Intrepid Potash, Inc. (NYSE:IPI) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.86%.
Intrepid Potash, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 32% to $0.17 in the quarter versus EPS of $0.25 in the year-earlier quarter.
Revenue: Decreased 6.16% to $92.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Intrepid Potash, Inc. reported adjusted EPS income of $0.17 per share. By that measure, the company missed the mean analyst estimate of $0.21. It missed the average revenue estimate of $103.26 million.
Quoting Management: “We are in the home stretch of transforming Intrepid`s facilities into much more modernized plants. We are poised to deliver lower cost production as we bring on line our new solution mine, new cavern system, updated West facility, and state-of-the-art compaction capability,” said Bob Jornayvaz, Intrepid`s Executive Chairman of the Board. “I am excited to be nearing the conclusion of this multi-faceted, multi-year capital investment program, and to begin seeing the benefits from our investments. We are confident that we will enter 2014 with a stronger company as we finish this transition from old to new during the next few quarters.”
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