Commenting on the results for the period, D. Hunt Ramsbottom, CEO of Rentech Nitrogen GP, LLC, stated, “Rentech Nitrogen continues to perform exceptionally well. The facility, which operated at 100% capacity during the quarter, achieved strong margins. This resulted in a better than anticipated second quarter cash distribution of $1.17 per unit.” Mr. Ramsbottom continued, “The drought has severely impacted corn yields, which has pushed corn and nitrogen prices higher. As a result, we now expect to achieve total cash distributions in excess of $3.30 per unit this year. We also anticipate 2013 to be a strong year, given the early indications of higher nitrogen product pricing for sales we have transacted for next year.”Rentech Nitrogen continues to benefit from relatively low North American natural gas prices, which, when coupled with strong nitrogen product prices, contributed to gross profit margin of 65% for the period, up from 50% for the comparable period in the prior year.
Rentech Nitrogen Announces Results For Second Quarter 2012; Raises 2012 Guidance
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