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Intrepid Potash Inc logo

Intrepid Potash Inc

intrepidpotash.com

What Do They Do?

Sells potash and Trio® fertilizer to customers in agriculture, animal feed, and industrial and oil-and-gas markets, and provides water and oilfield products and services to oil-and-gas businesses.

How Do They Make Money?

Customers buy mineral products and water in mostly short-term, single-product transactions; sales occur when mineral products ship or water is delivered from a facility.

revenue
SegmentShareRevenue
Potash
Sold outright

39%
FY2022: 25%
Trio
Sold outright

48%
FY2022: 17%
Water Product
Sold outright
1.1%
FY2022: 3.3%
Salt
Sold outright
4.1%
FY2022: 1.8%
Magnesium Chloride
Sold outright
2.1%
FY2022: 1.0%
Brines
Sold outright
3.7%
FY2022: 0.9%
Other
2.3%
FY2022: 1.3%

Who Are Their Customers?

Distributors, cooperatives, retailers, and dealers supply agricultural customers; industrial and feed sales go through distributors or directly to end users. Water and brine are sold to a diverse customer base.

Do Revenues Turn Into Profits?

Yes. It kept 4 cents of every revenue dollar as net income in FY2025 and turned 9 cents into free cash flow.

Operating income, FY2025
4% of revenue
▲ Now profitable vs FY2024 (−$19.9M, −8%)
Net income, FY2025
4% of revenue
▲ Now profitable vs FY2024 (−$212.8M, −84%)
Free cash flow, FY2025
9% of revenue
▼ −24% vs FY2024 ($33.8M, 13%)

How Are They Changing?

Since the FY2025 annual report
Latest quarter: Q2 FY2026, the three months to Jun 30, 2026
Revenue
▼ −1%
vs $67.5M in Q2 FY2025
Net income
▲ +377%
vs $3.3M in Q2 FY2025
Trio share of revenue vs 49.2% in Q2 FY2025
  • Aug 4, 2026 Raised production guidance for potash and Trio Raised 2026 production guidance to 290–300 thousand tons for potash and 295–305 thousand tons for Trio.
  • Jun 15, 2026 Appointed Jason Tremblay chief financial officer Tremblay took over the CFO role, replacing interim principal financial officer Cris Ingold.
  • Apr 2, 2026 Sold most Intrepid South assets The sale closed on April 1, 2026, and the assets made up most of the oilfield solutions segment's operations.
  • Mar 16, 2026 CFO Matthew Preston departed Cris Ingold was appointed interim principal financial officer.
Revenue over time
Potash Trio Water Product Salt Magnesium Chloride Brines Other Mineral
$1B$500M$0

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