Intrepid Potash Q1 Profit Decreases, misses estimates

(RTTNews) - Intrepid Potash (IPI) revealed earnings for first quarter that decreased from last year and missed the Street estimates.

The company's bottom line totaled $4.51 million, or $0.35 per share. This compares with $31.42 million, or $2.31 per share, in last year's first quarter.

Excluding items, Intrepid Potash reported adjusted earnings of $4.65 million or $0.37 per share for the period.

Analysts on average had expected the company to earn $0.67 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 16.7% to $86.92 million from $104.40 million last year.

Intrepid Potash earnings at a glance (GAAP) :

-Earnings (Q1): $4.51 Mln. vs. $31.42 Mln. last year. -EPS (Q1): $0.35 vs. $2.31 last year. -Analyst Estimates: $0.67 -Revenue (Q1): $86.92 Mln vs. $104.40 Mln last year.