Intrepid Potash Reports 2015 First Quarter Earnings

Intrepid Potash Inc. (NYSE:IPI) reported its results from the first quarter 2015, which showed a net income of $6.5 million or $0.09 per diluted share.

As quoted in the press release:

• Net income of $6.5 million, or $0.09 per diluted share, compared with a net loss of $0.4 million, or $0.00 per diluted share, in the first quarter 2014.
• Adjusted net income1 of $6.5 million, or $0.09 per diluted share, compared with adjusted net loss of $1.0 million, or $0.01 per diluted share, in the first quarter 2014.
• Adjusted EBITDA1 was $32.5 million, compared with $16.8 million a year ago.
• Cash flow from operating activities was $32.7 million for the first quarter 2015 and cash paid for capital expenditures was $8.7 million.
• Cash, cash equivalents, and investments at quarter end totaled $112.6 million.

Bob Jornayvaz, president, CEO and executive chairman at Intrepid, commented:

We delivered solid results driven by our advantage of selling into the highest margin and cash flow opportunities across our diverse markets and customer base. In the quarter, we improved earnings and increased free cash flow1 by lowering our per ton cash operating costs1 and achieving higher prices compared with last year’s first quarter.

Click here to read the full Intrepid Potash Inc. (NYSE:IPI) press release.