Terra's Profits Soar on High Selling Prices

Terra Industries reported earnings of $100.2 million (97 cts/share), up compared with earnings of $5.9 million (6 cts/share) for the year-ago period. The 2007 results included a one-time loss on early retirement of debt of $38.7 million. Sales increased 39.8%, to $574.7 million, primarily due to higher nitrogen selling prices, which more than offset the increase in natural gas costs. “Terra benefited in the first quarter from the continuing positive relationship between strong commodity grain prices and nitrogen demand, which supported healthy nitrogen...

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