Terra Nitrogen Company, L.P. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2013; Declares Cash Distribution, Payable on August 29, 2013
For the first six months of 2013, the company reported net earnings of $316.1 million on net sales of $439.5 million. This compares to net earnings of $279.0 million on net sales of $392.5 million for the first six months of 2012. Net earnings allocable to common units was $176.2 million or $9.52 per common unit and $156.4 million or $8.45 per common unit for the first six months of 2013 and 2012, respectively. Results for the first six months of 2013 included a $0.8 million unrealized mark-to-market gain on natural gas derivatives compared to a gain of $2.5 million for the first six months of 2012.
The company declared a cash distribution for the quarter ended June 30, 2013, of $4.02 per common limited partnership unit payable August 29, 2013, to holders of record as of August 16, 2013.