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Stock Market & Financial Investment News

News Breaks
November 21, 2012
10:51 EDTLXULSB Industries says chemical business' facility stops ammonia production
LSB Industries announced that its Pryor, Oklahoma chemical facility has stopped production at its principal ammonia plant to perform unplanned maintenance on a compressor. During this downtime, the Pryor Facility will also install a replacement ammonia converter, which is expected to improve the production capacity of this ammonia plant. The company estimates an outage of approximately 6 to 8 weeks. Downtime at the Pryor Facility had been planned for January 2013 to perform the ammonia converter replacement and planned maintenance activities, but this outage began earlier and is likely to be longer than the company previously anticipated due to the need for unplanned maintenance on the compressor. The company estimates that the adverse effect of this downtime on operating income is approximately $2M per week until production resumes.
News For LXU From The Last 14 Days
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March 2, 2015
10:22 EDTLXULSB Industries extends deadline for Starboard to nominate directors
LSB Industries announced that on March 1 the board extended the deadline for Starboard Value to nominate directors for consideration at the 2015 annual meeting of stockholders to March 9 at 5 pm Central time. Director nominations submitted by Starboard prior to 5 p.m. on March 9, that otherwise conform to the requirements of the company’s Bylaws, shall be considered timely. The waiver and extension of the advance notice deadline applies only to Starboard and is applicable only for the 2015 annual meeting of stockholders, LSB said.
06:43 EDTLXULSB Strategic Committee to continue execution of existing strategic plan
LSB Industries announced that the LSB Board’s Strategic Committee and the board have unanimously determined that the continued execution of the company’s existing strategic plan is in the best interests of LSB and its shareholders at this time. The board noted that its decision was made following the unanimous recommendation of the Board’s Strategic Committee. The Strategic Committee will continue to evaluate all strategic alternatives as the current company initiatives underway are implemented and as market conditions warrant. Specifically, once the expansion project at El Dorado is completed and Pryor and Cherokee demonstrate improved consistency of operations, the Committee intends to reassess the ability to enhance shareholder returns through placing some or all of the Company’s Chemical Business into a Master Limited Partnership structure under market conditions at that time. In addition, as end markets accelerate for the Climate Control Business, and the business growth initiatives and other changes drive enhanced performance, LSB will also reassess the viability of alternatives to separate the business. As previously disclosed, the Strategic Committee was established in accordance with the company’s April 2014 settlement agreement with Starboard Value LP. The Strategic Committee’s mandate included a thorough evaluation of potential strategic alternatives for the Company with the assistance of financial, legal and tax advisors. In particular, the Strategic Committee considered separating the Climate Control Business through a spin-off, selling the Climate Control Business, placing some or all of the Company’s Chemical Business into an MLP structure and continuing to execute the Company’s strategic plan.
06:37 EDTLXULSB Industries reports Q4 adjusted EPS 9c vs. (42c) a year ago
Reports Q4 EPS 3c, may not be comparable to consensus 35c. Reported 4Q13 EPS of $1.58. Reports Q4 revenue $181.3M, consensus $181.79M.

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