The strong beat and asset sale significantly de-risk the balance sheet and simplify the business to pure-play fertilizer. Monitor Q2 for continued margin improvement and any update on the Wendover lithium project. The stock should re-rate higher given improved fundamentals.
Price Chart
Executive Summary
Intrepid Potash reported Q1 2026 adjusted EPS of $0.62 (29% beat vs $0.48 consensus) and revenue of $98.7M (12% beat vs $88.3M), driven by higher potash prices and Trio margin expansion. The company also completed the $70M sale of Intrepid South Ranch on April 1, 2026, eliminating a segment and bolstering its no-debt balance sheet to $99.3M cash.
Key Financial Metrics
Key Facts
- Q1 2026 revenue from continuing operations: $98.7M vs $94.5M YoY (+4.4%)
- Adjusted EPS from continuing operations: $0.62 vs $0.30 YoY
- Adjusted net income from continuing operations: $8.2M vs $3.9M YoY
- Completed sale of Intrepid South Ranch on April 1, 2026 for $70M cash
- Cash and cash equivalents: $99.3M, no debt on $150M credit facility
- Trio segment gross margin improved to $14.8M from $10.4M YoY on higher pricing
Financial Impact
Earnings beat consensus by 29% on adjusted EPS and 12% on revenue; $70M asset sale strengthens balance sheet to $99.3M cash, no debt.
Risk Factors
- Potash and Trio prices are commodity-driven and subject to volatility
- Trio sales volumes declined 4% YoY despite higher revenue
- Potash segment COGS per ton increased to $334 from $313 YoY, pressuring margins
- Lithium project remains early stage with no near-term revenue
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001421461-26-000012 |
| Document: ipi-20260506.htm | 0001421461-26-000012 |
| Document: 0001421461-26-000012-index-headers.html | 0001421461-26-000012 |
| Document: 0001421461-26-000012-index.html | 0001421461-26-000012 |
| Document: 0001421461-26-000012.txt | 0001421461-26-000012 |
| 8-K Data (Synthetic) | 0001421461-26-000012 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 15, 2026 15w ago | 8-K | $34.19 $40.28 | ▲ +17.81% | ▲ +16.81% | $32.76 (−4.18%) |
Jun 14, 2026 15w ago | Institutional Cluster | $35.86 $41.26 | ▲ +15.06% | ▲ +14.06% | $32.76 (−8.64%) |
Jun 11, 2026 16w ago | Institutional Cluster | $34.36 $40.51 | ▲ +17.90% | ▲ +13.50% | $32.76 (−4.66%) |
Jun 3, 2026 17w ago | 8-K | $37.18 $37.60 | ▲ +1.13% | ▼ −0.75% | $32.76 (−11.89%) |
May 6, 2026 21w ago | 8-K | $38.61 $33.29 | ▼ −13.78% | ▼ −17.61% | $32.76 (−15.15%) |
Apr 17, 2026 24w ago | DEFA14A | $35.78 $34.87 | ▼ −2.54% | ▼ −9.32% | $32.76 (−8.44%) |
Mar 4, 2026 30w ago | 8-K | $39.87 $38.19 | ▼ −4.21% | ▼ −15.51% | $32.76 (−17.83%) |
US Market Status
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