Published on 7 Mar 2024 on GuruFocus.com via Yahoo Finance
Intrepid Potash Inc (IPI) Faces Net Loss in Q4 and Full-Year 2023 Despite Revenue Growth
Total Sales: $56.7 million in Q4 and $279.1 million for full-year 2023.Net Loss: Reported a net loss of $37.3 million in Q4 and $35.7 million for the full year.Adjusted EBITDA: $7.1 million in Q4, totaling $41.6 million for 2023.Cash Flow: Operations generated $4.6 million in Q4, contributing to $43.2 million for the year.Capital Expenditures: Totaled $65.1 million in 2023, with a guidance range of $40 to $50 million for 2024.Liquidity: Ended 2023 with $4.1 million in cash and equivalents, and a total liquidity of approximately $185.4 million as of March 1, 2024.
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On March 6, 2024, Intrepid Potash Inc (NYSE:IPI) released its 8-K filing, detailing its financial results for the fourth quarter and the full year of 2023. Intrepid Potash Inc, a company specializing in the production and sale of potash and related products, faced a challenging year with a reported net loss despite an increase in total sales. The company's operations span across three main segments: Potash, Trio, and Oilfield solutions, with the majority of its revenue generated in the United States.