LSB Industries +30% as quarterly results continue improvement

|About: LSB Industries, Inc. (LXU)|By:, SA News Editor

LSB Industries (LXU +30.7%) soars 30% after reporting a narrower Q1 loss of $6M compared to a $14.9M loss in the year-ago quarter, on 24% higher revenues.

LSB reported higher Q1 net sales of agricultural products, driven by respective sales volume increases for ammonia, UAN and HDAN of 21%, 67% and 67%, resulting from a healthier demand environment relative than a year ago when there was excess inventory in the distribution channel and customers were reluctant to place orders due to a declining price environment.

LSB says performance at its troubled chemical plants also improved, as the Cherokee and Pryor ammonia plants operated at respective onstream rates of 99% and 96% throughout the quarter and have continued their strong performance in April, while El Dorado's Q1 ammonia onstream rate rose to 90% and to 100% for the month of March.