|
 |
|
|
|||
|
 |
|
May 9, 2024 Source: Intrepid Potash news release Denver, CO -- Intrepid Potash, Inc. ( (NYSE:IPI) today reported its results for the first quarter of 2024. Key Highlights for First Quarter 2024 Financial & Operational *Total sales of $79.3 million, which compares to $86.9 million in the first quarter of 2023. *Net loss of $3.1 million (or $0.24 per diluted share), which compares to net income of $4.5 million (or $0.35 per diluted share) in the first quarter of 2023. *Gross margin of $6.4 million, which compares to $16.4 million in the first quarter of 2023. *Cash flow provided by operations of $41.5 million, which compares to $8.4 million of cash flow provided by operations in the first quarter of 2023. First quarter 2024 cash flow from operations includes $45 million received from XTO Holdings under the amended Cooperative Development Agreement. *Adjusted EBITDA(1) of $7.7 million, which compares to $16.4 million in the first quarter of 2023. *Potash and Trio sales volumes of 74 thousand and 91 thousand tons, respectively, which compares to the first quarter of 2023 of 89 thousand and 65 thousand tons, respectively. *Potash and Trio average net realized sales prices(1) of $395 and $300 per ton, respectively, which compares to the first quarter of 2023 of $485 and $344 per ton, respectively. Management & Board of Director Updates On April 16, 2024, Intrepid's Executive Chairman and CEO, Bob Jornayvaz, was granted a temporary medical leave of absence. In connection with Mr. Jornayvaz's leave of absence, the Board appointed Matt Preston, Chief Financial Officer, as acting principal executive officer and appointed Intrepid's co-founder, Hugh Harvey, as a Class III Director. The Board also temporarily delegated all responsibilities of the Chairman of the Board to Barth Whitham, Intrepid's Lead Director. To read the entire report click here. Tweet |
|
|
|
|
|
|
|
|
|||||||||||||
