Intrepid Potash reports Q1 EPS 5c, consensus 4c
Reports Q1 revenue $57.6M, consensus $53.9M. "Higher realized prices for potash and Trio and a great quarter from our diverse revenue streams of byproducts, water, and mixing services contributed to another year-over-year improvement in our quarterly results," said Bob Jornayvaz, Intrepid's Executive Chairman, President, and CEO. "Our focus on revenue diversification is paying off with a significant increase in salt sales during the quarter and additional traction for our high-speed mixing service as we completed multiple jobs and fielded inquiries about expanding our service into the Permian Basin. Water infrastructure projects around our Carlsbad facilities are nearing completion and drilling activity in southeast New Mexico continues at a staggering pace. This activity supports our expectation for strong water sales in the coming months and gives us confidence in the growth and long-term potential of our water business. We are seeing solid potash and Trio sales as the spring agricultural season wraps up, and we expect to deliver a strong second quarter with a significant increase in cash flow from operations as compared to the first quarter."