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Intrepid Potash Inc (IPI)
NYSE:IPI
Earnings Data
Report Date
May 04, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.48Last Year’s EPS
0.39Same Quarter Last Year
Moderate Sell
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominantly positive operational and financial story: strong 2025 results (nearly +80% adjusted EBITDA growth), record Trio performance, meaningful volume growth, improved unit economics, progress on a sizeable lithium resource, excellent safety, and near-term asset monetization potential. Notable near-term challenges include constrained potash production due to HB start-up delays and below-average evaporation, a year-over-year potash pricing decline (~$25/ton), an ongoing reduction in oilfield sales with planned disposition, and remaining uncertainty around lithium project unit economics and the deferred AMAX cavern decision. On balance, the strong financial and operational momentum and multiple growth avenues (Trio, lithium, asset sales) outweigh the operational and commodity-specific headwinds.Company Guidance
Strong Adjusted EBITDA and Income Performance
Adjusted EBITDA for 2025 was $63.0 million, representing an almost 80% improvement versus 2024; Q4 adjusted EBITDA was $18.1 million and Q4 adjusted net income was $6.5 million, both materially higher than the prior year.
Significant Volume Growth
Total fertilizer sales volumes in 2025 were ~592,000 tons, roughly 100,000 tons higher than 2024 (about a 20% increase). Combined potash and Trio sales volumes totaled just over 590,000 tons, a ~20% increase year-over-year.
Record Trio Performance
Trio sales reached a company record of 303,000 tons in 2025. Trio segment produced $33.4 million gross margin for the year and $10.5 million gross margin in Q4. Trio COGS per ton improved by over 10% year-over-year. Trio average realized price in Q4 was $379/ton — ~20% higher than Q1 2025 — and 2026 Trio production is guided to 285,000–300,000 tons (about +7% year-over-year at the midpoint).
Improved Unit Economics and Production Efficiency
Potash COGS per ton improved by approximately 5% versus 2024. Higher overall production contributed to improved unit economics across the business and drove the strong 2025 financial results.
Progress on Lithium Opportunity at Wendover
Published maiden measured & indicated resource of ~119,000 tons of lithium carbonate equivalent (LCE). Partners Aquatech and Adionics have produced a sample of battery-grade lithium carbonate from Wendover brine. At an estimated 5,000 tpa capacity, the resource would support ~25 years of production. Company targets a definitive feasibility study later in 2026.
Operational & Safety Achievements
Best-in-class safety performance with only 1 recordable incident in 2025 across over 1.1 million hours worked. Continued placement of a new continuous miner at Trio to drive higher mining rates and year-over-year production increases.
Near-Term Liquidity / Asset Monetization Progress
Exclusivity with a buyer for the South Ranch with an $8 million deposit; company expects the potential sale to likely close in H1 2026, demonstrating near-term monetization potential of non-core assets.
Supportive Market Signals
Agricultural market indicators supportive heading into spring: year-to-date domestic corn exports up almost 50% versus last year; corn and soybean futures up ~15% since August lows; $12 billion in upcoming government bridge payments expected to support fertilizer demand. Global potash shipments estimated ~75 million tons in 2025 with an expected ~1.5 million ton increase in 2026 and multi-year demand growth forecasts (~6 million tons higher by decade-end).
IPI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
IPI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 04, 2026 | $36.06 | $39.87 | +10.57% |
Nov 05, 2025 | $26.18 | $23.94 | -8.56% |
Aug 06, 2025 | $31.03 | $29.40 | -5.25% |
May 05, 2025 | $32.57 | $38.19 | +17.26% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Intrepid Potash Inc (IPI) report earnings?
Intrepid Potash Inc (IPI) is schdueled to report earning on May 04, 2026, Before Open (Confirmed).
What is Intrepid Potash Inc (IPI) earnings time?
Intrepid Potash Inc (IPI) earnings time is at May 04, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is IPI EPS forecast?
IPI EPS forecast for the fiscal quarter 2026 (Q1) is 0.48.