Intrepid Potash Q2 Profit Increases, but misses estimates

(RTTNews) - Intrepid Potash (IPI) reported earnings for its second quarter that increased from the same period last year but missed the Street estimates.

The company's earnings came in at $23.71 million, or $1.74 per share. This compares with $19.50 million, or $1.46 per share, in last year's second quarter.

Excluding items, Intrepid Potash reported adjusted earnings of $24.77 million or $1.82 per share for the period.

Analysts on average had expected the company to earn $1.99 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 35.1% to $91.74 million from $67.89 million last year.

Intrepid Potash earnings at a glance (GAAP) :

-Earnings (Q2): $23.71 Mln. vs. $19.50 Mln. last year. -EPS (Q2): $1.74 vs. $1.46 last year. -Analyst Estimate: $1.99 -Revenue (Q2): $91.74 Mln vs. $67.89 Mln last year.