Intrepid Potash Inc First Quarter Sales in Line with Projections

Intrepid Potash Inc. (NYSE:IPI) announced their Q1 results for 2013.

As quoted in the press release:

In the first quarter, potash sales were in line with expectations despite the weather-related planting and application delays.  The sales team was able to capitalize on opportunities created through marketing programs, solid customer relationships, and the diverse markets served.  Intrepid achieved year-over-year and sequential improvements in both cost of goods sold and cash operating cost of goods sold driven in part by increased production at the East plant as a result of the execution of the long-term improvement plan.

Intrepid’s Executive Chairman of the Board, Bob Jornayvaz, said:

Our approach yielded robust sales despite the weather-related delays in the spring planting and potash application season.  Furthermore, our marketing strategy was key to achieving healthy average net realized sales prices that, when combined with our operating performance that resulted in lower per ton costs, enabled us to maximize our margin and cash flows

To view the whole press release, click here.