LSB Industries Earnings: Here’s Why Shares are Down Now
LSB Industries Inc. (NYSE:LXU) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.29%.
LSB Industries Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 72.07% to $0.31 in the quarter versus EPS of $1.11 in the year-earlier quarter.
Revenue: Decreased 3.38% to $202.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: LSB Industries Inc. reported adjusted EPS income of $0.31 per share. By that measure, the company missed the mean analyst estimate of $0.32. It beat the average revenue estimate of $181.26 million.
Quoting Management: Jack Golsen, LSB’s Board Chairman and CEO stated, “We have completed necessary repairs and upgrade to our Cherokee and Pryor Facilities that restricted production rates and depressed our financial results in the first half of 2013. These facilities are now operating. We expect our Chemical Business results to improve significantly in the second half of the year. In our Climate Control Business, given the market leading positions of our products, we are well positioned to capitalize on the continued strengthening in demand from both the commercial/institutional and residential sectors, which should lead to further increases in product sales, orders and backlog.”
Key Stats (on next page)…