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January 21, 2014
07:15 EDTLXULSB sees 3-year plan for Chemical, Climate Control business to up EBITDA
LSB Industries announced that its board of directors has reviewed the open letter issued by Engine Capital and has issued its response to LSB shareholders. The Board and management team said, "our three-year operating and capital plan for our Chemical and Climate Control businesses will significantly increase EBITDA." The Company is making investments in LSB’s Chemical facilities necessary to drive growth and value creation, and better position LSB to capitalize on favorable market dynamics. LSB’s three-year capital spending plan includes, $250M-$300M for the construction and completion of an ammonia plant at the El Dorado facility. It also includes $120M for the new 65% nitric acid plant and concentrator also at the El Dorado facility. Taken together, the capital investments in the El Dorado facility, once complete, are expected to contribute approximately $90M-$100M of incremental annual EBITDA, based on anticipated market conditions. It also includes $50M-$75M in plant reliability enhancements, and environmental and safety upgrades at all of our chemical facilities and $35M-$40M for the development of the Zena natural gas leasehold.
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March 16, 2015
12:47 EDTLXULSB Industries targets 750,000-800,000 gross tons of ammonia production by 2017
Company targets revenue growth of 12% or higher CAGR from 2014 to 2017 for its chemical business. Targets FY17 chemicals EBITDA margin over 30%. Targets FY17 chemicals operating margin over 20%. Targets 750,000-800,000 gross tons of ammonia production by 2017. Targets 95% on-stream rate at ammonia plants. For its climate control business, targets revenue growth of 10% or higher CAGR from 2014 to 2017. Targets FY17 climate control EBITDA margin over 15%. Targets FY17 climate control operating margin over 14%. Company believes near-term spin of climate control business would substantially increase leverage at a time when the company most needs to preserve liquidity and maximize free cash flow. Believes sale of climate control unit now would fail to generate proceeds that reflect the potential of the business. Says MLP not appropriate at this time. Information given in slides that will be presented at the Sidoti & Company Small-cap Equity Conference.
06:32 EDTLXULSB Industries retains Spencer Stuart for President of Chemical Business search
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