$LXU

LSB INDUSTRIES INC

CIK:0000060714|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Net sales	$ 168,092	$ 151,296	$ 337,579	$ 294,728
Cost of sales	156,631	128,123	290,324	257,171
Gross profit	11,461	23,173	47,255	37,557
Selling, general and administrative expense	12,931	9,844	26,756	19,997
Other expense, net	1,272	2,836	85	2,599
Operating (loss) income	(2,742)	10,493	20,414	14,961
Interest expense, net	7,070	7,886	14,187	15,950
Loss on extinguishment of debt	0	59	0	59
Non-operating other income, net	(1,706)	(1,542)	(3,222)	(3,215)
(Loss) income before income taxes	(8,106)	4,090	9,449	2,167
(Benefit) provision for income taxes	(1,917)	1,084	(4,047)	801
Net (loss) income	$ (6,189)	$ 3,006	$ 13,496	$ 1,366
Basic:
Net (loss) income	$ (0.09)	$ 0.04	$ 0.19	$ 0.02
Diluted:
Net (loss) income	$ (0.09)	$ 0.04	$ 0.18	$ 0.02

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net income	$ 13,496	$ 1,366
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred income taxes	(4,248)	711
Loss on extinguishment of debt	0	59
Depreciation and amortization of property, plant and equipment	42,865	40,765
Stock-based compensation	7,667	3,821
Write-downs of property, plant and equipment	327	2,599
Other	190	1,578
Cash provided (used) by changes in operating assets and liabilities:
Accounts receivable	4,552	(12,564)
Inventories	3,035	190
Prepaid insurance	7,045	8,420
Supplies, prepaid items and other	2,526	(2,937)
Accounts payable	29,702	(15,967)
Accrued interest	(2,284)	(2,745)
Other assets and other liabilities	6,281	(295)
Net cash provided by operating activities	111,154	25,001
Cash flows from investing activities
Expenditures for property, plant and equipment	(46,241)	(39,347)
Development of carbon capture and sequestration facility	(10,819)	0
Proceeds from short-term investments	147,665	154,565
Purchases of short-term investments	(215,777)	(110,281)
Recovery of property, plant and equipment costs	20,884	0
Other investing activities	3,335	(111)
Net cash (used) provided by investing activities	(100,953)	4,826
Cash flows from financing activities
Repurchases of 6.25% Senior Secured Notes	0	(32,076)
Payments on other long-term debt	0	(3,004)
Payments on short-term financing	(7,062)	(8,019)
Acquisition of treasury stock, net	161	157
Taxes paid on equity awards	(2,081)	(1,182)
Other financing activities	(374)	(319)
Net cash used by financing activities	(9,356)	(44,443)
Net increase (decrease) in cash and cash equivalents	845	(14,616)
Cash and cash equivalents at beginning of period	19,511	20,230
Cash and cash equivalents at end of period	$ 20,356	$ 5,614

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 20,356	$ 19,511
Short-term investments	197,624	128,960
Accounts receivable	53,058	57,609
Allowance for doubtful accounts	(366)	(401)
Accounts receivable, net	52,692	57,208
Inventories:
Finished goods	13,819	16,705
Raw materials	2,032	1,605
Total inventories	15,851	18,310
Supplies, prepaid items and other:
Prepaid insurance	5,544	12,588
Precious metals	13,532	14,538
Supplies	33,241	33,399
Other	5,731	5,380
Total supplies, prepaid items and other	58,048	65,905
Assets held for sale	1,000	3,400
Total current assets	345,571	293,294
Property, plant and equipment, net	833,243	833,525
Other assets:
Operating lease assets	44,601	45,571
Intangible and other assets, net	1,185	1,149
Total other assets	45,786	46,720
Total assets	1,224,600	1,173,539
Current liabilities:
Accounts payable	102,591	64,514
Short-term financing	3,624	10,686
Accrued and other liabilities	35,478	29,551
Current portion of long-term debt	774	760
Total current liabilities	142,467	105,511
Long-term debt, net	440,575	440,295
Noncurrent operating lease liabilities	36,497	37,668
Other noncurrent accrued and other liabilities	535	535
Deferred income taxes, net	65,309	69,557
Commitments and contingencies (Note 5)
Stockholders' equity:
Common stock, $.10 par value; 150 million shares authorized, 91.2 million shares issued	9,117	9,117
Capital in excess of par value	508,493	506,821
Retained earnings	245,771	232,275
Total stockholders' equity	763,381	748,213
Less treasury stock, at cost:
Common stock, 19.2 million shares (19.5 million shares at December 31, 2025)	224,164	228,240
Total stockholders' equity	539,217	519,973
Total liabilities and stockholders' equity	$ 1,224,600	$ 1,173,539