Intrepid Potash Announces the Idling of its West Facility; Takes Next Step in Business Transformation
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Intrepid Potash (IPI) Misses Q1 EPS by 6c; Announces Idling, Transition of West Facility
May 9, 2016 8:08 AM EDTIntrepid Potash (NYSE: IPI) reported Q1 EPS of ($0.22), $0.06 worse than the analyst estimate of ($0.16). Revenue for the quarter came in at $73.28 million versus the consensus estimate of $59.8 million.
Intrepid also its decision to idle operations at its West facility and transition the facility to a care-and-maintenance mode.
The West facility, which generated 42% of Intrepid's potash production in 2015, is a conventional mining facility located in Carlsbad, New Mexico. The facility's operations have become increasingly less profitable in recent... More
