$LXU
LSB INDUSTRIES, INC.

2019 Q2 Form 10-Q Financial Statement

#000156459019014301 Filed on April 30, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2019 Q1 2018 Q1
Revenue $121.5M $94.15M $100.5M
YoY Change 17.76% -6.27% -18.56%
Cost Of Revenue $101.9M $86.83M $90.40M
YoY Change 1.72% -3.94% -19.07%
Gross Profit $19.68M $7.318M $10.09M
YoY Change 540.32% -27.49% -13.1%
Gross Profit Margin 16.19% 7.77% 10.05%
Selling, General & Admin $8.366M $7.224M $8.303M
YoY Change -0.37% -13.0% -21.26%
% of Gross Profit 42.52% 98.72% 82.26%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $17.40M $16.83M $17.74M
YoY Change -10.91% -5.13% 3.63%
% of Gross Profit 88.43% 229.93% 175.73%
Operating Expenses $8.366M $7.224M $8.303M
YoY Change -0.37% -13.0% -21.26%
Operating Profit $11.35M $71.00K $1.884M
YoY Change -293.3% -96.23% -18.83%
Interest Expense $11.32M $10.99M $9.306M
YoY Change 1157.22% 18.06% -0.56%
% of Operating Profit 99.74% 15474.65% 493.95%
Other Income/Expense, Net $868.0K -$224.0K $909.0K
YoY Change 768.0% -124.64% -493.51%
Pretax Income $900.0K -$11.14M -$6.513M
YoY Change -103.88% 71.04% -10.39%
Income Tax -$5.733M $400.0K -$922.0K
% Of Pretax Income -637.0%
Net Earnings $6.631M -$11.54M -$5.591M
YoY Change -124.11% 106.4% -6.6%
Net Earnings / Revenue 5.46% -12.26% -5.57%
Basic Earnings Per Share
Diluted Earnings Per Share $234.9K -$410.7K -$203.6K
COMMON SHARES
Basic Shares Outstanding 28.77M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q2 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $58.00M $21.70M $28.70M
YoY Change 22.88% -24.39% -36.22%
Cash & Equivalents $57.97M $21.71M $28.67M
Short-Term Investments
Other Short-Term Assets $39.20M $41.20M $45.80M
YoY Change -6.22% -10.04% 5.05%
Inventory $19.59M $32.54M $20.90M
Prepaid Expenses
Receivables $52.21M $46.00M $62.60M
Other Receivables $0.00 $0.00 $900.0K
Total Short-Term Assets $169.0M $141.5M $158.8M
YoY Change 17.45% -10.89% -14.62%
LONG-TERM ASSETS
Property, Plant & Equipment $951.5M $962.5M $998.4M
YoY Change -3.56% -3.59% -6.6%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $20.71M $22.43M
YoY Change
Total Long-Term Assets $972.3M $985.0M $1.009B
YoY Change -2.42% -2.41% -6.42%
TOTAL ASSETS
Total Short-Term Assets $169.0M $141.5M $158.8M
Total Long-Term Assets $972.3M $985.0M $1.009B
Total Assets $1.141B $1.127B $1.168B
YoY Change 0.09% -3.56% -7.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $43.85M $49.90M $49.00M
YoY Change -14.52% 1.84% -8.07%
Accrued Expenses $29.10M $37.70M $30.60M
YoY Change 35.98% 23.2% -42.05%
Deferred Revenue
YoY Change
Short-Term Debt $3.222M $5.900M $6.100M
YoY Change 28.88% -3.28% 12.96%
Long-Term Debt Due $8.672M $12.28M $9.065M
YoY Change -32.77% 35.41% -23.18%
Total Short-Term Liabilities $85.53M $105.7M $94.80M
YoY Change -2.81% 11.5% -23.11%
LONG-TERM LIABILITIES
Long-Term Debt $448.2M $412.9M $399.4M
YoY Change 11.08% 3.38% -1.5%
Other Long-Term Liabilities $16.20M $18.00M $11.20M
YoY Change 51.4% 60.71% 7.69%
Total Long-Term Liabilities $448.2M $412.9M $399.4M
YoY Change 11.08% 3.38% -3.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $85.53M $105.7M $94.80M
Total Long-Term Liabilities $448.2M $412.9M $399.4M
Total Liabilities $533.7M $593.7M $559.3M
YoY Change -4.77% 6.15% -11.33%
SHAREHOLDERS EQUITY
Retained Earnings $133.0M
YoY Change
Common Stock $3.128M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $16.73M
YoY Change
Treasury Stock Shares
Shareholders Equity $322.1M $322.8M $425.9M
YoY Change
Total Liabilities & Shareholders Equity $1.141B $1.127B $1.168B
YoY Change 0.09% -3.56% -7.62%

Cashflow Statement

Concept 2019 Q2 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $6.631M -$11.54M -$5.591M
YoY Change -124.11% 106.4% -6.6%
Depreciation, Depletion And Amortization $17.40M $16.83M $17.74M
YoY Change -10.91% -5.13% 3.63%
Cash From Operating Activities $13.20M $7.061M $1.217M
YoY Change -58.9% 480.2% -81.5%
INVESTING ACTIVITIES
Capital Expenditures -$5.750M $7.115M $6.247M
YoY Change -36.95% 13.89% -55.04%
Acquisitions
YoY Change
Other Investing Activities $50.00K -$9.000K -$95.00K
YoY Change -92.42% -90.53% -81.08%
Cash From Investing Activities -$5.690M -$7.106M -$1.891M
YoY Change -32.74% 275.78% -85.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 28.77M -4.298M -4.278M
YoY Change -661.91% 0.47% -47.57%
NET CHANGE
Cash From Operating Activities 13.20M 7.061M 1.217M
Cash From Investing Activities -5.690M -7.106M -1.891M
Cash From Financing Activities 28.77M -4.298M -4.278M
Net Change In Cash 36.28M -4.343M -4.952M
YoY Change 95.69% -12.3% -66.92%
FREE CASH FLOW
Cash From Operating Activities $13.20M $7.061M $1.217M
Capital Expenditures -$5.750M $7.115M $6.247M
Free Cash Flow $18.95M -$54.00K -$5.030M
YoY Change -54.05% -98.93% -31.23%

Facts In Submission

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TaxReformAdjustmentsToProvisionForIncomeTaxes
0
CY2019Q1 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0
CY2018Q1 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0
CY2019Q1 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
-45000
CY2018Q1 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
-12000
CY2019Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
-45000
CY2018Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
-12000
CY2019Q1 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
323000
CY2018Q1 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-785000
CY2019Q1 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
122000
CY2018Q1 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-125000
CY2019Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.04
CY2018Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.14
CY2019Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Explanation
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionExplanation
contracts have an original expected duration of one year or less, for our contracts with a duration greater than one year, the average remaining expected duration was approximately 14 months
CY2019Q1 lxu Weighted Average Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
WeightedAverageRevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod
P14M
CY2019Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
8100000
CY2019Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-48000
CY2018Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-851000
CY2019Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
11901000
CY2018Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
13859000

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