Full-Year Adjusted EBITDA and Margin Expansion
Delivered full-year adjusted EBITDA of $157,000,000 and expanded adjusted EBITDA margin by 90 basis points to 10.3% versus prior year.
Quarterly Sales and Volume Growth
Q4 sales of $360,000,000, up ~9% year-over-year; Q4 sales volume increased ~11% year-over-year driven primarily by recovery from prior-year extended turnaround.
Quarterly Earnings Improvement
Q4 adjusted EBITDA of $25,000,000, up $15,000,000 versus prior year, with a Q4 adjusted EBITDA margin of 6.9%.
Record Production in Key Units
Recorded annual production highs across ammonia and sulfuric acid unit operations, reflecting improved uptime and operational execution.
Strong Plant Nutrients Performance
Plant nutrients showed robust volume, pricing and mix: sulfur nutrition demand growing ~3–4% and granular ammonium sulfate sales volume up ~10% in the first seven months of the fertilizer year.
Capital Investment and Productivity Initiatives
Invested $116,000,000 in CapEx during 2025; announced 2026 CapEx guidance of $75,000,000–$95,000,000 and a multiyear productivity program targeting ~$30,000,000 of annual run-rate cost savings.
Balance Sheet and Liquidity Position
Exited 2025 with conservative leverage (~1.2x net debt to adjusted EBITDA), preserved dividend, and ample liquidity to support operations and optionality.
Tax and Other One-Time Benefits
Progressed tax strategies including additional 45Q carbon credit claims; received final $26,000,000 settlement proceeds in Q1 2025 related to the 2019 PES supplier shutdown claim; expect ~$18,000,000 of 45Q credits for 2026 upon DOE lifecycle approval.