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Intrepid Potash, Inc. IPI recorded a loss of $16.04 per share in fourth-quarter 2024, wider than a loss of $2.91 per share in the year-ago quarter.
Barring one-time items, the adjusted loss in the reported quarter was 11 cents per share, compared with a loss of 41 cents a year ago. The Zacks Consensus Estimate was earnings of a penny per share.
Find the latest earnings estimates and surprises on Zacks Earnings Calendar.
The company registered revenues of $55.8 million for the quarter, down around 2% year over year.
Intrepid Potash, Inc Price, Consensus and EPS Surprise
Intrepid Potash, Inc price-consensus-eps-surprise-chart | Intrepid Potash, Inc Quote
IPI’s Segment Highlights
Revenues in the Potash segment rose roughly 1% year over year to roughly $28.9 million in the reported quarter. It was above the consensus estimate of $17.2 million. Higher sales volumes were mostly offset by a decline in average net realized sales price per ton.
The Trio unit raked in revenues of around $23.5 million, up around 11% year over year. The metric was above the consensus estimate of $14.2 million. The upside was driven by higher sales volumes and increased average net realized sales price per ton.
Revenues from the Oilfield Solutions unit were roughly $3.5 million, down around 50% year over year. This figure was below the consensus estimate of $6.3 million. Sales were impacted by the timing of water sales.
IPI’s FY24 Results
Loss (as reported) for full-year 2024 was $16.53 per share, compared with a loss of $2.80 a year ago. Sales fell around 9% year over year to roughly $254.7 million. The decline in sales was mainly due to lower volumes and prices in the potash segment.
Intrepid Potash’s Financials
The company had roughly $41.3 million in cash and cash equivalents and no outstanding borrowings on its $150 million revolving credit facility at the end of 2024.
Cash flow from operations was $7.6 million in the reported quarter and $72.5 million for full-year 2024.
IPI’s Outlook
The company sees capital expenditure of between $36 million and $42 million for 2025, with the majority being sustaining capital.
In 2025, the company plans to build on the significant improvements in potash production it saw last year while also maintaining its focus on operational efficiencies and cost controls to drive margins.
IPI’s Price Performance
Shares of Intrepid Potash have gained 16.4% in a year compared with the Zacks Fertilizers industry’s decline of 3.9%.
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IPI’s Zacks Rank & Other Key Picks
IPI currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the Basic Materials space are Fortuna Mining Corp. FSM, Kronos Worldwide, Inc. KRO and Orla Mining Ltd. ORLA, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Fortuna is scheduled to release fourth-quarter results on March 5. The Zacks Consensus Estimate for FSM’s fourth-quarter earnings is pegged at 16 cents per share. FSM beat the Zacks Consensus Estimate in two of the last four quarters while missing twice, with the average earnings surprise being 53.5%.
Kronos Worldwide is expected to release fourth-quarter results on March 5. The Zacks Consensus Estimate for KRO’s fourth-quarter earnings stands at 11 cents. KRO beat the Zacks Consensus Estimate in three of the last four quarters while missing once, with the average earnings surprise being 41.7%.
Orla Mining is slated to report fourth-quarter results on March 18. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 7 cents. ORLA beat the Zacks Consensus Estimate in two of the last four quarters while missing once and meeting on the other occasion, with the average earnings surprise being 97.9%.