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. (NYSE:LXU) announced that an affiliate of Eldridge Industries LLC plans to sell 14,350,000 shares of common stock under an automatic shelf registration with the SEC. The selling stockholder may grant the underwriters a 30-day option for an additional 1,627,500 shares. LSB intends to repurchase 3,500,000 shares from the underwriters at the offering price using cash on hand. Completion of the offering is subject to market conditions. UBS and Goldman Sachs will serve as lead managers.
LSB Industries (NYSE: LXU) reported record third-quarter results for 2022, achieving net sales of $184 million, up 45% from $127 million in 2021. Adjusted EBITDA rose to $50 million compared to $38 million last year, with adjusted EPS of $0.27, up from $0.07. The company repurchased approximately 7 million shares and maintained total liquidity of around $450 million as of September 30, 2022. Despite reduced volumes due to scheduled maintenance, LSB remains optimistic about market conditions and plans for ongoing operational improvements and decarbonization projects.
LSB Industries has increased its stock repurchase program from $100 million to $175 million. Approximately $75 million remains available for repurchases. This decision reflects the company's strong liquidity and operational cash flow, along with a positive outlook for Q4 2022 and full year 2023. The repurchase program allows for flexibility in share repurchases, which can be adjusted based on market conditions and other factors. LSB aims to balance shareholder value with growth investments.
LSB Industries, Inc. (NYSE: LXU) announced that CFO Cheryl Maguire will participate in the Morgan Stanley Global Chemicals, Agriculture, and Packaging Conference on November 9 in Boston, MA. Individual meetings will be held throughout the day, starting at 8:45 AM ET, and require prior appointment. Interested parties can schedule a meeting through their Morgan Stanley representative or contact Fred Buonocore. A presentation will be available on the company's website during the conference. LSB specializes in chemical manufacturing for various markets and aims to reduce its environmental impact.
LSB Industries, Inc. (NYSE: LXU) will release its third-quarter financial results for the period ending September 30, 2022 on November 1, 2022, after market close. A conference call is scheduled for November 2, 2022 at 10:00 am ET to discuss these results, featuring CEO Mark Behrman and CFO Cheryl Maguire. Investors can access the call via telephone or listen to a webcast available on LSB's website. The company is recognized for its chemical products aimed at agricultural and industrial markets, with a commitment to reducing environmental impact.
LSB Industries, Inc. (NYSE: LXU) announced that Cheryl Maguire, Executive Vice President & CFO, will participate in the Credit Suisse 35th Annual Specialties & Basics Conference on September 14, starting at 9:30 am ET. Ms. Maguire will be available for one-on-one meetings throughout the day, which are available by appointment only. Interested parties can schedule meetings through their Credit Suisse institutional sales representatives or by contacting Fred Buonocore. The presentation will be accessible on LSB's Investors webpage.
LSB Industries, Inc. (NYSE: LXU) announced that President & CEO, Mark Behrman, will speak at the Seaport Research Partners Annual Summer Investor Virtual Conference on August 23 at 9:30 am ET. He will also hold one-on-one meetings during the day, available by appointment through Seaport Research Partners. LSB will provide a presentation accessible on their website. The company operates in the chemical manufacturing sector, focusing on agricultural and industrial markets, with a commitment to reducing environmental impact.
LSB Industries (NYSE:LXU) announced the pricing of a public offering of 13,500,000 shares at $13.00 each, expected to close on August 15, 2022. Proceeds will go to selling stockholders, while LSB intends to repurchase 5,500,000 shares from underwriters using cash on hand. The offering follows an automatic shelf registration statement filed with the SEC. Goldman Sachs and UBS are leading the offering.
The offering will not involve any shares sold by LSB, and the completion is subject to customary closing conditions.
LSB Industries, Inc. (NYSE:LXU) announced an offering of 13,500,000 shares of common stock by affiliates of Eldridge Industries, with an option for underwriters to purchase an additional 1,200,000 shares. The selling stockholders will receive all proceeds, while LSB plans to repurchase 5,500,000 shares from underwriters at the offering price. The transaction is subject to market conditions and completion timing is uncertain. Goldman Sachs and UBS are leading the offering, which follows an effective registration statement from March 28, 2022.
LSB Industries (NYSE: LXU) has expanded its stock repurchase program from $50 million to $100 million. Approximately $85 million is still available for repurchases. This increase reflects the company's strong balance sheet, profitability, and robust free cash flow generated in Q2 2022. CEO Mark Behrman stated that the repurchase program aims to enhance shareholder value while maintaining operational improvements and exploring growth opportunities. The timing of repurchases will depend on market conditions and the company's financial performance.