Intrepid Potash's Q4 Earnings Miss Estimates, Revenues Down Y/Y

Core Insights - Intrepid Potash, Inc. (IPI) reported a significant loss of $16.04 per share in Q4 2024, compared to a loss of $2.91 per share in the same quarter last year [1] - Adjusted loss for the quarter was 11 cents per share, an improvement from a loss of 41 cents a year ago, while the Zacks Consensus Estimate was earnings of a penny per share [1] Financial Performance - The company recorded revenues of $55.8 million for the quarter, reflecting a decline of approximately 2% year over year [2] - Potash segment revenues increased by roughly 1% year over year to about $28.9 million, exceeding the consensus estimate of $17.2 million, driven by higher sales volumes despite a decline in average net realized sales price per ton [3] - Trio unit revenues reached around $23.5 million, up approximately 11% year over year, also above the consensus estimate of $14.2 million, attributed to higher sales volumes and increased average net realized sales price per ton [4] - Oilfield Solutions unit revenues were approximately $3.5 million, down around 50% year over year, falling short of the consensus estimate of $6.3 million due to the timing of water sales [4] - For the full year 2024, the company reported a loss of $16.53 per share, compared to a loss of $2.80 the previous year, with sales declining around 9% year over year to approximately $254.7 million, primarily due to lower volumes and prices in the potash segment [5] Financial Position - At the end of 2024, the company had approximately $41.3 million in cash and cash equivalents, with no outstanding borrowings on its $150 million revolving credit facility [6] - Cash flow from operations was $7.6 million for the quarter and $72.5 million for the full year 2024 [6] Future Outlook - The company anticipates capital expenditures between $36 million and $42 million for 2025, focusing primarily on sustaining capital [7] - Plans for 2025 include building on significant improvements in potash production from the previous year while maintaining a focus on operational efficiencies and cost controls to enhance margins [7] Market Performance - Shares of Intrepid Potash have increased by 16.4% over the past year, contrasting with a decline of 3.9% in the Zacks Fertilizers industry [8]