LSB Industries(US:LXU)2023-02-23 16:25Financial 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]