This Day On The Street
Continue to site
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 Fourth Quarter And Full Year 2012; Issues 2013 Guidance

2013 Outlook

Rentech Nitrogen expects 2013 to benefit from strong nitrogen market dynamics. The Partnership expects 2013 planted corn acres to exceed 96 million. With drought conditions moderating, Rentech Nitrogen anticipates yields in the range of 155 – 160 bushels per acre and a multi-year recovery of corn inventories from last year’s drought. For these reasons, the Partnership expects corn prices to remain strong, incentivizing farmers to plant corn and apply nitrogen to maximize yields and profits. With farm income remaining very strong and fertilizer costs as a percentage of corn revenues at historical lows, farmers are well positioned to purchase nitrogen.

Rentech Nitrogen expects 2013 cash available for distribution to be approximately $101 million, or $2.60 per unit. The 2013 guidance includes the impact of two scheduled outages at its facilities during the year, as described below. Excluding the effects of these outages and approximately $6.0 million in lost profits in 2013 due to the unscheduled December 2012 outage at the East Dubuque Facility, 2013 consolidated cash available for distribution would have been approximately $0.65 per unit higher. The calculation of forecasted cash available for distribution has been included below in this press release.

Rentech Nitrogen expects 2013 EBITDA to be approximately $129 million. Excluding Partnership level expenses, 2013 EBITDA for the East Dubuque Facility and Pasadena Facility are expected to be $114 million and $24 million, respectively. The Partnership’s 2013 EBITDA guidance for the Pasadena Facility is consistent with the guidance previously provided at the time of the acquisition in late 2012. The calculation of forecasted EBITDA, a non-GAAP financial measure, and a reconciliation of EBITDA to net income have been included below in this press release.

Assuming product and input prices equal to those expected in 2013, Rentech Nitrogen noted that the annual incremental contribution from increased production from its expansion projects scheduled to come online by the end of 2013 would be expected to add approximately $0.90 per unit of cash distributions and approximately $41 million of EBITDA.

5 of 10

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.75 -1.10%
FB $117.53 0.69%
GOOG $693.00 0.29%
TSLA $240.75 -2.80%
YHOO $36.61 0.06%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs