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Intrepid Potash reports earnings drop on weather delays

9:57 AM MDT | May 2, 2013 | Lindsay Frost

Weather-related delays in the spring planting and potash application season resulted in a drop in earnings and sales for Intrepid Potash (Denver, CO) in its first quarter 2013, although potash prices were higher in the quarter. Net income dropped 28% year-over-year (YOY), to $14.9 million on sales down 12%, to $99 million—both impacted by delays in spring planting and potash application, the company says. Earnings per share of 20 cts/share were slightly above analyst estimates of 19 cts/share, according to Thomson Reuters (New York). "Our team...

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