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Rentech Nitrogen reports lower results on Pasadena plant weakness

5:10 AM MDT | August 8, 2014 | Lindsay Frost

Rentech Nitrogen posted second-quarter operating income of $23.2 million, down 31% year-over-year (YOY). Operating income excludes the impact of the expected impairment of goodwill related to the company’s Pasadena, CA facility. Earnings per share of 13 cts were far below analyst estimates of 65 cts, according to Thomson Reuters (New York). Sales of $113.6 million were up 9% YOY. “Market conditions have improved for our East Dubuque, IL facility. The same strength in ammonia prices that is helping results at East Dubuque is hurting our margins at...

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