IPI · Intrepid Potash, Inc.

0001421461-26-000014

Summary

Q1 2026 delivered strong profitability growth with revenue of $98.7M driving gross profit up 21.0% to $17.7M and net income up 61.1% to $7.4M, fueled by higher average net realized sales prices per ton in potash and Trio segments.

Key takeaways

Gross profit increased 21.0% to $17.7M, reflecting higher average net realized sales prices across segments.
Operating income rose 24.5% to $6.2M (6.3% margin), supported by pricing gains and operational efficiencies.
Net income grew 61.1% to $7.4M with diluted EPS of $0.56, up 60.0% year-over-year.
Operating cash flow strengthened to $23.2M from $10.9M, enabling $18.0M free cash flow.
Capital expenditures declined to $5.1M from $8.3M, reducing net cash used in investing activities.

Full analysis

Operating income advanced 24.5% to $6.2 million (6.3% margin) from $5.0 million, as pricing strength flowed through to profitability. Net income climbed 61.1% to $7.4 million, with diluted EPS of $0.56 versus $0.35, reflecting the leverage from higher gross margins and controlled expenses. Interest expense, recorded net of capitalized interest on capital projects, contributed to the bottom-line gain.