$LXU
LSB INDUSTRIES, INC.

2021 Q2 Form 10-Q Financial Statement

#000156459021039117 Filed on July 29, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $140.7M $105.0M
YoY Change 33.95% -13.57%
Cost Of Revenue $105.7M $86.00M
YoY Change 22.89% -15.56%
Gross Profit $35.01M $19.02M
YoY Change 84.05% -3.33%
Gross Profit Margin 24.88% 18.11%
Selling, General & Admin $8.545M $8.504M
YoY Change 0.48% 1.65%
% of Gross Profit 24.41% 44.71%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $17.27M $17.29M
YoY Change -0.09% -0.63%
% of Gross Profit 49.34% 90.9%
Operating Expenses $8.545M $8.504M
YoY Change 0.48% 1.65%
Operating Profit $26.46M $10.68M
YoY Change 147.63% -5.83%
Interest Expense $12.29M $12.48M
YoY Change -1.49% 10.26%
% of Operating Profit 46.45% 116.77%
Other Income/Expense, Net -$745.0K $128.0K
YoY Change -682.03% -85.25%
Pretax Income $23.42M -$1.664M
YoY Change -1507.57% -284.89%
Income Tax -$248.0K -$1.299M
% Of Pretax Income -1.06%
Net Earnings $23.67M -$365.0K
YoY Change -6584.93% -105.5%
Net Earnings / Revenue 16.82% -0.35%
Basic Earnings Per Share $0.34 -$0.34
Diluted Earnings Per Share $0.32 -$0.34
COMMON SHARES
Basic Shares Outstanding 37.03M 28.20M
Diluted Shares Outstanding 39.19M 28.20M

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $17.63M $56.50M
YoY Change -68.81% -2.59%
Cash & Equivalents $17.63M $56.51M
Short-Term Investments
Other Short-Term Assets $44.12M $39.80M
YoY Change 10.85% 1.53%
Inventory $14.30M $14.30M
Prepaid Expenses
Receivables $67.05M $42.20M
Other Receivables $0.00 $0.00
Total Short-Term Assets $143.1M $152.8M
YoY Change -6.35% -9.59%
LONG-TERM ASSETS
Property, Plant & Equipment $899.6M $934.3M
YoY Change -3.71% -1.81%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $906.4M $941.9M
YoY Change -3.77% -3.12%
TOTAL ASSETS
Total Short-Term Assets $143.1M $152.8M
Total Long-Term Assets $906.4M $941.9M
Total Assets $1.049B $1.095B
YoY Change -4.13% -4.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $51.21M $45.20M
YoY Change 13.3% 3.08%
Accrued Expenses $29.65M $25.10M
YoY Change 18.11% -13.75%
Deferred Revenue
YoY Change
Short-Term Debt $4.516M $3.800M
YoY Change 18.84% 17.94%
Long-Term Debt Due $9.049M $11.49M
YoY Change -21.26% 32.52%
Total Short-Term Liabilities $95.32M $88.30M
YoY Change 7.95% 3.24%
LONG-TERM LIABILITIES
Long-Term Debt $461.5M $487.6M
YoY Change -5.35% 8.79%
Other Long-Term Liabilities $27.65M $21.20M
YoY Change 30.42% 30.86%
Total Long-Term Liabilities $461.5M $487.6M
YoY Change -5.35% 8.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $95.32M $88.30M
Total Long-Term Liabilities $461.5M $487.6M
Total Liabilities $615.6M $631.1M
YoY Change -2.45% 18.25%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $141.0M $210.6M
YoY Change
Total Liabilities & Shareholders Equity $1.049B $1.095B
YoY Change -4.13% -4.08%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $23.67M -$365.0K
YoY Change -6584.93% -105.5%
Depreciation, Depletion And Amortization $17.27M $17.29M
YoY Change -0.09% -0.63%
Cash From Operating Activities $17.87M $21.56M
YoY Change -17.11% 63.33%
INVESTING ACTIVITIES
Capital Expenditures -$8.719M -$7.210M
YoY Change 20.93% 25.39%
Acquisitions
YoY Change
Other Investing Activities $100.0K $120.0K
YoY Change -16.67% 140.0%
Cash From Investing Activities -$8.609M -$7.090M
YoY Change 21.42% 24.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.861M 4.570M
YoY Change -228.25% -84.12%
NET CHANGE
Cash From Operating Activities 17.87M 21.56M
Cash From Investing Activities -8.609M -7.090M
Cash From Financing Activities -5.861M 4.570M
Net Change In Cash 3.401M 19.04M
YoY Change -82.14% -47.52%
FREE CASH FLOW
Cash From Operating Activities $17.87M $21.56M
Capital Expenditures -$8.719M -$7.210M
Free Cash Flow $26.59M $28.77M
YoY Change -7.58% 51.82%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates<span style="font-weight:normal;"> </span>–<span style="font-weight:normal;"> The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. </span></p>
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lxu Product Liability Deductible Per Claim
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CY2021Q2 lxu Liability Reserve
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CY2020Q1 lxu Accrued Pre Judgment And Post Judgment Interest
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lxu Gain Loss On Sale Natural Gas Forward Contracts
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lxu Realized Gain Loss On Natural Gas Forward Contracts Held
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CY2020Q2 lxu Gain Loss On Sale Natural Gas Forward Contracts
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lxu Gain Loss On Sale Natural Gas Forward Contracts
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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
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CY2021Q2 us-gaap Current State And Local Tax Expense Benefit
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us-gaap Current State And Local Tax Expense Benefit
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CY2021Q2 us-gaap Current Income Tax Expense Benefit
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us-gaap Current Income Tax Expense Benefit
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us-gaap Current Income Tax Expense Benefit
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CY2021Q2 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2020Q2 us-gaap Deferred State And Local Income Tax Expense Benefit
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us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2020Q2 us-gaap Deferred Income Tax Expense Benefit
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us-gaap Deferred Income Tax Expense Benefit
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us-gaap Deferred Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Explanation
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contracts have an original expected duration of one year or less, for our contracts with a duration greater than one year at contract inception, the average remaining expected duration was approximately 15 months
lxu Weighted Average Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
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CY2021Q2 us-gaap Contract With Customer Liability
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CY2021Q2 us-gaap Contract With Customer Liability Revenue Recognized
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us-gaap Contract With Customer Liability Revenue Recognized
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CY2020Q2 us-gaap Contract With Customer Liability Revenue Recognized
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us-gaap Contract With Customer Liability Revenue Recognized
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CY2021Q2 us-gaap Dividends Payable Current And Noncurrent
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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lxu Accounts Payable Associated With Financing Professional Fees
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lxu Extinguishment Of Ppp Loan
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