LSB Industries, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 01, 2023 at 04:10 pm EDT
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LSB Industries, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 114.29 million compared to USD 184.27 million a year ago. Net loss was USD 7.73 million compared to net income of USD 2.31 million a year ago. Basic loss per share from continuing operations was USD 0.1 compared to basic earnings per share from continuing operations of USD 0.03 a year ago. Diluted loss per share from continuing operations was USD 0.1 compared to diluted earnings per share from continuing operations of USD 0.03 a year ago.
For the nine months, sales was USD 461.1 million compared to USD 668.06 million a year ago. Net income was USD 33.27 million compared to USD 164.48 million a year ago. Basic earnings per share from continuing operations was USD 0.44 compared to USD 1.89 a year ago. Diluted earnings per share from continuing operations was USD 0.44 compared to USD 1.86 a year ago.
LSB Industries, Inc. is primarily engaged in the manufacturing and marketing of chemical products for the agricultural, industrial and mining markets. The Company manufactures products for three principal markets: agricultural, industrial and mining. Its agricultural products include ammonia, fertilizer-grade ammonium nitrate (AN), high-density ammonium nitrate (HDAN) and urea ammonia nitrate (UAN). Its industrial products include high-purity and commercial-grade ammonia, high-purity AN, sulfuric acids, concentrated, blended and regular nitric acid, mixed nitrating acids, carbon dioxide, and diesel exhaust fluid (DEF). Its mining products include industrial-grade AN (LDAN) and AN solutions. It owns and operates three multi-plant facilities in El Dorado, Arkansas, Cherokee, Alabama, and Pryor, Oklahoma. Its products are sold through distributors and directly to end customers throughout the United States and parts of Canada and the North America.