LSB Industries Inc., Oklahoma City, reported a second-quarter net loss of $365,000 on net sales of $105 million, down from the year-ago net income of $6.6 million and $121.5 million, respectively. Adjusted EBITDA was $29.2 million, down from $32 million. The company cited lower agricultural selling prices on higher sales volumes. Industrial and mining volumes, however, were down.
ICL, Tel Aviv, reported a second-quarter net loss attributable to shareholders of $168 million, versus the year-ago net profit of $158 million. Adjusted net income fell 52 percent to $72 million, down from $151 million the previous year.
Diluted adjusted earnings per share came in at $0.06, compared with second-quarter 2019’s $0.12. Adjusted EBITDA fell 28 percent to $246 million, down from $340 million.
Sales were 16 percent lower versus year-ago numbers, at $1.2 billion, with the company citing “cyclically-low” commodity prices as well as the impact of COVID-19 on demand for clear brine fluids and some flame retardant products.
Second-quarter potash sales volumes (including to internal customers) were 2 percent down at 1.23 million mt versus the prior year’s 1.25 million mt.
