Deerfield, Ill.-Terra Nitrogen Co. L.P. reported net earnings of $35.2 million on revenues of $136 million for the third quarter ending Sept. 30, 2010, compared to the year-ago $17.3 million on revenues of $101.5 million. Net income applicable to common units was $25.9 million ($1.40 per unit), versus the year-ago $11.9 million ($.64 per unit). Results included a $7.2 million mark-to-market loss on natural gas derivatives. Ammonia and UAN selling prices were up 47 and 33 percent over the year-ago quarter, respectively, while ammonia volumes were up 50 percent and UAN declined 6 percent. Nine-month net earnings were $135.8 million on revenues of $421.7 million, up from the year-ago $121.4 million on revenues of $409.6 million. Income allocable to common unit was $99.9 million ($5.40 per unit) versus the year-ago $77.4 million ($4.18 per unit).
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