The Andersons reported adjusted earnings per share for the fourth quarter that beat the average analyst estimate. Adjusted EPS was $0.59 versus the Bloomberg Consensus analyst estimate of $0.49; year-ago was $0.55. Fourth-quarter fertilizer volumes were up in all categories.
Compass Minerals reported lower earnings for both the fourth-quarter and year-ending Dec. 31, 2020, citing improved salt margins, whereas Plant Nutrition North America saw higher short-term costs. The North American fertilizer unit reported a fourth-quarter sales volume uptick of 23 percent, however, prices were off 6 percent. North American fertilizer operating earnings declined for both the quarter and year.
PCI Nitrogen announced Feb. 16 that on Feb. 13 in order to supply additional power to the Houston electric grid through its cogeneration facility, it elected to shut down ammonium sulfate production. On Feb. 15 due to the historical cold temperatures, the company was forced to shut all production at the facility which includes ammonium sulfate, sulfuric acid, ammonium thiosulfate and power production.
As of Feb. 16, the company said it is unable to say when the facility will return to normal operations and will depend on the weather moderating and raw material supply normalizing.
The Fertilizer Institute today announced the passing of former TFI President Ford West. “For more than thirty years, Ford West was the face of The Fertilizer Institute (TFI),” said the organization. “His tireless advocacy for TFI, its members and the Nutrients for Life Foundation (NFLF) was unmatched, and serves as an inspiration today to all who served with him.”
TFI said an announcement regarding TFI’s plan to memorialize Ford’s exceptional life and service to the industry will be forthcoming.
Incitec Pivot Ltd. reported Feb. 15 that its major turnaround at its Waggaman ammonia plant in Louisiana will extend into March, with the target date for the plant to come back up now March 15. The earnings impact of the turnaround extension and an additional plant outage that occurred prior to the turnaround are expected to be an incremental US$15 million from previous expectations while the capital cost of the turnaround has increased by US$10 million.
LSB Industries Inc., Oklahoma City, announced Feb. 16 that on Feb. 12 it temporarily took its Pryor, Okla., facility out of service as a result of a recent surge in natural gas prices that has taken place in the region due to extremely cold temperatures. Also related to the cold weather, the operator of the pipeline that supplies natural gas to the Pryor facility is experiencing significant weather related gas supply impacts and, as a result, has curtailed gas distribution to commercial customers. LSB said it will restart production at Pryor as soon as natural gas prices and availability normalize.
