Intrepid Potash Q1 Profit Increases, beats estimates

(RTTNews) - Intrepid Potash (IPI) revealed earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $31.42 million, or $2.31 per share. This compares with $2.45 million, or $0.18 per share, in last year's first quarter.

Excluding items, Intrepid Potash reported adjusted earnings of $31.52 million or $2.32 per share for the period.

Analysts on average had expected the company to earn $1.95 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 46.1% to $104.40 million from $71.46 million last year.

Intrepid Potash earnings at a glance (GAAP) :

-Earnings (Q1): $31.42 Mln. vs. $2.45 Mln. last year. -EPS (Q1): $2.31 vs. $0.18 last year. -Analyst Estimate: $1.95 -Revenue (Q1): $104.40 Mln vs. $71.46 Mln last year.