LSB losses grow in 4Q, year
Despite higher sales volumes for UAN, AN and ammonia, lower prices kept LSB Industries Inc. in the loss column for the fourth-quarter and year-ending Dec. 31, 2016.
The company reported a fourth-quarter loss from continuing operations of $25.2 million on net sales of $85.4 million, up from the year-ago loss of $11.1 million and $90 million, respectively.
The full-year loss from continuing operations was $88.1 million on sales of $374.6 million, down from the year-ago loss of $46.1 million and $437.7 million, respectively.
The company received cash proceeds of $358 million during the year from the sale of its Climate Control business. This gain pumped up 2016 net income attributable to shareholders to $64.8 million, from 2015’s loss of $38 million.