Intrepid Potash Q3 Loss Wider Than Estimates - Quick Facts

(RTTNews) - Intrepid Potash Inc. (IPI) reported that its loss for the third quarter widened from last year on a double-digit decline in revenues. Loss per share was wider than analysts' estimates.

The company's third-quarter net loss was $18.24 million or $0.24 per share, wider than net loss of $8.1 million, or $0.11 per share in the year-ago period.

Adjusted net loss was $0.23 per share, compared with adjusted loss of $0.06 per share in the same period last year. On average, analysts polled by Thomson Reuters expected the company to report loss of $0.12 per share. Analysts' estimates typically exclude special items.

Sales for the quarter declined 18.7 percent to $43.64 million from $53.69 million in the year-ago period. Analysts had a consensus revenue estimate of $35.83 million.

The company noted that potash pricing drove potash sales revenue decline of 16 percent to $35.4 million. Trio sales revenue declined 29 percent to $8.3 million, driven by a 28 percent decline in average net realized sales prices per ton.

Intrepid Potash is the only U.S. producer of muriate of potash and supplied approximately 9 percent of the country's annual consumption in 2015.