Intrepid Potash Inc. reported a second quarter loss of $4.94 million ($0.07 per diluted share) on sales of $73.6 million, compared to a year-ago net income of $5.6 million ($0.07 per share) and $110.9 million.
"Second quarter results were driven down by lower potash sales volume and production levels," said Intrepid’s executive chairman, president and CEO Bob Jornayvaz. "We remain focused on achieving sustainable, long-term performance and achieving operational excellence. Our solar assets, which are our most profitable, are performing well, we are updating West to build on the previous modifications we have made, and we made progress on our plans to increase Trio® production as well as product optionality at our East facility."
Second-quarter potash sales volumes were 147,000 st down from the year-ago 235,000 st, while Trio volumes were 37,000 st, down from 62,000 st.