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Aug. 7, 2024 Source: Intrepid Potash news release DENVER -- Intrepid Potash, Inc. ("Intrepid", the "Company", "we", "us", or "our") (NYSE:IPI) today reported its results for the second quarter of 2024. Key Highlights for Second Quarter 2024 Financial & Operational *Total sales of $62.1 million, which compares to $81.0 million in the second quarter of 2023. *Net loss of $0.8 million (or $0.06 per diluted share), which compares to net income of $4.3 million (or $0.33 per diluted share) in the second quarter of 2023. *Gross margin of $7.6 million, which compares to $15.4 million in the second quarter of 2023. *Cash flow provided by operations of $27.7 million, which compares to $30.5 million in the second quarter of 2023. *Adjusted EBITDA (1) of $9.2 million, which compares to $15.8 million in the second quarter of 2023. *Potash and Trio sales volumes of 55 thousand and 63 thousand tons, respectively, which compares to 79 thousand and 63 thousand tons, respectively, in the second quarter of 2023. *Potash and Trio average net realized sales prices (1) of $405 and $314 per ton, respectively, which compares to $479 and $333 per ton, respectively, in the second quarter of 2023. Management & Board of Directors Update On July 10, 2024, we announced that the Board of Directors ("the Board") of Intrepid elected Barth Whitham, formerly Lead Independent Director, as its Chair. On that date, the Board also announced that it initiated a search process to identify a successor for Intrepid's CEO, Bob Jornayvaz, who is currently out on an extended medical leave of absence, as it is unlikely that Mr. Jornayvaz will return to his CEO role. During this process, Intrepid's CFO, Matt Preston, will continue to serve as acting principal executive officer, working closely with the rest of the Company's management team and the Board. To read the entire report click here. Tweet |
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