Intrepid Potash Inc. reported a third-quarter loss of $1.9 million on sales of $32.1 million, an improvement over the year-ago loss of $18.2 million and $43.6 million, respectively.
“We continue to successfully execute on our strategy to diversify our income streams, improve our potash margins, and grow our Trio® sales volumes.” said Bob Jornayvaz, Intrepid’s executive chairman, president and CEO. “By focusing on what we can control through a challenging part of the cycle, we have made improvements in potash profitability and increased Trio® sales both domestically and abroad. We also doubled our water sales for the second consecutive quarter. As a result of our disciplined approach, we have greatly reduced our outstanding debt levels and improved our performance such that going forward we will pay the lowest interest rates provided under our senior notes.”