Fri, May 8, 6:49 AM
- Chemical revenue increased 11.6% to $126.8M.
- Climate control revenue rose 4.9% to $65.2M.
- New orders from the commercial end-markets +7% Y/Y.
- Gross margin rate declined 544 bps to 21.85%.
Fri, May 8, 6:32 AM
Thu, May 7, 5:30 PM
Mon, Apr. 27, 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.
Tue, Mar. 10, 6:41 PM
- Activist investor Starboard Value says LSB Industries (NYSE:LXU) is "deeply undervalued" and urges LSB's board to consider five candidates it plans to nominate as directors at the chemical company's 2015 annual meeting.
- Starboard says LSB's "poor stock price performance is a direct result of poor operating performance," and says management has "repeatedly failed to execute in both of the company's operating businesses."
- The five nominees include former execs at CF Industries, Agrium and Arch Chemicals, as well as two Starboard officials.
- LSB says it has engaged in settlement discussions with Starboard which include additional board representation.
Mon, Mar. 2, 6:34 AM
Sun, Mar. 1, 5:30 PM
Dec. 24, 2014, 9:02 AM
- LSB Industries (NYSE:LXU) says Jack Golsen, chairman of the board and CEO as well as the founder of the company, will step down as CEO and assume the role of executive chairman, effective Jan. 1.
- Barry Golsen, currently vice chairman, president and COO, will become president and CEO.
- Golsen founded LSB Industries in 1969 and has served as chairman of the board and CEO since the company's inception.
Nov. 7, 2014, 6:35 AM
Nov. 6, 2014, 5:30 PM
Aug. 8, 2014, 6:36 AM
Aug. 7, 2014, 5:30 PM
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.
Jul. 1, 2014, 9:02 AM
- Chicago Bridge & Iron (CBI) has announced three new contracts totaling over $200M:
- The first contract worth over $90M, will provide technology licenses, front end engineering and design services for NefteGazIndustriya's Afipsky Oil Refinery in Russia.
- CB&I's second contract is valued at $110M, and has been awarded by an unnamed leader in the global chemicals industry for industrial services at its multiple chemical facilities throughout the U.S.
- LSB Industries' (LXU) subsidiary, El Dorado Ammonia, awarded CB&I with its last contract, to engineer and construct a storage tank for LSB's ammonia plant expansion project in Arkansas.
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.
May 7, 2014, 5:28 PM
LXU vs. ETF Alternatives
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.
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