LSB Industries reports Q2 EPS 4c, two estimates 15c

Reports Q2 revenue $151.3M, two estimates $158.52M. “We generated a 6% year-over-year increase in sales volumes during the second quarter,” stated Mark Behrman, LSB Industries (LXU)’ Chairman & Chief Executive Officer. “Our reliability and operational improvement measures enabled us to increase our ammonia production volume as compared to last year’s second quarter. As a result, we achieved healthy year-over-year growth in both production and sales volumes of higher margin upgraded products. We also saw stronger selling prices for UAN. Similar to the first quarter, however, we experienced materially higher natural gas prices relative to the prior year period when natural gas prices were at multi-year low levels. These higher gas input costs offset the higher selling prices and the operating improvements we made. We expect gas costs to be less of a year-over-year headwind in the third quarter.”