Oklahoma City's LSB Industries reports downtime at chemical plant

LSB Industries said unplanned maintenance at its Pryor ammonia plant in May and June will affect operating income in the second quarter.
by Paul Monies Modified: July 11, 2013 at 9:27 pm •  Published: July 12, 2013
Advertisement
;

LSB Industries Inc. said it had additional unplanned downtime at one of its chemical plants in May and June that will affect its second-quarter results when they are released in early August.

The Oklahoma City-based company, which also has a climate control manufacturing division, said its quarterly earnings will come in below its original estimates. But better results at its climate control division and expected business interruption insurance payments later in the year will make up for some of the lower revenues.

LSB said it lost ammonia production at its Pryor plant in May and June after shutting down to replace some bearings and couplings. The company said that downtime, along with other maintenance and repair costs, will drop second-quarter operating income to between $9 million to $12 million. LSB had $42.3 million in operating income in the second quarter of 2012.

The company said second-quarter chemical division results also were affected by a later start to the agricultural fertilizer season because of cooler weather and higher costs for natural gas. The Pryor plant has since restarted production.

Continue reading this story on the...

by Paul Monies
Energy Reporter
Paul Monies is an energy reporter for The Oklahoman. He has worked at newspapers in Texas and Missouri and most recently was a data journalist for USA Today in the Washington D.C. area. Monies also spent nine years as a business reporter and...
+ show more


Trending Now


AROUND THE WEB

  1. 1
    Owasso beats Jenks for first time since 1993; Union rolls past BA
  2. 2
    Tulsa police officer recounts saving man from dog mauling
  3. 3
    Missing Tulsa pilot, plane found after authorities narrowed the search
  4. 4
    Russian bombers intercepted near Canadian airspace
  5. 5
    Slender Man costumes cause uproar after stabbing
+ show more