Welcome to our dedicated page for Intrepid Potash news (Ticker: IPI), a resource for investors and traders seeking the latest updates and insights on Intrepid Potash stock.
Intrepid Potash Inc (IPI) serves as America's only domestic potash producer, delivering essential agricultural nutrients and oilfield solutions through innovative solar evaporation techniques. This dedicated news hub provides investors and industry professionals with timely updates on operational developments, financial milestones, and market leadership in sustainable mineral production.
Access comprehensive coverage of IPI's core activities including potash production updates, Trio® fertilizer innovations, and oilfield service expansions. Our curated collection features official press releases, earnings reports, and strategic announcements – all vital for understanding the company's role in agriculture, energy, and industrial markets.
Key content categories include production capacity changes, sustainability initiatives, product line enhancements, and operational efficiency achievements. Regular updates ensure stakeholders maintain current awareness of IPI's market position as a low-cost producer leveraging unique solar evaporation technology.
Bookmark this page for direct access to primary source materials from Intrepid Potash Inc. Check back frequently for new developments impacting fertilizer markets, oilfield services, and domestic mineral production capabilities.
Intrepid Potash (NYSE:IPI) reported a net loss of $0.7 million, or $(0.05) per share, in Q4 2020, an improvement from a $10.2 million loss in Q3 2020. The adjusted EBITDA for the quarter was $9.7 million with a cash flow from operations of $12.7 million. Potash sales rose to $27.6 million, driven by strong domestic demand and favorable weather. However, the company faced challenges with decreased gross margins in both potash and Trio® segments. The total net loss for 2020 was $27.2 million, highlighting ongoing impacts from the COVID-19 pandemic.
Intrepid Potash Inc. (NYSE: IPI) will release its fourth quarter 2020 financial results on March 1, 2021, after market closure. A conference call is scheduled for March 2, 2021, at 12:00 p.m. ET to discuss the results and address investor inquiries. The call can be accessed at 1-800-319-4610 from the U.S. and Canada, or +1-631-891-4304 internationally, and will be streamed live on Intrepid's website. A recording of the call will be available shortly thereafter and through June 2, 2021. Intrepid specializes in essential mineral products for agriculture and industry.
Intrepid Potash (NYSE:IPI) has announced an increase in potash prices by $50 per ton, effective February 8, 2021, bringing the price to $140 above the summer-fill value of 2020. This rise is attributed to strong early season demand for fertilizer, bolstered by increasing commodity prices and tightening inventory levels. Executive Chairman Bob Jornayvaz noted that farmers are eager to replenish nutrients to maximize yields, leading to historic booking volumes. Intrepid, the only U.S. producer of muriate of potash, operates three solar solution potash facilities and one conventional mine.
Intrepid Potash Inc. (NYSE:IPI) reported significant price increases for potash and Trio®, with potash up 31% and Trio® up 27% compared to 2020 summer-fill pricing. The current potash price is $65 per ton above January 2020 levels, while Trio® is $50 per ton above the same benchmark. The company anticipates an improved oilfield outlook in the Northern Delaware Basin due to increased drilling activity. Intrepid plans to capitalize on strong early season demand amid favorable fertilizer economics and robust agricultural commodity prices.
Intrepid Potash reported a Q3 2020 net loss of $10.2 million, equivalent to $0.78 per share, as the company faced challenges from the COVID-19 pandemic. Adjusted EBITDA was $1.5 million, while water sales surged 42% quarter-over-quarter to $3.6 million. Potash and Trio® pricing increased by $30 and $25 per ton, respectively. Although operational challenges persisted, summer evaporation levels were better than average, potentially reducing future production costs. Year-to-date net loss totaled $26.4 million, with expectations of continued adverse impacts from the pandemic.
Intrepid Potash Inc. (NYSE: IPI) will release its third quarter 2020 financial results on November 2, 2020, after market close. A conference call is scheduled for November 3, 2020, at 12:00 p.m. Eastern Time to discuss results and answer investor questions. The call can be accessed via a dial-in number or streamed live on Intrepid's website. A replay will be available post-call until December 3, 2020. Intrepid is the only U.S. producer of muriate of potash and also produces Trio®, contributing essential nutrients for agriculture and industrial applications.
Intrepid Potash announced a 1-for-10 reverse stock split effective August 13, 2020, to enhance stock liquidity, marketability, and compliance with NYSE requirements. This move reduces outstanding shares from approximately 133 million to 13 million. The authorized shares will also decrease from 400 million to 40 million, maintaining proportionality. Stockholders will receive adjusted shares automatically, with no fractional shares issued. The company aims to focus on its core operations while ensuring compliance with regulatory standards.
Intrepid Potash reported a net loss of $8.9 million for Q2 2020, equating to $0.07 per share. The company saw a significant decline in operations, impacted by the COVID-19 pandemic, with cash flow from operations at $8.8 million. Total cash on hand after recent debt repayment stood at $14 million. Potash sales fell to $24.5 million, driven by lower sales volumes and prices. A reverse stock split was approved by shareholders, with plans to discuss execution on August 10, 2020. The company continues to navigate economic challenges while managing its balance sheet prudently.
Intrepid Potash announced that stockholders approved a reverse stock split of common shares at a ratio between 1-for-3 to 1-for-15 during a meeting on July 28, 2020. The Board will convene on August 10, 2020, to discuss the exact ratio. Additionally, on July 24, 2020, Intrepid received a notice for non-compliance with NYSE listing standards due to its stock closing below $1.00 for 30 consecutive days. The Company has six months to regain compliance to avoid delisting while continuing to trade under the symbol IPI.
Intrepid remains operational and considers options to meet NYSE requirements.
Intrepid Potash announced the early paydown of its Series C senior notes amounting to $17.1 million, including principal and accrued interest, which was paid entirely from cash on hand. Following this payment, Intrepid holds approximately $14 million in cash, $30 million under its revolving credit, and $15 million remaining on its Series B notes. The company plans to utilize available credit to support its business strategy, particularly in expanding oilfield solutions. Intrepid remains optimistic about its long-term prospects in the Delaware Basin.
