Intrepid Potash misses by $0.09, misses on revs
Reports Q2 (Jun) loss of $0.08 per share, excluding non-recurring items, $0.09 worse than the Capital IQ Consensus Estimate of $0.01; revenues fell 33.6% year/year to $73.65 mln vs the $76.74 mln consensus. Adjusted EBITDA1 was $15.0 million, compared with $28.6 million a year ago.
- Second quarter potash sales volume of 147,000 tons, decreased from last year's second quarter.
- Intrepid`s average net realized sales price per ton was $358, which is $29 per ton higher than the comparable period in 2014 and slightly less than the first quarter of 2015.
- The second quarter per ton cash operating cost of $224, a $36 increase from last year`s second quarter, is expected to be the high point for 2015.
Pot Ash Outlook
- Production (tons) 440-460k
- Sales (tons) 425-445k
- Cash operating costs ($/ton) $190-205
- Total Cogs ($/ton) $275-290