Intrepid Potash (IPI) Misses Q1 EPS by 6c; Announces Idling, Transition of West Facility
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Intrepid Potash Announces First Quarter 2016 Results
May 9, 2016 7:01 AM EDTDENVER, May 9, 2016 - Intrepid Potash Inc. (Intrepid) (NYSE: IPI) today reported its results for the first quarter ended March 31, 2016.
Intrepid reported a net loss in the first quarter of 2016 of $18.4 million, or $0.24 per diluted share, compared with net income of $6.5 million, or $0.09 per diluted share, in the first quarter of 2015. Excluding certain items that affect comparability between the two periods, including restructuring costs... More
Intrepid Potash Announces the Idling of its West Facility; Takes Next Step in Business Transformation
May 9, 2016 6:56 AM EDTDENVER, May 9, 2016 - Intrepid Potash Inc. (Intrepid) (NYSE: IPI) announced today 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 months as... More
