LSB Industries says shutdown facilities to reduce Q4 operating income by $5M-$7M

LSB Industries announced that its Cherokee, Alabama and El Dorado, Arkansas facilities were shut down as a result of the extremely cold temperatures that impacted much of the United States in late December. The El Dorado facility has since returned to service. Repairs are currently underway at Cherokee and the facility is expected to resume production by mid-January 2023. LSB management estimates that the unplanned outages at the two facilities will collectively reduce fourth quarter 2022 operating income by approximately $5M to $7M, largely attributable to lost sales and reduced absorption of fixed costs.