Losses for both LSB Industries Inc., Oklahoma City, and CVR Partners LP, Sugar Land, Texas, grew during the second-quarter from year-ago levels, with both companies citing down time due to turnarounds. While the outages cut in volumes, fertilizer prices were up for both companies.
LSB, citing turnarounds at both El Dorado, Ark., and Pryor, Okla., reported a net loss of $27.5 million ($1.27 per basic and diluted share) on net sales of $103.2 million, compared to the year-ago loss of $7 million ($0.53 per share) and $122.8 million, respectively.
CVR outages were at both Coffeyville, Kan., and East Dubuque, Ill., and cut some 80,000 st for UAN from the sales sheet. CVR reported a net loss of $16.4 million ($0.15 per basic and diluted unit) on net sales of $93.2 million, compared to the year-ago loss of $3.5 million ($0.03 per unit) and $97.9 million, respectively.