Terra Nitrogen Company, L.P. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2013. The company reported net earnings of $149.3 million on sales of $215.4 million for the quarter ended June 30, 2013. This compares to net earnings of $154.8 million on sales of $195.6 million for the 2012 second quarter. Net income allocable to common units was $84.0 million or $4.54 per common unit and $86.5 million or $4.67 per common unit for the 2013 and 2012 second quarters, respectively. Results for the second quarter of 2013 included an unrealized mark-to-market loss on natural gas derivatives of $2.9 million compared to a gain of $13.8 million in the second quarter of 2012. This decrease in net earnings was due to higher realized natural gas costs, which were offset partially by higher revenue.

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.