Nitrogen producer CVR Partners LP, Sugar Land, Texas, reported a second-quarter net loss of $42 million, inclusive of a $41 million pretax charge related to goodwill impairment, on net sales of $105 million versus the year-ago net income of $19 million and net sales of $138 million.
Intrepid Potash Inc., Denver, posted a second-quarter net loss of $8.9 million on sales of $46.5 million compared to the year-ago net income of $5.6 million and sales of $62.5 million. The company said the results were clearly affected by COVID-19 which impacted its oilfield and water sales activity during the quarter. It said this overshadowed its strong fertilizer performance during the spring application season and its good 2020 evaporation rates at its potash facilities.
The Mosaic Co., Tampa, on Aug. 3 reported second-quarter net income of $47.4 million, up from the year-ago loss of $233.1 million, which included a $284 million noncash after-tax charge for the permanent closure of the company’s Plant City phosphate facility. The company reported net sales of $2 billion, off from the year-ago $2.18 billion. Finished goods sales volume increased 16 percent over the prior year period.
Brandt, Springfield, Ill., reported Aug. 3 that it has acquired a retail agronomy company, Morton Fertilizer, with full-service locations in Wyanet, Ill. and Grand Mound, Iowa. Morton Fertilizer, which encompasses D&B Morton Fertilizer Service Inc. of Bureau County, Ill., and Du-Mor Crop Care Inc. of Clinton County, Iowa, will immediately become part of the Brandt organization.
