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LSB says production delays at main ammonia plant hurt 3rd-qtr results
Oct 11 (Reuters) - LSB Industries said its third-quarter results were "adversely affected" by lower-than-expected production at its main ammonia plant and additional expenses at its El Dorado, Arkansas facility.
The company, which makes chemical products for the mining, agricultural and industrial markets, said problems at its Pryor, Oklahoma facility prevented it from reaching the targeted production rate of about 600 tons per day.
"Total ammonia production during the third quarter was ... 50 percent lower than our targeted rate," the company said.
The third quarter was also hurt by lost profits and extra expenses at its El Dorado, Arkansas facility following an explosion in May which destroyed the direct strong nitric (DSN) acid plant, LSB said.
The company said revenue for the third-quarter topped $180 million. It reported revenue of $176.8 mln in the year-ago quarter.
LSB is expected to report third-quarter results on or about Nov. 6.
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