Oklahoma City-based LSB Industries, Inc. announced that it will release its financial results for the third quarter ended September 30, 2020 on Thursday, November 5, 2020, after the close of the stock market.
The chemical company reported a net loss of $0.4 million in the second quarter and net sales of $105 million with adjusted EBITDA of $29.2 million. There was 6% increase in agricultural sales volumes
“Despite the headwinds to our industry and our business created by COVID-19, given our operational improvements, we continue to project year-over-year improvement in our adjusted EBITDA and cash flow in 2020,” said Mark Behrman, LSB’s President and Chief Executive Officer.
Just a week ago, the company announced the signing of a new long-term nitric acid supply contract with an unnamed customer.
Under the agreement, LSB will supply between 70,000 to 100,000 tons of nitric acid per year. Sales are expected to begin in the first quarter of 2021. Behrman said in making the announcement that the contract would be a boost for its “underutilized nitric acid production capacity at our El Dorado (Ark.) facility.”
LSB’s management will host a conference call on Friday, November 6, 2020 at 10:00 am ET / 9:00 am CT to discuss the third quarter results. Participating in the call will be President & Chief Executive Officer, Mark Behrman, and Executive Vice President & Chief Financial Officer, Cheryl Maguire.
Interested parties may participate in the call by dialing (201) 493-6739. Please call in 10 minutes before the conference is scheduled to begin and ask for the LSB Industries conference call. To coincide with the conference call, LSB will post a slide presentation at www.lsbindustries.com on the webcast section of the Investor Info tab. Following the prepared remarks, there will be a question and answer session.
Source: BusinessWire