LSB Industries, Inc. released its financial results for the fourth quarter and full year ended December 31, 2024. For Q4 2024, net sales increased to $134.906 million from $132.613 million in Q4 2023, while the company reported a net loss of $(9.149) million, compared to a net loss of $(5.347) million in the prior year. Full-year 2024 net sales were $522.400 million, down from $593.709 million in 2023, with a net loss of $(19.353) million for the year.
Operational highlights included the Pryor facility achieving a monthly record for urea and UAN production in December, a direct result of the turnaround and urea capacity expansion completed in Q3 2024. The company also completed an injury-free turnaround of the ammonia plant at its Cherokee facility during Q4 2024. LSB provided a 2025 outlook, projecting total ammonia production between 790,000 and 820,000 tons, and increased sales volumes for AN & Nitric Acid (590,000-620,000 tons) and UAN (620,000-650,000 tons).
Regarding its energy transition initiatives, LSB is targeting the startup of low-carbon ammonium nitrate solution production at its El Dorado facility in the second half of 2026, with EPA Class VI permit approval remaining a primary gating item. The company began shipping product to its first off-take customer for low-carbon ammonium nitrate solution in early 2025. For the Houston Ship Channel Project, LSB is engaging with potential customers to determine pricing for high-volume, long-term off-take arrangements, aiming to begin a FEED study in the first half of 2025.
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