Intrepid Potash Posts Narrower Loss In Q2 - Quick Facts

(RTTNews) - Intrepid Potash, Inc. (IPI) reported that its second-quarter net loss narrowed to $5.9 million, or $0.05 per share, compared with a net loss of $13.4 million, or $0.18 per share, in the second quarter of 2016. The company said the improvements in year-over-year net loss per share amounts were partly driven by an increase in outstanding shares from the March 2017 secondary offering.

Second-quarter sales decreased to $43.91 million from $51.84 million, prior year. Trio sales volume was 59,000 tons in the second quarter, a 79% increase compared to the previous year, mostly offset by lower Trio pricing.

"Our strategy to shift to solar-only potash production and expand Trio sales paid off in the second quarter with improved potash margins and a year-over-year increase in Trio sales volume," said Bob Jornayvaz, Intrepid's CEO.