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People & Business :: Companies
Terra Nitrogen reports weak quarter on price slump
February 18, 2014 | Lindsay Frost
Terra Nitrogen LP reported fourth quarter net earnings of $113.6 million, down 24% year-over-year (YOY) on sales down 17%, to $168 million. The company says results for the quarter include unrealized mark-to-market gain on natural gas derivatives of $9.3 million. Sales fell due to lower ammonia and urea ammonium nitrate solution (UAN) average selling prices and lower ammonia sales volume, which was partially offset by higher UAN sales volume, the company says. Ammonia average selling price decreased compared to the prior year due to high industry-wide...
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