IPI
Intrepid Potash, Inc.26.25
-0.35-1.32%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A affirms strong Q1 potash demand
Q&A confirmed robust potash demand with near-full Q1 commitments and no affordability-driven destruction, easing concerns amid balanced global markets where U.S. prices lag benchmarks. Management dodged lithium unit economics, promising future details, while framing oil sales drop as tied to South Ranch divestiture under LOI. On Trio, they noted strong seasonal interest but sulfur price hikes haven't fully flowed through yet. Capital allocation stays laser-focused on core ops and liquidity before returns talks post-sale. Q&A largely reaffirmed prepared optimism. Demand holds firm.
Key Stats
Market Cap
352.46MP/E (TTM)
-Basic EPS (TTM)
-15.20Dividend Yield
0%Recent Filings
8-K
CFO exits; interim appointed
Intrepid Potash's CFO Matthew Preston departed effective March 11, 2026, without disagreements, securing a $1.3M lump-sum transition payment and 12 months COBRA while forfeiting unvested equity. Cris Ingold, Chief Accounting Officer since 2024, steps in as interim principal financial officer, earning $12K extra monthly plus a $50K bonus. Smooth handover now hinges on Preston's transition services through 2026.
10-K
FY2025 results
Intrepid Potash swung to $11M net income in FY2025 ended December 31, 2025, from a $213M loss, as potash sales rose 12% to $140M on 20% higher volumes despite 6% lower pricing, while Trio® sales surged 37% to $144M from 19% volume growth and 18% price gains. Q4 momentum built with record Trio® fall-fill subscriptions at $380/ton (87k tons sold) and steady potash at $390/ton post-summer, bolstered by HB/Moab/Wendover output nearing capacity amid solar pond expansions; Trio® margins expanded on 9% production gains cutting per-ton costs. Cash hit $84M with $56M operating flow, $150M revolver dry, and $13M buyback room left. No 2026 guidance disclosed. Oil/gas co-development risks could impair potash reserves.
8-K
Strong 2025 profit on Trio® record
Intrepid Potash reported FY 2025 sales of $298.3 million and net income of $11.2 million, swinging to profit from 2024's $212.8 million loss, fueled by record Trio® sales of 303 thousand tons at $367 per ton. Trio® drove the turnaround. Q1 2026 guides potash sales at 95-105 thousand tons, $345-$355 per ton; Trio® 105-115 thousand tons, $380-$390 per ton. Debt-free with $83.5 million cash.
10-Q
Q3 FY2025 results
Intrepid Potash swung to $3.7M net income in Q3 ended September 30, 2025, from $1.8M loss y/y, as sales dipped 8% to $53.2M yet gross margin doubled to $10.6M (20% of sales) from better potash/Trio pricing despite oilfield weakness. Potash sales rose 15% y/y on higher volumes; Trio held steady with 29% price gains offsetting lower tons. Operating cash flow stayed robust at $46.9M YTD; cash hit $77.2M with $150M revolver undrawn. Trio impairments totaled $1.9M YTD. Debt-free balance sheet shines. Tariffs threaten input costs.
8-K
Q3 profit on price gains
Intrepid Potash posted Q3 2025 net income of $3.7 million on $53.2 million sales, flipping last year's $1.8 million loss, fueled by full first-half price hikes and Trio® margin surge to $4.4 million from $0.6 million. Potash sales climbed 15% on volume, yet production dipped seasonally. Trio® shines. Cash hit $74 million; 2025 capex now $30-34 million.
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