compared to 589,000 tons in 2022[64] - Sales volume for UAN in 2023 is budgeted at 330,000 - 350,000 tons[67], compared to 276,000 tons in 2022[67] Low Carbon Initiatives - The company is developing a Blue Ammonia project expected to capture and sequester >450,000 MT of CO2 annually[72], reducing CO2 emissions by 25%[72] - A Green Ammonia project is planned with expected production of ~30,000 MT of green ammonia per year[72]
LSB Industries(LXU) - 2022 Q3 - Quarterly Report
2022-11-02 20:17
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-Q For the transition period from to Commission file number 1-7677 LSB Industries, Inc. (Exact name of Registrant as specified in its charter) Delaware 73-1015226 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 3503 NW 63 Street, Suite 500, Oklahoma City, Oklahoma 73116 (Address of principal executive offices) (Zip Code) rd ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF T ...
LSB Industries(LXU) - 2022 Q3 - Earnings Call Transcript
2022-11-02 19:29
Financial Data and Key Metrics Changes - The company reported a record adjusted EBITDA of $50 million for Q3 2022, compared to $38 million in Q3 2021, reflecting strong year-over-year growth despite two planned turnarounds [13][18][25] - Adjusted EPS for the quarter was $0.27, indicating solid profitability [14] - Total liquidity at the end of the quarter was approximately $450 million, including about $385 million in cash and short-term investments [14][17] Business Line Data and Key Metrics Changes - The company experienced lower production volumes due to planned turnarounds, resulting in a loss of approximately 53,000 tons of ammonia production [20][81] - Pricing for industrial products remained stable, with favorable trends in nitrogen fertilizer pricing due to strong demand [11][12] Market Data and Key Metrics Changes - Corn prices remained elevated due to global factors, with expectations for continued high prices into 2023, which is expected to drive increased planted acres [9][10] - The mining market has strengthened significantly, leading to increased demand and pricing for mining products [12] Company Strategy and Development Direction - The company plans to capitalize on a strong pricing environment in 2023 to generate significant free cash flow and pursue business expansion opportunities [30] - There is a focus on improving manufacturing capabilities and increasing production capacity through debottlenecking initiatives [32][39] - The company is advancing clean energy initiatives, including blue and green ammonia projects, which are expected to reduce carbon footprint and improve economics due to federal incentives [34][38] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about strong profitability and cash flow for Q4 2022 and into 2023, despite challenges from planned turnarounds [12][25] - The company anticipates that natural gas prices will trend back to previous levels, impacting the supply-demand balance for nitrogen products [22][23] Other Important Information - The Board increased the stock repurchase program by an additional $75 million, bringing the total authorization to $175 million [15] - Capital expenditures for 2022 are expected to be in the range of $60 million to $65 million, with potential increases for 2023 [99][100] Q&A Session Summary Question: What are the assumptions regarding inland pricing for the fourth quarter? - Management expects pricing to remain in line with current levels, with normalization anticipated over 2023 [43] Question: How will the company execute on the buyback increase? - The company has opportunities to purchase stock in the market and may negotiate with large shareholders for additional repurchases [45][46] Question: Is there potential for industrial nitrogen products to tighten under gas rationing? - Management indicated that if ammonia prices rise, other nitrogen prices would likely follow, benefiting the company [49] Question: Can you clarify the USDA initiative and funding qualifications? - The company intends to apply for the grant, which is available to producers not in the top four fertilizer producers in the U.S. [54][57] Question: How is the company responding to the Mississippi River issues? - The company does not rely heavily on the river for product movement, but is monitoring the railroad situation for potential impacts [62] Question: What portion of fourth quarter revenue will be at summer field pricing? - Management confirmed that none of the fourth quarter revenue will be at summer field pricing [74] Question: What is driving the relative strength of UAN compared to urea? - UAN pricing remains strong due to favorable market conditions, while urea pricing is experiencing volatility [76][78] Question: Can you provide an update on the blue ammonia project? - The Class 6 permit application is expected to be filed by early Q2 2023, with the project anticipated to be operational by 2025 [85]
LSB Industries (LXU) Investor Presentation - Slideshow
2022-08-24 15:44
| --- | --- | --- | --- | --- | |-----------------------------------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | LSB Industries | | | | | | Investor Presentation (NYSE: LXU) | | | | | | August 2022 | | | | | | | | | | | Legal Disclaimers Forward Looking Statements Statements in this presentation that are not historical are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements, which ...