LSB Industries: Still A Short
Justin Hess • 20 Comments
Justin Hess • 20 Comments
What's Going On At LSB Industries?
Alpha Gen Capital
Alpha Gen Capital
Fri, Mar. 18, 12:48 PM
Wed, Mar. 2, 12:45 PM
Tue, Mar. 1, 12:48 PM
Mon, Feb. 29, 5:14 PM
Sun, Feb. 28, 5:35 PM
Fri, Feb. 5, 12:40 PM
Tue, Jan. 19, 12:41 PM
Dec. 30, 2015, 7:21 AM
- LSB Industries (NYSE:LXU) announces that its Cherokee, Alabama ammonia plant resumed production on December 24. The company shut it down on December 17 in order to perform unplanned maintenance arising from a small leak in a vessel containing hydrogen. As previously disclosed, the stoppage will reduce operating income by $2.5M - 3.0M, half in Q4 and the other half in Q1.
- The company's Pryor, Oklahoma chemical site remains under repair. It was taken out of service on November 14 in order to repair a CO2 pre-compressor. The work was completed and the plant restarted on December 21 but was shut down again on December 27 due to a leaking joint in the nitric acid plant which halted the production of nitric acid. The repairs should be completed in the next 10 days. In the interim, a portion of its ammonia production has been transferred to the El Dorado facility for the production of low and high density ammonium nitrate.
- The lost sales volume and cost of repairs will negatively impact 2015 operating income by $3.5M - 4.0M, $1.0M which should be recovered in Q1 from the sale of surplus ammonia produced in Q4 that could not be used to produce urea.
- Previously: LSB Industries cuts Q4 guidance as two plants are out of service (Dec. 17)
Dec. 17, 2015, 12:33 PM
- LSB Industries (LXU -7.3%) says its Cherokee, Ala., ammonia plant and Pryor, Okla., urea plant are out of service and under maintenance, causing it to lower guidance for Q4 UAN volume guidance to 80K-90K tons from 100K-110K tons earlier.
- LSB estimates the unplanned Cherokee outage will reduce operating income by $2.5M-$3M; the facility is expected to resume production by roughly Dec. 24.
- LXU also anticipates that lost sales volumes and the cost of repairs at Pryor will cut operating income by $3M-$3.5M; urea and UAN production is expected to resume by roughly Dec. 21.
Nov. 9, 2015, 12:45 PM
Nov. 6, 2015, 12:44 PM
Nov. 6, 2015, 12:23 PM
- LSB Industries (LXU -54%) is down by more than half following a Q3 earnings miss and an update on its El Dorado ammonia plant in Arkansas, which included a dramatically increased cost projection.
- LSB says it now sees the total cost to complete the El Dorado expansion at $831M-$855M vs. its previous expectation of $660M-$680M, and it pushes back the timeline of completion for the project to early February vs. its earlier expectation for completion by the end of this year.
- LSB also says it received a strategic Investment of $260M to complete the El Dorado expansion.
Nov. 6, 2015, 9:38 AM
- LSB Industries (LXU -19.2%) reports new orders for Climate control products declined 12% Y/Y to $65.1M.
- Chemical revenue decreased 14.9% to $80.62M.
- Climate control revenue grew 2.1% to $75.05M.
- New orders from the commercial end-markets declined 10% Y/Y.
- Residential product new orders fell 23% Y/Y.
- Gross margin rate dropped 590 bps to 8.4%.
- Q3 results
Nov. 6, 2015, 6:32 AM
- LSB Industries (NYSE:LXU): Q3 EPS of -$0.36 misses by $0.02.
- Revenue of $157.69M (-7.8% Y/Y) in-line.
Nov. 5, 2015, 5:30 PM
Sep. 3, 2015, 9:17 AM
- LSB Industries (NYSE:LXU) says Barry Golsen has stepped down as President and CEO effective immediately, and lead independent director Daniel Greenwell is appointed interim CEO.
- Also, the company says unplanned downtime at its Pryor chemical facility during August and September is expected to reduce Q3 sales volumes of UAN by 35K-40K tons and ammonia by 5K-6K tons, while lowering operating income by $8M-$8.5M; each additional day of downtime at Pryor beyond Sept. 18 would lower operating income by $150K-$200K/day.
LSB Industries, Inc. is a manufacturing, marketing, and engineering company. It manufactures and sells heating, ventilation and air conditioning products through its subsidiaries. The company operates its business through two segments: Chemical and Climate Control. The Chemical segment... More
Sector: Consumer Goods
Industry: Electronic Equipment
Country: United States
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