Intrepid Potash, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 02, 2023 at 04:15 pm EDT
Share
Intrepid Potash, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 81.04 million compared to USD 91.74 million a year ago. Net income was USD 4.31 million compared to USD 23.71 million a year ago. Basic earnings per share from continuing operations was USD 0.34 compared to USD 1.79 a year ago. Diluted earnings per share from continuing operations was USD 0.33 compared to USD 1.74 a year ago.
For the six months, sales was USD 167.96 million compared to USD 196.14 million a year ago. Net income was USD 8.81 million compared to USD 55.13 million a year ago. Basic earnings per share from continuing operations was USD 0.69 compared to USD 4.18 a year ago. Diluted earnings per share from continuing operations was USD 0.68 compared to USD 4.03 a year ago.
Intrepid Potash, Inc. is a diversified mineral company that delivers potassium, magnesium, sulfur, salt, and water products for customers in agriculture, animal feed and the oil and gas industry. Its segments include potash, Trio, and oilfield solutions. Its three primary products are potash, Trio, and water. It also sells salt, magnesium chloride, metal recovery salts, brines, and water that are derived as part of its mining processes. It sells potash into three primary markets: the agricultural market as a fertilizer input, the industrial market as a component in drilling and fracturing fluids for oil and gas wells and an input to other industrial processes, and the animal feed market as a nutrient supplement. Trio is its specialty fertilizer that delivers potassium, sulfate, and magnesium in a single particle. It sells water primarily for industrial uses in the oil and gas services industry. Its other oilfield related offerings include caliche, right-of-way agreements, and others.
INTREPID POTASH, INC. 
