Intrepid Potash, Inc.

Intrepid Potash, Inc., headquartered in Denver and listed on the New York Stock Exchange under the ticker IPI, is the only producer of muriate of potash in the United States, supplying about 85 percent of its 2024 sales to the domestic market. It mines potash at its HB, Moab and Wendover operations and East facility, and produces Trio, a specialty fertilizer delivering potassium, magnesium and sulfate in a single particle.

For the full year 2024 the company reported total sales of USD 254.7 million, down from USD 279.1 million in 2023, with potash sales of 240,000 tons at an average net realized price of USD 377 per ton and Trio sales of 254,000 tons at USD 311 per ton. Potash production rose 32 percent to 295,000 tons as a multiyear asset revitalization programme, including a new brine injection pipeline at HB and a new primary pond at Wendover, lifted brine grades and output, while Trio production reached 251,000 tons.

The company recorded a net loss of USD 212.8 million, driven by a USD 199.0 million non-cash valuation allowance against deferred tax assets plus USD 7.6 million of impairments, while adjusted net loss was USD 3.7 million and adjusted EBITDA was USD 35.5 million. Cash flow from operations totaled USD 72.5 million, including a USD 45 million payment received from XTO, and the company ended 2024 with approximately USD 41.3 million of cash and no borrowings on its USD 150 million revolving credit facility.