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Mar. 8, 2023 Source: Intrepid Potash news release Denver, CO -- Intrepid Potash, Inc. (NYSE:IPI) ("Intrepid", the "Company", "we", "us", "our") today reports its financial results for the fourth quarter and full-year of 2022. Key Financial & Operational Highlights for Fourth Quarter and Full-Year 2022 *Total sales of $66.7 million in the fourth quarter and $337.6 million for the full-year 2022, as potash and Trio average net realized sales prices increased to $713 and $479 per ton, respectively. *Net income of $4.0 million (or $0.30 per diluted share) and $72.2 million (or $5.37 per diluted share) in the fourth quarter and full-year 2022 respectively, and adjusted net income(1) of $11.0 million and $80.4 million, respectively. *Adjusted EBITDA(1) of $23.1 million for the fourth quarter, bringing full-year 2022 adjusted EBITDA to $141.8 million. *Cash flow from operations of $19.7 million in the fourth quarter, increasing full-year 2022 cash from operations to $88.8 million; the full-year figure includes an outflow of $32.6 million related to a customer refund in the third quarter of 2022. *Income tax expense of approximately $24 million for 2022, but the utilization of our deferred tax assets resulted in cash taxes of approximately $1 million. *In 2022, capital spending totaled $68.7 million, within our guidance range of $65 to $75 million. To read the entire report click here. Tweet |
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