LSB Industries reports Q2 adjusted EPS 25c, consensus 23c

Reports Q2 revenue $165.8M, consensus $159.13M. “Our sales volumes were up relative to the second quarter of last year,” stated Mark Behrman, LSB’s President and CEO. “The teams at our manufacturing facilities operated our plants well and our commercial organization effectively moved product in the face of a challenging demand and pricing environment. For the second consecutive quarter we experienced a significant year-over-year decline in selling prices reflecting the impact of lower natural gas prices in Europe and weaker industrial activity in Asia. Additionally, UAN demand was below expectations as farmers opted to apply more urea due to what had been comparatively attractive pricing early this year versus UAN. More recently, however, prices for nitrogen products have begun to increase, a trend we expect to continue at a measured pace through the second half of this year, with further improvement likely building into the 2024 Spring planting season.”