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LSB Industries, Inc. (LXU)

  • Today, 9:16 AM
    • LSB Industries (NYSE:LXU) +4.1% premarket after reaching an agreement with activist investor Starboard Value regarding corporate governance and board composition.
    • LXU says that, once its El Dorado facility expansion projects have been completed and brought online in 2016, it plans to separate its chemicals unit from its climate control unit and to explore an MLP structure for the chemicals business.
    • LXU agrees to add five Starboard nominees as new directors, expanding the board to 13 from 10.
    • Starboard, which has been critical of LXU's performance for nearly a year, owns ~7.6% of the company's outstanding shares.
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  • Jul. 28, 2014, 10:26 AM
    • LSB Industries (LXU +7.8%) is sharply higher following a weekend Barron's profile that sees activist investors' agitation for changes such as a spinoff or sale of the climate control unit and the creation of an MLP for the chemicals business sparking "huge upside" for the shares in the next year.
    • The actions could energize the fertilizer maker, which trades for a deep discount to the value of LXU's parts, says Avondale Partners' Daniel Mannes, who thinks shares could be worth $62-$73; he says the timing for such action is uncertain, but sees 15% upside in the shares in the next year even without major changes.
    • Business, meanwhile, is looking up: A ramp-up in production helped boost division sales by nearly 50% Y/Y in the March quarter, and the renovated Pryor facility reached targeted production in April.
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  • Jun. 11, 2014, 3:53 PM
    • LSB Industries (LXU +3.1%) surges to 52-week highs following a disclosure that it established a strategic committee to assist in reviewing and evaluating potential separations of business units and possibility of placing some or all of its chemical business into an MLP structure.
    • The news is not a total surprise, since activist investor Starboard Value reached an agreement with the company in April to get two seats on the board.
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  • Apr. 4, 2014, 12:51 PM
    • LSB Industries (LXU +3.5%) and Starboard Value reach an agreement that will add two Starboard nominees to the company's board and form a committee to provide recommendations related to strategic matters; the board size remains at 10.
    • Starboard agrees not to solicit proxies or participate in any withhold campaign in connection with the 2014 annual meeting and to vote in support of all LSB's director nominees.
    • Starboard owns ~4.9% of LSB's outstanding shares.
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  • Jan. 8, 2014, 10:29 AM
    • LSB Industries (LXU -1.5%) says it is taking down the anhydrous ammonia plant at its Pryor, Okla., chemical facility due to excessive vibrations in the second stage of the compressor detected by recently installed monitors.
    • LSB expects the ammonia plant at the Pryor facility to be returned to service before the end of January; ammonia production had been resumed Dec.30 after having been out of service for most of Q4 2013.
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  • Jul. 10, 2013, 7:52 AM
    LSB Industries (LXU) -6.1% premarket after issuing downside guidance for Q2 EPS, seeing $0.20-$0.30 vs. $0.83 analyst consensus. LXU says operating income was impacted by the late start of the ag fertilizer season due to unusual weather, lower sales prices for nitrogen fertilizer and higher natural gas costs Y/Y. Also expects to recognize significant business interruption and property insurance recoveries in H2.
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  • Nov. 21, 2012, 11:25 AM
    LSB Industries (LXU -7.9%) stops production at the principal ammonia plant at its Pryor, Okla., chemical facility to perform unplanned maintenance on a compressor. LXU estimates an outage of 6-8 weeks with the downtime adversely affect operating income by ~$2M/week.
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  • Oct. 12, 2012, 2:08 PM
    LSB Industries (LXU -8.9%) shares are pummeled after warning yesterday about Q3 production and profitability issues. Problems with the ammonia conversion process at two facilities and unplanned downtime at its main ammonia plant resulted in total Q3 ammonia production of ~28K tons, 50% lower than the targeted rate.
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  • May. 15, 2012, 2:01 PM
    LSB Industries (LXU -22.8%) says its chemical facility in El Dorado, Ark. suffered significant damage to its concentrated nitric acid plant and surrounding equipment after a reactor exploded. The facility will be out of operation for an unknown period. The company believes there was no environmental release.
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  • Apr. 26, 2012, 10:43 AM
    LSB Industries (LXU -7.7%) rides higher after updating investors on the status of its Pryor, Oklahoma facility. While an ammonia plant is back up and running after a production shutdown, a urea ammonium nitrate plant is waiting for a replacement part before coming back online. The company says it lost close to $4M in operating income in March due to the repairs.
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  • Feb. 28, 2012, 5:43 PM
    LSB Industries (LXU): Q4 EPS of $1.19 beats by $0.33. Revenue of $216M (+25% Y/Y) beats by $21M. Shares +10.4% AH. (PR)
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  • Jan. 18, 2012, 12:50 PM
    It's only January 18, but is it possible the 2012 housing rebound play is already getting a bit crowded? The XHB +10.9%, TOL +14.3%, LEN +16.3%, HD +6.3% YTD. Even bigger winners are building materials firms, USG +42.5%, PATK +50% YTD. Arguing for an even bigger run is most of these stocks are higher off of very low bases.
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  • Nov. 7, 2011, 6:42 PM
    LSB Industries (LXU) Q3 results miss both EPS and revenue estimates. Profits jumped 66% Y/Y, but operating income in the manufacturing and engineering company's chemical business suffered from extended seasonal downtime. Shares -11% AH.
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Company Description
LSB Industries Inc is a chemical manufacturing, marketing and engineering company.The Company's main activities, through its subsidiaries, are the manufacture and sale of a heating, ventilation and air conditioning products and chemical products.