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Rentech Nitrogen Partners LP is a nitrogen fertilizer manufacturer. The Company produce primarily ammonia and urea ammonium nitrate solution, or UAN.
Thursday, Apr 1012:11 PM
Thursday, Apr 1012:11 PM| Comment!
- Rentech (RTK +13.2%) shares surge on news that Blackstone Group's credit arm will invest $150M in the company in return for two board seats.
- RTK says the funds are intended to give its wood fibre processing business the scale necessary for a possible IPO as an MLP.
- Blackstone's GSO Capital partners co-founder Douglas Ostrover and former Smurfit-Stone Container CEO Patrick Moore will join RTK's board.
- RNF +2.9%.
Monday, Mar 173:13 PM
Monday, Mar 173:13 PM| 1 Comment
- U.S. farm co-operative CHS agrees to buy 16 Canadian farm retail outlets from Agrium (AGU +0.6%) and says it plans to further expand its business in Canada.
- The deal includes eight stores that sell seed, chemicals and fertilizer to farmers, as well as eight ammonia tank businesses, located in Alberta and Saskatchewan, the two biggest wheat- and canola-growing Canadian provinces.
- Separately, AGU and fertilizer peers Potash (POT +1.1%) and Rentech Nitrogen Partners (RNF +1.4%) are upgraded to Market Perform from Underperform at Cowen on the possibility that fertilizer prices could rise; the possibility of a late start to fertilizer application, which would pressure logistics systems, may lead to even higher near-term prices, the firm says.
Tuesday, Mar 113:59 PM
Tuesday, Mar 113:59 PM| 8 Comments
- Rentech (RTK -7.1%) and Rentech Nitrogen Partners (RNF -2.4%) tumble after posting wider than expected net losses and disappointing revenue.
- RTK reported a Q4 loss of $0.06/share, $0.04 worse than the consensus analyst estimate, while revenues fell 14.3% Y/Y to $79.3M vs. $84.7M consensus.
- RNF reported a Q4 loss of $0.45/share vs. consensus estimate of an $0.08 loss, while revenues fell 40.9% Y/Y to $54.6Mvs $69.7M consensus.
- Management believes completed capacity expansion projects have increased production rates and should increase production for the year at the Pasadena and East Dubuque facilities.
Tuesday, Mar 117:10 AM
Thursday, Jan 239:06 AM
Thursday, Jan 239:06 AM| Comment!
- Rentech Nitrogen Partners (RNF) says it has completed repairs to the foundation of one of the four syngas compressors at its East Dubuque facility.
- With the completion of the repairs and the ammonia expansion project, the facility is now producing ammonia at a steady rate of ~1,020 tons/day vs. ~830 tons/day before the expansion project.
Monday, Jan 1311:48 AM
Monday, Jan 1311:48 AM| 5 Comments
- A group led by Engaged Capital, Lone Star Value Management and a major shareholder says it has nominated four candidates for election to Rentech's (RTK +5.6%) board at the upcoming annual meeting.
- The group highlights "its frustration at the continued destruction of shareholder value... and the persistent missteps and lapses in oversight that have caused the group to lose confidence in the current Board's ability to effectively oversee RTK."
- RNF +3%.
Monday, Jan 68:58 AM
Monday, Jan 68:58 AM| Comment!
- Rentech Nitrogen Partners (RNF) says it has completed all repairs related to last November's the fire at its East Dubuque, Ill., nitrogen fertilizer facility, and ammonia production has reached a steady rate of ~790 tons/day.
- RNF continues to anticipate ammonia production at the increased rate of ~1,020 tons/day by the end of January, and believes production lost due to the fire will have minimal effect on previously forecast deliveries for 2014.
Wednesday, Dec 182013, 10:18 AM
Wednesday, Dec 182013, 10:18 AM| Comment!
- Rentech Nitrogen Partners (RNF +3.5%) confirmed late yesterday its estimate that it will take $1M-$2M to repair its ammonia synthesis loop that was recently damaged in a fire at its East Dubuque production facility.
- RNF expects the "overwhelming majority" of the impact on deliveries of lost production due to the fire to occur in 2013, with minimal impact on previously forecast deliveries for 2014.
- RNF continues to anticipate ammonia production at the increased rate of ~1,020 tons/day by the end of Jan. 2014.
Monday, Nov 182013, 3:31 PM
Monday, Nov 182013, 3:31 PM| Comment!
- The EPA's proposal to reduce ethanol mandate requirements represents a setback for fertilizer producers, Cowen analysts say; the reduction could negatively impact corn markets, driving prices below $3.50/bushel which in turn also would impact demand and pricing for fertilizers (Briefing.com)
- The firm believes the proposed changes present setbacks for corn growers and fertilizer producers of all types but especially nitrogen producers, since nitrogen is applied heavily to corn acres and soybeans get a negligible application of nitrogen.
- Cowen foresees a negative impact on POT, AGU, MOS, IPI and to a greater extent on CF, RNF and UAN.
Monday, Oct 282013, 12:46 PM|Monday, Oct 282013, 12:46 PM| Comment!
Monday, Oct 282013, 10:30 AM
Monday, Oct 282013, 10:30 AM| 1 Comment
- 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%.
Monday, Oct 282013, 9:12 AM
Friday, Oct 252013, 12:45 PM|Friday, Oct 252013, 12:45 PM| 1 Comment
Friday, Oct 252013, 8:47 AM
Friday, Oct 252013, 8:47 AM| Comment!
- Rentech Nitrogen Partners (RNF) -14.4% premarket after last night's announcement of a Q3 distribution of $0.27/unit; its Q2 distribution had been $0.85/unit.
- The news is a surprise, since RNF/RTK had guided for $2.05-$2.20 in cash available for distribution for the full year and had already paid $1.35 in H1; $0.70-$0.85 was expected in H2 with most paid in Q3, given a major turnaround and plant expansion project was planned for Q4.
Monday, Aug 262013, 3:15 PM
Monday, Aug 262013, 3:15 PM| 9 Comments
- The potash spat continues to get uglier, as Belarus investigators reportedly intend to seize property and assets of Russia's Uralkali (URALL.PK) following the collapse of the joint Russian-Belarussian potash venture.
- Investigators say Uralkali had inflicted $100M in damages to Belarussian interests.
- Belarus earlier today detained Uralkali chief Vladislav Baumgertner, drawing a fierce rebuke from Moscow.
- POT +2.9%, MOS +1.7%, AGU +3.6%, IPI +2.5%, RNF +4.6%.
Thursday, Aug 82013, 7:45 AM|Thursday, Aug 82013, 7:45 AM| Comment!
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