LSB Industries Earnings: Here’s Why the Stock is Up Now
LSB Industries Inc. (NYSE:LXU) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 0.58%.
LSB Industries Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.02 in the quarter versus EPS of $0.61 in the year-earlier quarter.
Revenue: Decreased 20.79% to $150.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: LSB Industries Inc. reported adjusted EPS loss of $0.02 per share. By that measure, the company missed the mean analyst estimate of $0.09. It missed the average revenue estimate of $168.25 million.
Quoting Management: Jack Golsen, LSB’s Board Chairman and CEO stated, “The past two quarters have been challenging for us as we have worked hard to deal with certain reliability issues in our chemical operations. Now that we have restarted all of the affected facilities after having repaired the mechanical problems, upgraded certain equipment and systems, and augmented our reliability and safety measures, we believe our Chemical Business is well positioned to capitalize on solid market fundamentals for our products. Looking ahead, as we move forward with the planned investment at our El Dorado facility, we feel confident that we can significantly increase our profitability.”
Key Stats (on next page)…