LSB Industries, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>LSB Industries, Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing financial performance and corporate information.</b>

AI Summary

LSB INDUSTRIES, INC. (LXU) filed a Quarterly Report (10-Q) with the SEC on April 30, 2024. LSB Industries, Inc. reported financial results for the quarter ending March 31, 2024. The company's fiscal year ends on December 31st. LSB Industries, Inc. is classified under the Industrial Inorganic Chemicals sector (SIC 2810). The filing includes details on various financial instruments and equity accounts. Key dates related to debt maturities include October 31, 2028, and August 31, 2025.

Why It Matters

For investors and stakeholders tracking LSB INDUSTRIES, INC., this filing contains several important signals. This 10-Q filing provides investors with an updated view of LSB Industries' financial health and operational status for the first quarter of 2024. Understanding the company's financial position, debt structure, and equity changes is crucial for assessing its investment potential and future outlook.

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 cyclical demand and price volatility, impacting financial performance.

Analyst Insight

Monitor LSB Industries' upcoming earnings reports and management commentary for insights into demand trends and pricing strategies within the chemical sector.

Key Numbers

• 2024-03-31 — Report Date (CONFORMED PERIOD OF REPORT)
• 2024-04-30 — Filing Date (FILED AS OF DATE)
• 2024-01-01 — Q1 Start Date (Reporting Period)
• 2024-03-31 — Q1 End Date (Reporting Period)

Key Players & Entities

• LSB INDUSTRIES, INC. (company) — FILER
• 0000060714 (company) — CENTRAL INDEX KEY
• INDUSTRIAL INORGANIC CHEMICALS (company) — STANDARD INDUSTRIAL CLASSIFICATION
• 2810 (company) — STANDARD INDUSTRIAL CLASSIFICATION
• OKLAHOMA CITY (company) — BUSINESS ADDRESS CITY
• October 31 2028 (dollar_amount) — Debt Maturity
• August 31, 2025 (dollar_amount) — Debt Maturity
• Kristy D. Carver (person) — Executive Name

FAQ

Industry Context

LSB Industries operates in the industrial inorganic chemicals sector, which is characterized by the production of essential chemicals used in various industrial processes.

Regulatory Implications

The company is subject to SEC regulations for public filings, including the requirement to submit quarterly reports (10-Q) to disclose financial information.

What Investors Should Do

1. Analyze the company's balance sheet for changes in debt and equity structure.
2. Review any disclosed revenue or net income figures for the quarter.
3. Assess the company's cash flow statement for operational and investing activities.

Key Dates

• 2024-03-31: Quarterly Period End — Financial results for Q1 2024
• 2024-04-30: Filing Date — Submission of the 10-Q report

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides an update on the company's financial performance and condition between annual reports.)

Industrial Inorganic Chemicals

A sector focused on the production of chemicals that are not derived from living matter. (Indicates the industry in which LSB Industries operates, subject to specific market dynamics.)

Year-Over-Year Comparison

This filing represents the quarterly report for the period ending March 31, 2024, providing an update since the last annual or quarterly filing.

Filing Documents

• lxu-20240331.htm (10-Q) — 1506KB
• lxu-ex31_1.htm (EX-31.1) — 13KB
• lxu-ex31_2.htm (EX-31.2) — 13KB
• lxu-ex32_1.htm (EX-32.1) — 7KB
• lxu-ex32_2.htm (EX-32.2) — 7KB
• 0000950170-24-050522.txt (&nbsp;) — 6025KB
• lxu-20240331.xsd (EX-101.SCH) — 1007KB
• lxu-20240331_htm.xml (XML) — 790KB

– Financial Information

PART I – Financial Information Page Item 1.

Financial Statements

Financial Statements 3 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 29 Item 4.

Controls and Procedures

Controls and Procedures 29

– Other Information

PART II – Other Information Item 1.

Legal Proceedings

Legal Proceedings 34 Item 1A.

Risk Factors

Risk Factors 34 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34 Item 3. Defaults Upon Senior Securities 34 Item 4. Mine Safety Disclosures 34 Item 5. Other Information 34 Item 6. Exhibits 35 When we refer to "us", "we", "our", "Company" or "LSB" we are describing LSB Industries, Inc. and its subsidiaries. 2 PART I FINANCIA L INFORMATION

Financ ial Statements

Item 1. Financ ial Statements LSB INDUSTRIES, INC. CONDENSED CONSOLIDAT ED BALANCE SHEETS (Information at March 31, 2024 is unaudited) March 31, December 31, 2024 2023 (In Thousands) Assets Current assets: Cash and cash equivalents $ 125,991 $ 98,500 Restricted cash 2,532 2,532 Short-term investments 139,238 207,434 Accounts receivable 54,108 40,749 Allowance for doubtful accounts ( 366 ) ( 364 ) Accounts receivable, net 53,742 40,385 Inventories: Finished goods 19,643 26,329 Raw materials 2,320 1,799 Total inventories 21,963 28,128 Supplies, prepaid items and other: Prepaid insurance 10,768 14,846 Precious metals 11,560 12,094 Supplies 30,682 30,486 Other 2,767 2,337 Total supplies, prepaid items and other 55,777 59,763 Total current assets 399,243 436,742 Property, plant and equipment, net 832,192 835,298 Other assets: Operating lease assets 27,235 24,852 Intangible and other assets, net 1,449 1,292 Total other assets 28,684 26,144 Total assets $ 1,260,119 $ 1,298,184 Liabilities and Stockholders' Equity Current liabilities: Accounts payable 56,064 68,323 Short-term financing 9,018 13,398 Accrued and other liabilities 38,820 30,961 Current portion of long-term debt 5,742 5,847 Total current liabilities 109,644 118,529 Long-term debt, net 543,835 575,874 Noncurrent operating lease liabilities 18,260 16,074 Other noncurrent accrued and other liabilities 523 523 Deferred income taxes 69,672 68,853 Commitments and contingencies (Note 5) Stockholders' equity: Common stock, $ .10 par value; 150 million shares authorized, 91.2 million shares issued 9,117 9,117 Capital in excess of par value 501,097 501,026 Retained earnings 232,638 227,015 Total stockholders' equity 742,852 737,158 Less treasury stock, at cost: Common stock, 1

View Full Filing

View this 10-Q filing on SEC EDGAR