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LSB Industries, Inc. reports developments in its ammonia and ammonia-related chemical business for agricultural, industrial and mining end markets. The company manufactures ammonia, ammonium nitrate, nitric acid and urea ammonium nitrate, with facilities in Cherokee, Alabama, El Dorado, Arkansas and Pryor, Oklahoma, and an operated facility in Baytown, Texas.
Recurring news covers quarterly operating results, product sales by AN and nitric acid, UAN and ammonia, market conditions for fertilizer and mining explosives, product-volume outlooks, investor conference participation and board governance changes. Company updates also discuss demand drivers such as corn fertilizer application, copper and gold mining activity, industrial nitric acid demand and North American ammonium nitrate supply conditions.
LSB Industries, Inc. reported first-quarter results for 2024, with net sales of $138 million compared to $181 million in 2023, net income of $6 million compared to $16 million, and diluted EPS of $0.08 compared to $0.21. Adjusted EBITDA was $33 million compared to $51 million. The company repurchased shares and Senior Secured Notes, holding $265 million in cash and short-term investments as of March 31, 2024. President and CEO Mark Behrman highlighted a solid increase in sales volumes due to strong demand for fertilizers, generating solid cash flow. LSB remains committed to clean ammonia initiatives and aims to become a leader in low-carbon ammonia production. The market outlook for nitrogen fertilizers is favorable, with strong demand and pricing stability. LSB is progressing on its low-carbon ammonia projects and expects to see positive results in the near future.
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