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 Partners, L.P. Updates Outlook For 2013 And 2014

Rentech Nitrogen Partners, L.P. (NYSE: RNF), which manufactures and sells nitrogen fertilizer products including ammonia, UAN solution and ammonium sulfate, today provided an update on its outlook for 2013 and 2014. Details on results and forward-looking guidance will be provided when the Partnership releases third quarter operating results on November 7, 2013.

Results for Third Quarter 2013: For the East Dubuque Facility, results for the quarter largely reflected deliveries of fill tons of ammonia and UAN, which were at seasonally low prices, as expected. As is typical during a turnaround year, ammonia deliveries were lighter in the third quarter than in a non-turnaround year. Deliveries of UAN were higher than expected, shifting expected revenue from the fourth quarter to the third quarter.

For the Pasadena Facility, results for the quarter reflected a significant, recent worsening of the market for ammonium sulfate, and the margin impacts of high-cost inventory flowing through cost of sales for products sold at the spot prices negotiated at the end of the third quarter. Forward sales contracts have not developed for ammonium sulfate to the extent that they have for other nitrogen fertilizer products, so it is not possible to lock product prices and input prices at the same time, as has been our practice for a portion of the sales of the most important products of the East Dubuque plant. Since input prices for ammonium sulfate are typically fixed several months before the corresponding product price, margins may be compressed during a declining commodity market. A major factor that further reduced margins for the third quarter was a significant write-down of inventories calculated after the end of the quarter, based on transactions that occurred late in the quarter at prices below the costs of inventory. The Pasadena Facility generated positive EBITDA for the first half of the year, but negative EBITDA in the third quarter, with approximately three-quarters of that loss occurring in September due primarily to the size of the inventory write-down. The Pasadena Facility also experienced several relatively small disruptions in production that, in the aggregate, contributed to lower production and higher cost of sales during the quarter.

1 of 4

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

DOW 18,133.73 +92.19 0.51%
S&P 500 2,114.94 +10.74 0.51%
NASDAQ 5,068.7470 +35.9960 0.72%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs