Rentech Nitrogen slammed again after cash distribution warning


Rentech Nitrogen Partners (RNF -12.3%) is under pressure after announcing a change in the timing of its cash distributions and saying cash distributions related to Q4 could be as low as zero, extending Friday's losses on news of a lower than expected Q3 distribution.

RNF blames the deteriorating outlook on a greater than expected decline in prices for ammonium sulfate prices and the illiquidity of the market which has continued longer than expected.

EBITDA for the Pasadena facility is expected to improve from Q3 but remain negative for Q4 and the full year; Q4 forecast for the East Dubuque facility is reduced by higher costs and lower sales due to a compressor-related repair.

RTK -9.5%.

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Comments (1)
  • arthur_bishop1972
    , contributor
    Comments (4387) | Send Message
     
    Wow....so glad I got out right under $27. The last time something like this happened to me was about 6 years ago when I sold SWHC shares right before the close only to have the the SEC announce that they lied about certain statements in the 10k or something. A friend called me "the last man off the Titanic". I got out around $21 and the stock was under $10 in a matter of days.
    28 Oct 2013, 01:37 PM Reply Like
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