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Intrepid Potash reports earnings drop

2:34 PM MST | February 12, 2014 | Lindsay Frost

Intrepid Potash reported a fourth-quarter net loss of $6 million, compared to a gain of $14.5 million in the year-ago quarter. Earnings of 8 cts/share were above analyst estimates of breakeven, according to Thomson Reuters. Sales dropped 33% year-over-year (YOY),  to $73.8 million. "It was a tough quarter of transition at our plants while decommissioning old plants and commissioning and ramping up new plants, all against the backdrop of uncertain demand caused by plunging potash prices,” says executive chairman of the board Bob Jornayvaz...

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