Intrepid Potash Q2 Loss Widens

(RTTNews) - Intrepid Potash Inc. (IPI) reported that its net loss for the second quarter of 2016 widened to $13.4 million or $0.18 per share, from $4.9 million or $0.07 per share, in the second quarter of 2015.

Adjusted net loss was $12.5 million, or $0.17 per share, compared with adjusted net loss of $5.4 million, or $0.08 per share last year.

Potash sales of $39.2 million on sales volume of 168,000 tons compared with potash sales of $57.1 million on sales volume of 147,000 tons in the previous year.

Sales for the quarter dropped to $51.84 million from $73.65 million in the prior year.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.15 per share and revenues of $51.04 million. Analysts' estimates typically exclude special items.