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
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

LSB Industries, Inc. Comments On 2013 Second Quarter

LSB Industries, Inc. (“LSB”) (NYSE: LXU) today provided an update on the operational status of its chemical facilities and commented on 2013 second quarter results. LSB expects to report its results for the second quarter ended June 30, 2013 on or about August 6, 2013.

On May 7, 2013, we reported that following five months of planned and unplanned downtime at our Cherokee and Pryor Facilities, both facilities had resumed production and would be back to substantially full production in the second half of 2013. At that same time, we advised that the El Dorado Facility’s nitric acid capacity will continue at approximately 80% of the pre-May 2012 level until construction of the new nitric acid plant is completed in 2015.

The Cherokee Facility resumed production in early May and has continued to produce at near historical production rates during May and June. The El Dorado Facility was in production during the entire second quarter.

The Pryor Facility ammonia plant resumed production in late April. However, during May and June, the Pryor Facility ammonia plant was taken out of production once to replace a bearing, and later to replace a coupling that failed. While the Facility was not in operation, additional planned maintenance that had been scheduled for later in the year was performed. These events resulted in 30 days of cumulative unplanned downtime. At this time the Pryor Facility is in production.

During the second quarter, when the Pryor Facility ammonia plant was operating, it produced at near design rates, indicating that the new ammonia converter installed earlier in 2013 should fulfill expectations and sustain higher production rates than it had achieved over the past two and a half years.

Due to the lost production at the Pryor and Cherokee facilities during April, and the lost production at the Pryor Facility in May and June, along with the related high maintenance and repair costs, we estimate the cumulative negative effect to our 2013 second quarter operating income to be approximately $22 million to $24 million.

Stock quotes in this article: LXU 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,424.85 +162.29 1.00%
S&P 500 1,862.31 +19.33 1.05%
NASDAQ 4,086.2250 +52.0640 1.29%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs