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 Reports 2012 Activities And Financial Results; Provides 2013 Guidance

Rentech, Inc. (NYSE MKT: RTK) today announced its results for the three and twelve months ended December 31, 2012 and provided financial guidance for 2013. Rentech owns the general partner and approximately 60% of the common units representing limited partner interests in Rentech Nitrogen Partners, L.P. (NYSE: RNF). Rentech Nitrogen manufactures and sells nitrogen fertilizer products. Rentech also owns the intellectual property including patents, pilot and demonstration data, and engineering designs for a number of clean energy technologies designed to produce certified synthetic fuels and renewable power when integrated with third-party technologies.

Rentech’s financial results reflect the consolidated results of Rentech, Inc. and its subsidiaries, including Rentech Nitrogen. The results of Rentech Nitrogen are reported as the nitrogen products manufacturing subsidiary of Rentech, which includes two operating segments: the East Dubuque Facility and the Pasadena Facility.

Commenting on results for the period, D. Hunt Ramsbottom, President and CEO of Rentech, said, “We reported solid results for the year as we re-position the Company, reflecting reduced R&D expenses and strong nitrogen prices and demand. We are confident about our future, with Rentech Nitrogen positioned to expand as it benefits from strong nitrogen fundamentals, and Rentech benefiting from reduced corporate spending and potentially entering a new business line with immediate global growth opportunities and attractive returns.”

Mr. Ramsbottom continued, “Beginning with the successful IPO of Rentech Nitrogen in late 2011, we have taken deliberate, thoughtful actions which have resulted in significant shareholder returns. We continue to focus on further value creation, recently announcing the elimination of R&D activities and pursuing a new business line with immediate or near-term profitability. We are excited about the potential for growth and returns from a new business and are optimistic about announcing our entry into the new business line in the coming months.”

Special Cash Distribution and Share Repurchases

As a result of Rentech's successful execution of its strategy and the Board's ongoing evaluation of the best steps to utilize its capital and create shareholder value, Rentech returned $58.6 million of cash to shareholders in 2012. Rentech paid a special cash distribution to shareholders of $0.19 per common share, which represented approximately $42.2 million in payments to holders, on December 27, 2012. Approximately 75% of the distribution was a return of capital. In addition to this cash distribution, Rentech repurchased approximately 9.1 million shares in 2012, at an average price of $1.81 per share.

1 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 $93.64 -0.11%
FB $118.57 0.84%
GOOG $698.21 0.75%
TSLA $241.80 0.43%
YHOO $36.53 -0.19%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs