LSB Industries, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>LSB Industries, Inc. has filed its annual 10-K report for the fiscal year ending December 31, 2023, detailing its financial performance and operational status.</b>

AI Summary

LSB INDUSTRIES, INC. (LXU) filed a Annual Report (10-K) with the SEC on March 6, 2024. LSB Industries, Inc. filed its 2023 Form 10-K on March 6, 2024. The filing covers the fiscal year ending December 31, 2023. Key financial data and operational details are presented for the fiscal year. The company's business address is 3503 NW 63rd Street, Suite 500, Oklahoma City, OK 73116-2238. The SIC code for LSB Industries, Inc. is 2810 (Industrial Inorganic Chemicals).

Why It Matters

For investors and stakeholders tracking LSB INDUSTRIES, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of LSB Industries' financial health, operational risks, and strategic initiatives for the past fiscal year, crucial for investors assessing the company's performance and future outlook. The detailed financial statements and risk factors within the report are essential for stakeholders to understand the company's market position, debt structure, and potential challenges in the industrial inorganic chemicals sector.

Risk Assessment

Risk Level: medium — LSB INDUSTRIES, INC. shows moderate risk based on this filing. The company operates in the industrial inorganic chemicals sector, which can be subject to significant market volatility, regulatory changes, and operational risks, as detailed in the filing.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess LSB Industries' performance and potential challenges.

Key Numbers

• 20231231 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 20240306 — Filing Date (FILED AS OF DATE)
• 94 — Public Document Count (PUBLIC DOCUMENT COUNT)
• 2021-01-01 — Sales Revenue Product Line Start Date (us-gaap:SalesRevenueProductLineMember)
• 2023-12-31 — Sales Revenue Product Line End Date (us-gaap:SalesRevenueProductLineMember)
• 2023-12-21 — New Revolving Credit Facility Date (lxu:NewRevolvingCreditFacilityMember)
• 2023-04-01 — El Dorado Chemical Company Financing Start Date (lxu:ElDoradoChemicalCompanyMember)
• 2023-06-30 — El Dorado Chemical Company Financing End Date (lxu:ElDoradoChemicalCompanyMember)

Key Players & Entities

• LSB INDUSTRIES, INC. (company) — FILER
• 0000060714 (company) — CENTRAL INDEX KEY
• 2810 (company) — STANDARD INDUSTRIAL CLASSIFICATION
• DE (company) — STATE OF INCORPORATION
• OKLAHOMA CITY (company) — CITY
• 4052354546 (company) — BUSINESS PHONE
• 19920703 (company) — DATE OF NAME CHANGE
• 20231231 (dollar_amount) — FISCAL YEAR END

FAQ

Risk Factors

• Customer Concentration Risk [medium — market]: The company faces risks due to concentration of its sales revenue with a limited number of customers, including 'CustomerOne'.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K filing.

Key Financial Figures

• $353 million — for our liquidity, we had approximately $353 million of combined cash, restricted cash, shor

Filing Documents

• lxu-20231231.htm (10-K) — 3236KB
• lxu-ex10_42.htm (EX-10.42) — 22KB
• lxu-ex10_55.htm (EX-10.55) — 29KB
• lxu-ex21_1.htm (EX-21.1) — 4KB
• lxu-ex23_1.htm (EX-23.1) — 9KB
• lxu-ex31_1.htm (EX-31.1) — 12KB
• lxu-ex31_2.htm (EX-31.2) — 12KB
• lxu-ex32_1.htm (EX-32.1) — 7KB
• lxu-ex32_2.htm (EX-32.2) — 7KB
• lxu-ex97_1.htm (EX-97.1) — 57KB
• img219916962_0.jpg (GRAPHIC) — 217KB
• 0000950170-24-027144.txt (&nbsp;) — 13789KB
• lxu-20231231.xsd (EX-101.SCH) — 1954KB
• lxu-20231231_htm.xml (XML) — 2368KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 9 Item 1B. Unresolved Staff Comments 25 Item 1C. Cybersecurity 25 Item 2.

Properties

Properties 26 Item 3.

Legal Proceedings

Legal Proceedings 26 Item 4. Mine Safety Disclosures 26 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 27 Item 6. [RESERVED] 27 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 28 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 41 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 41 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 41 Item 9A.

Controls and Procedures

Controls and Procedures 41 Item 9B. Other Information 44 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 44 PART III (Items 10, 11, 12, 13, and 14) 44 The information required by Part III, shall be incorporated by reference from our definitive proxy statement to be filed pursuant to Regulation 14A which involves the election of directors that we expect to be filed with the Securities and Exchange Commission not later than 120 days after the end of its 2023 fiscal year covered by this report. PART IV Item 15. Exhibits and Financial Statement Schedules 45 2 PAR T I

B USINESS

ITEM 1. B USINESS Overview All references to "LSB Industries," "LSB," "the Company," "we," "us," and "our" refer to LSB Industries, Inc. and its subsidiaries, except where the context makes clear that the reference is only to LSB Industries, Inc. itself and not its subsidiaries. Notes referenced throughout this document refer to consolidated financial statement footnote disclosures that are found in Item 8 of this report. LSB is a Delaware corporation, formed in 1968, and headquartered in Oklahoma City, Oklahoma. LSB is committed to playing a leadership role in the energy transition through the production of low and no carbon products that build, feed and power the world. We seek to accomplish this through the manufacture and marketing of essential products for the agricultural, industrial and mining markets, and in the future, energy markets, all with an emphasis on a culture of excellence in customer experience. The Company manufactures ammonia and ammonia-related products in El Dorado, Arkansas (the "El Dorado Facility"), Cherokee, Alabama (the "Cherokee Facility"), and Pryor, Oklahoma (the "Pryor Facility"), and operates a facility on behalf of Covestro LLC ("Covestro") in Baytown, Texas (the "Baytown Facility"). Our products are sold through distributors and directly to end customers throughout the United States and other parts of North America. Our Business Our business manufactures products for three principal markets: Agricultural Markets: ammonia, fertilizer grade high density ammonium nitrate ("HDAN") and urea ammonia nitrate ("UAN"); Industrial Markets: high purity and commercial grade ammonia, ammonium nitrate, sulfuric acids, concentrated, blended and regular nitric acid, mixed nitrating acids, carbon dioxide, and diesel exhaust fluid ("DEF"); and Mining Markets: low density ammonium nitrate ("LDAN") and ammonium nitrate ("AN") solutions. The products we manufacture at our facilities are primarily derived from natural gas (a raw materi

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View this 10-K filing on SEC EDGAR