Will 3Q earnings for LSB Industries offset drop in 2Q?

 

After a drop in net sales in the second quarter of the year, LSB Industries’ third quarter results will be released publicly in about two weeks.

The company set the release date for Tuesday, Oct. 29 after the close of the stock market. Company leaders will hold a conference call the following day, Wednesday, Oct. 30 at 9 a.m. central time.

Participating in the call will be Chairman, President & Chief Executive Officer, Mark Behrman, Executive Vice President & Chief Financial Officer, Cheryl Maguire and Executive Vice President & Chief Commercial Officer, Damien Renwick. announced results for the second quarter ended June 30, 2024.

At the end of the second quarter, LSB reported net sales of $140 million compared to $166 million a year earlier.  Its second quarter net income was $10 million, down from $25 millioin in the second quarter of 2023. It still managed a repurchase of about 0.8 million shares of common stock in the second quarter this year.

“Our second quarter was highlighted by our landmark agreement to supply Freeport Minerals with low carbon ANS for use in their copper mining operations,” stated Mark Behrman, LSB Industries’ President and CEO at the end of the quarter. “This agreement validates our belief that industrial customers will identify low carbon nitrogen products as a critical pathway toward achieving their decarbonization initiatives.”