Oklahoma City-The Pryor nitrogen plant boosted LSB Industries Inc.’s earnings in 2010, as the unit reached sustained anhydrous ammonia production in the fourth quarter ending Dec. 31, 2010. During the quarter it produced 41,000 st of ammonia, most of which was sold, and achieved $17 million in sales and $11 million in operating profit. In the year-ago quarter, while in startup, it incurred an operating loss of $5 million. For the year, Pryor sales were $25 million. In 2009, the facility did not recognize sales. Overall, LSB’s chemical segment, which includes Pryor, reported fourth-quarter operating profit of $19.6 million on sales of $97.2 million, up from a year-ago loss of $369,000 on sales of $53.7 million. Overall, LSB said the chemical unit saw sales volumes increase across all major product lines. Full-year chemical income doubled to $31.9 million on sales of $351.1 million, up from the year-ago $15.1 million on sales of $257.8 million. Company-wide, LSB reported fourth-quarter net income of $18 million ($.79 per diluted share) on sales of $172.1 million, up from the year-ago $38,000 (no EPS) on sales of $115.3 million. Full-year LSB net income was $29.6 million ($1.32 per share) on sales of $609.9 million, compared to the prior year’s $21.6 million ($.96 per share) on sales of $531.8 million. Going forward, LSB says its chemical segment is seeing improved conditions in the industrial market, and indicators point to positive supply and demand for the agricultural market. Orders from LSB’s climate control business have also been up during the past three quarters. LSB said the outlook for its business is very positive, and it is looking forward to improvement in most of its markets in 2011.
Transparency Across the Fertilizer Value-Chain