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Rentech Nitrogen reports sales increase on higher UAN volumes

9:41 AM MDT | May 10, 2013 | Lindsay Frost

Rentech Nitrogen (Los Angeles) reports strength in sales, though weaker earnings, due to higher urea ammonium nitrate (UAN) volumes, though ammonia volumes were lower. Net income for the company fell 23% year-on-year (YOY), to $15 million. Earnings per share of 38 cts/share were below analyst estimates of 52 cts/share, according to Thomson Reuters (New York). Sales of $59.6 million increased 56% YOY because of contributions from its Pasadena, CA, facility and higher UAN volumes. Ammonia volumes in the current period were lower than in the prior year, which...

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