Financial results to be released Wednesday by LSB Industries

 

LSB Industries, Inc. in Oklahoma City will release its financial results for the second quarter ended June 30, 2020 on Wednesday, July 29, 2020, after the close of the stock market.

LSB’s management will host a conference call on Thursday, July 30, 2020 at 10:00 am ET / 9:00 am CT to discuss these results. Participating in the call will be President & Chief Executive Officer, Mark Behrman, and Executive Vice President & Chief Financial Officer, Cheryl Maguire.

In May, the company released its first quarter results showing a net loss of $19.5 million and net sales of $83.4 million. It also reported an adjusted EBITDA of $15.6 million which included an adjustment for certain legal fees of $3.3 million.

But COVID-19 also affected LSB’s operations as the company admitted in the first quarter report.

“Total long-term debt, including the current portion, was $490.5 million at March 31, 2020 compared to $459.0 million at December 31, 2019. The increase in long-term debt largely reflects a use of funds from our revolver as we preemptively borrowed on the revolver to ensure access to liquidity given the uncertainty surrounding COVID-19.”

 

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