This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Rentech Nitrogen Announces Results For Third Quarter 2012

SG&A expenses were $12.0 million for the nine months ended September 30, 2012, compared to $4.4 million for the prior-year period. The increase in SG&A expenses was primarily due to business development expenses, including costs of $2.0 million relating to the Agrifos acquisition. Also contributing to the increase were costs associated with having become a publicly traded limited partnership, including an increase of $2.3 million in non-cash unit-based compensation expense.

Partnership Outlook

Rentech Nitrogen expects low grain inventories caused by the drought to continue to have a favorable impact on nitrogen prices and demand for the remainder of 2012 and 2013.

2012 Outlook

The fall harvest in Rentech Nitrogen’s market area is nearly complete, several weeks earlier than typical. Recent rains as well as optimal soil temperatures have set the stage for an early start for fall application. As of October 30 th, ammonia application was in full stride in the Mid Corn Belt.

Rentech Nitrogen reiterates guidance for the twelve months ending December 31, 2012, stating that it expects cash available for distribution to be in excess of $126 million or $3.30 per unit, and EBITDA to be in excess of $130 million. The guidance includes the expected impact of business development expenses in SG&A attributed to the Agrifos acquisition; the contribution of the Pasadena plant’s operations; and a five day outage at the East Dubuque facility that occurred in early November. The Partnership has included an updated calculation of forecasted cash available for distribution below in this press release.

Rentech Nitrogen has delivered, or has forward purchase commitments for 100% of its forecasted deliveries of ammonia and UAN for 2012. The Partnership has already purchased or contracted at fixed prices 100% of the natural gas required to produce the product already delivered or forecasted to be delivered during the twelve months ending December 31, 2012.

4 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,550.69 -47.51 -0.27%
S&P 500 2,093.32 -4.72 -0.22%
NASDAQ 5,105.5460 -9.8360 -0.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs