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Intrepid Potash misses by $0.04, misses on revs. IPI also commented on the extraordinary events that occurred over the last few days in the potash market (IPI) 12.78 -1.10 : Reports Q2 (Jun) earnings of $0.17 per share, excluding non-recurring items, $0.04 worse than the Capital IQ Consensus Estimate of $0.21; revenues fell 6.2% year/year to $92.7 mln vs the $102.84 mln consensus.
Potash
Potash production in Q2 of 2013 was 182,000 tons, up from 170,000 tons in the same period a year ago
Cash operating cost of goods sold, net of by-product credits, was $186 per ton in Q2
Cost of goods sold, net of by-product credits, was $254/ton in the quarter. Cost of goods sold, net of by-product credits, for the first six months of 2013 was $245/ton, essentially flat compared to the first six months of 2012
Potash sales volume was 184,000 tons in the second quarter of 2013, flat compared with the same period of the previous year
Average net realized sales price in Q2 of 2013 was $402 per ton ($443 per metric tonne); Q2 of 2012 average net realized sales price was $465 per ton ($512 per metric tonne).
Langbeinite - Trio:
Langbeinite production was 50,000 tons in Q2 of 2013, up 52% from Q2 of 2012
Cash operating cost of goods sold was $177 per ton in the quarter, a 14% improvement from the same quarter of 2012. Cost of goods sold, net of by-product credits, was $243 per ton in the quarter, a 13% improvement from Q2 of 2012. Trio sales in Q2 were 35,000 tons, a 35% increase from the same period in the prior year
Average net realized sales price for langbeinite, which is marketed as Trio, was $359 per ton ($396 per metric tonne), up 11% from the second quarter of 2012.
IPI also added comments about the recent move by Russian potash producer Uralkali, which caused potash stocks to decline sharply since yesterday.
"The extraordinary events of the last few days in the potash market only confirm that we have taken the right steps to run and manage our business. Our ability to produce potash at low cash costs at our Moab and Wendover solar solution mines is a distinct advantage for us and it is imperative in an uncertain price environment. Our shift to the left on the cost curve as we replicate the success we've demonstrated at Moab and Wendover and ramp up production in 2014 at our new HB solar solution mine makes us more competitive. Additionally, we have a strong balance sheet and capital structure, and we will see our capital investment program step down significantly into next year. We see the recent news about potash pricing as a further catalyst to cause additional delays or cancellations of other companies' expansion projects."
IPI 3 downgrades out this am! These guys are BRILLIANT!!!
Smoke break!!!
VICL I estimate the solid tumor addressable market for Allovectin-7 at over $25 billion a year.
While the Melanoma market alone will produce sales of approximately $1 billion a year for Vical.
With extremely high gross margins, because Allovectin-7 is relatively easy to manufacture compared to most biologics, it will become one of the most profitable cancer drugs of all time.
The implied valuation based upon recently proposed and concluded transactions in the cancer drug area indicate that Vical should be worth more than $10 billion, or $100/share.
!!!
I honestly thought we saw the bottom in p/m! Not so much!!!
My thoughts exactly! Even better than a downgrade!!!
They said the same about European solar subsidy cuts! Look how that turned out!!!
IPI $13 starter! Intrepid (NYSE: IPI) is the largest producer of potash in the U.S. and is dedicated to the production and marketing of potash and Trio®, a product produced from langbeinite ore
Not sure! Don't see any news out but that doesn't mean there is not!!!
Glad I sat that one out!!!
HLF puts are pricey but I sure would like to get some!!!
True! I would still rather be in than out when "news" hits!!!
EBIX 11.70 hod! Nice move into earnings the week of 8/5!!!
VRNG oh my!!!
Is that from Fly?
Vringo Says US PTO Confirms Validity of '420 Patent Related to AOL, Google, et al, Litigation
2:12p ET July 24, 2013 (Benzinga)
VRNG 3.25 looks like the shorts are starting to cover! 18M + to go!!!
AMZN that full teflon suit working well today!!!
VRNG 3.20! Squeezing on USPTO office upholding 420 patent! That was Google's ace in the hole!!!
GENT nice fade!!!
KNDI 5.33 +10%! Missed it!!!
AWAY $30 calls grabbed a couple! Expecting big numbers!!!
MLNX Oy Vey!!!
Estimates are only .20 & 96M, it will come down to guidance that's what I'm afraid of!!!
MLNX got me nervous! Hope the don't drop the ball again!!!
I'd be happy with that monitor setup!!!
MLNX green and rebounding! Call options for E/R tonight!!!
MLNX trying to climb out of the cesspool! E/R needs to be great!!!
ONVO cheapies 6.65! Thanks SA!!!
MLNX in! Holding through E/R!!!
EBIX it's go time!!!
CLNT 5.49 gettin some volume! Tiny floater moves quick! Good for a daytrade!!!
Easy breezy! Good job bob!!!
NFLX in the 260 kamikazee calls %80 cheaper than yesterday! In @ $2, out @ $5! That was quick!!!
CSCO to acquire FIRE for $76!!!
BCRX nice 50% pop on p1 results!!!
DUST back in the 70's, wow! Why couldn't this have happened on Friday? Oh yea, OPEX!!!
AAPL and GOOG both down 1.25%! Amazing bounce on G!!!
UIS Unisys Gets 5-Year Contract With Ceiling Value Of $460M
ISRG $10 bounce so far!!!