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LSB Industries (LXU) investor relations material
LSB Industries Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary30 Oct, 2025
Executive summary
Net sales for Q3 2025 increased 42% year-over-year to $155.4 million, with net income of $7.1 million reversing a $25.4 million loss in Q3 2024 and diluted EPS improving to $0.10 from $(0.35).
Adjusted EBITDA more than doubled to $40.1 million from $17.5 million year-over-year, with margin improving to 26% from 16%.
Strong free cash flow generation and a robust balance sheet, with $152 million in cash and net leverage at approximately 2x, support ongoing investment and value creation.
Completed transition from fertilizer-grade ammonium nitrate to industrial-grade ANS, optimizing sales mix and reducing spot market exposure.
Ongoing investments in plant reliability, safety, and low-carbon ammonia initiatives, including the El Dorado CCS project, which is on track for late 2026 startup.
Financial highlights
Q3 2025 net sales: $155.4M (up 42% YoY); net income: $7.1M (vs. $25.4M loss YoY); gross profit: $25.5M (vs. $7.9M loss YoY); adjusted EBITDA: $40.1M (up from $17.5M YoY); margin: 26%.
Nine months ended September 30, 2025: net sales $450.2M (up 16% YoY), net income $8.5M (vs. $10.2M loss YoY), gross profit $63.1M (up 51% YoY).
Free cash flow for Q3 was $36M and $21M for the nine months ended September 30, 2025.
Total cash, cash equivalents, and short-term investments stood at $152M; total debt was $448.4M as of September 30, 2025.
Interest expense decreased due to $32.4M in Senior Secured Notes repurchased YTD.
Outlook and guidance
Management expects continued strong demand for industrial and mining products, with robust UAN and ammonia pricing into 2026.
Ammonia supply disruptions and Chinese urea export limitations are expected to support fertilizer prices through Q4 and beyond.
El Dorado low-carbon ammonia project expected operational by end of 2026, targeting $15M annual EBITDA from 2027 and a 25% reduction in Scope 1 emissions.
Capital expenditures for 2025 expected to be ~$80M, focused on sustaining production and growth initiatives.
Sufficient liquidity projected for the next twelve months, with flexibility for opportunistic capital deployment.
El Dorado CCS: EPA Class VI permit status?
Outlook for sustained tight supply in ammonia/UAN?
Impact of 2-3 year turnaround cycle on operations?
How does AN solution transition impact earnings stability?
Timeline for new capacity expansion decisions?
Long-term outlook for ammonia supply dynamics?
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Next LSB Industries earnings date
Q4 202524 Feb, 2026
Next LSB Industries earnings date
Q4 202524 Feb, 2026
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Frequently asked questions
LSB Industries, Inc. is engaged in the manufacture and sale of chemical products for agricultural, industrial, and mining applications. The company produces ammonia and related products, including urea ammonium nitrate, ammonium nitrate, and other specialty chemicals. These products are used primarily as fertilizers in agriculture, as well as in industrial processes such as water treatment and the production of explosives for mining operations. LSB Industries serves customers across North America through its network of manufacturing and distribution facilities. The company is headquartered in Oklahoma City, Oklahoma, and its shares are listed on the NYSE.
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