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Intrepid Potash (IPI) Q4 Earnings Miss Estimates, Revenues Up Y/Y
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Intrepid Potash, Inc. (IPI - Free Report) recorded earnings of $16.66 per share for fourth-quarter 2021, against a loss of 5 cents in the year-ago quarter.
Barring one-time items, adjusted earnings per share for the reported quarter were 60 cents per share, missing the Zacks Consensus Estimate of $1.16.
The company registered revenues of $71.8 million for the quarter, up around 48% year over year.
Intrepid Potash gained from higher net realized sales price per ton for its potash and Trio products. A strong commodity environment and higher fertilizer prices supported its results in the fourth quarter.
Intrepid Potash, Inc Price, Consensus and EPS Surprise
Revenues from the Potash segment shot up roughly 41% year over year to $38.8 million in the reported quarter. The upside was driven by increased pricing that more than offset lower sales volumes.
The Trio unit raked in revenues of $24.6 million, up around 58% year over year. The upside was driven by significantly higher net realized sales price per ton.
Revenues from the Oilfield Solutions unit came in at $8.5 million, up around 57% year over year. The segment benefited from the improvements in oilfield activity, which drove higher water, brine and other oilfield services sales.
FY21 Results
Earnings or full-year 2021 were $18.66 per share compared with a loss of $2.09 per share a year ago. Revenues were $270.3 million for the full year, up around 37% year over year.
Financials
The company’s cash and cash equivalents were $36.5 million at the end of 2021, up around 87% year over year. Long-term debt was nil at the end of the year.
Cash flow from operations was $79.1 million for full-year 2021. The company’s board approved a $35 million share repurchase program in February 2022.
Outlook
Moving ahead, the company said that it is seeing pricing and demand strength into the first quarter of 2022. It expects another quarter of higher realized prices. The outlook for fertilizer and agriculture markets remains strong and the company is poised to drive significant increases in bottom-line results in 2022, Intrepid Potash noted. The company is also witnessing good demand for water across its South ranch and anticipates to benefit from activity closer to its infrastructure during this year.
Price Performance
Shares of Intrepid Potash have rallied 115.7% over a year compared with the industry’s rise of 57.8%.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Intrepid Potash currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks worth considering in the basic materials space include The Mosaic Company (MOS - Free Report) , AdvanSix Inc. (ASIX - Free Report) and Commercial Metals Company (CMC - Free Report) .
Mosaic, sporting a Zacks Rank #1 (Strong Buy), has a projected earnings growth rate of 104.8% for the current year. The Zacks Consensus Estimate for MOS's current-year earnings has been revised 21.3% upward in the past 60 days. You can see the complete list of today’s Zacks #1 Rank stocks here.
Mosaic beat the Zacks Consensus Estimate for earnings in three of the last four quarters, while missed once. It has a trailing four-quarter earnings surprise of roughly 3.7%, on average. MOS has rallied around 99% in a year.
AdvanSix, carrying a Zacks Rank #2 (Buy), has an expected earnings growth rate of 17.3% for the current year. ASIX's consensus estimate for current-year earnings has been revised 12.4% upward in the past 60 days.
AdvanSix beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 46.9%. ASIX has rallied around 48% in a year.
Commercial Metals, carrying a Zacks Rank #2, has a projected earnings growth rate of 62% for the current fiscal year. The Zacks Consensus Estimate for CMC's current fiscal year earnings has been revised 22.7% upward over the past 60 days.
Commercial Metals beat the Zacks Consensus Estimate for earnings in three of the last four quarters while missed once. It has a trailing four-quarter earnings surprise of roughly 13.1%, on average. CMC has gained around 31% in a year.
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Intrepid Potash (IPI) Q4 Earnings Miss Estimates, Revenues Up Y/Y
Intrepid Potash, Inc. (IPI - Free Report) recorded earnings of $16.66 per share for fourth-quarter 2021, against a loss of 5 cents in the year-ago quarter.
Barring one-time items, adjusted earnings per share for the reported quarter were 60 cents per share, missing the Zacks Consensus Estimate of $1.16.
The company registered revenues of $71.8 million for the quarter, up around 48% year over year.
Intrepid Potash gained from higher net realized sales price per ton for its potash and Trio products. A strong commodity environment and higher fertilizer prices supported its results in the fourth quarter.
Intrepid Potash, Inc Price, Consensus and EPS Surprise
Intrepid Potash, Inc price-consensus-eps-surprise-chart | Intrepid Potash, Inc Quote
Segment Highlights
Revenues from the Potash segment shot up roughly 41% year over year to $38.8 million in the reported quarter. The upside was driven by increased pricing that more than offset lower sales volumes.
The Trio unit raked in revenues of $24.6 million, up around 58% year over year. The upside was driven by significantly higher net realized sales price per ton.
Revenues from the Oilfield Solutions unit came in at $8.5 million, up around 57% year over year. The segment benefited from the improvements in oilfield activity, which drove higher water, brine and other oilfield services sales.
FY21 Results
Earnings or full-year 2021 were $18.66 per share compared with a loss of $2.09 per share a year ago. Revenues were $270.3 million for the full year, up around 37% year over year.
Financials
The company’s cash and cash equivalents were $36.5 million at the end of 2021, up around 87% year over year. Long-term debt was nil at the end of the year.
Cash flow from operations was $79.1 million for full-year 2021. The company’s board approved a $35 million share repurchase program in February 2022.
Outlook
Moving ahead, the company said that it is seeing pricing and demand strength into the first quarter of 2022. It expects another quarter of higher realized prices. The outlook for fertilizer and agriculture markets remains strong and the company is poised to drive significant increases in bottom-line results in 2022, Intrepid Potash noted. The company is also witnessing good demand for water across its South ranch and anticipates to benefit from activity closer to its infrastructure during this year.
Price Performance
Shares of Intrepid Potash have rallied 115.7% over a year compared with the industry’s rise of 57.8%.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Intrepid Potash currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks worth considering in the basic materials space include The Mosaic Company (MOS - Free Report) , AdvanSix Inc. (ASIX - Free Report) and Commercial Metals Company (CMC - Free Report) .
Mosaic, sporting a Zacks Rank #1 (Strong Buy), has a projected earnings growth rate of 104.8% for the current year. The Zacks Consensus Estimate for MOS's current-year earnings has been revised 21.3% upward in the past 60 days. You can see the complete list of today’s Zacks #1 Rank stocks here.
Mosaic beat the Zacks Consensus Estimate for earnings in three of the last four quarters, while missed once. It has a trailing four-quarter earnings surprise of roughly 3.7%, on average. MOS has rallied around 99% in a year.
AdvanSix, carrying a Zacks Rank #2 (Buy), has an expected earnings growth rate of 17.3% for the current year. ASIX's consensus estimate for current-year earnings has been revised 12.4% upward in the past 60 days.
AdvanSix beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 46.9%. ASIX has rallied around 48% in a year.
Commercial Metals, carrying a Zacks Rank #2, has a projected earnings growth rate of 62% for the current fiscal year. The Zacks Consensus Estimate for CMC's current fiscal year earnings has been revised 22.7% upward over the past 60 days.
Commercial Metals beat the Zacks Consensus Estimate for earnings in three of the last four quarters while missed once. It has a trailing four-quarter earnings surprise of roughly 13.1%, on average. CMC has gained around 31% in a year.