The EPS beat and strong adjusted EBITDA growth are positive, but the slight revenue miss and the planned turnaround impact on UAN volumes warrant monitoring. The CCS project timeline and EPA permit timing remain key catalysts for future earnings. Watch the Q4 2026 earnings for guidance on 2027 production volumes and the CCS project operational date.
Price Chart
Executive Summary
LSB Industries reported Q3 2026 net sales of $158.6M (up 2% YoY from $155.4M) and diluted EPS of $0.22 (up from $0.10 YoY). Adjusted EBITDA rose to $62.3M from $40.1M. Results exceeded the consensus EPS estimate of $0.20, while revenue slightly missed the $165.4M consensus. The company highlighted strong industrial demand for AN and nitric acid, partially offset by lower UAN sales due to a planned turnaround and a strategic production shift.
Key Financial Metrics
Key Facts
- Net sales of $158.6M in Q3 2026 vs $155.4M in Q3 2025, a 2% increase
- Diluted EPS of $0.22 vs $0.10 in the prior year quarter
- Adjusted EBITDA of $62.3M vs $40.1M in Q3 2025, a 55% increase
- Net income of $16.3M vs $7.1M in Q3 2025
- AN & Nitric Acid sales rose 41% to $80.9M, while UAN sales fell 61% to $20.2M due to a production shift and planned turnaround
- Total cash, cash equivalents and short-term investments of $203.5M and total debt of $442.2M as of September 30, 2026
- EPS of $0.22 exceeded consensus estimate of $0.20; revenue of $158.6M slightly missed consensus of $165.4M
- El Dorado CCS project: company assumed full ownership in May 2026; expects $25M-$30M annual earnings when fully operational
Financial Impact
EPS of $0.22 vs consensus $0.20 (beat by 10%); revenue of $158.6M vs consensus $165.4M (miss by 4.1%); Adjusted EBITDA up 55% YoY to $62.3M
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| AN & Nitric Acid | $80.9M | +40.7% |
| Urea ammonium nitrate (UAN) | $20.2M | -60.7% |
| Ammonia | $45.2M | +21.9% |
| Other | $12.3M | +30.3% |
Risk Factors
- Revenue slightly missed consensus estimates
- UAN sales volumes fell 59% due to planned turnaround and production shift to AN
- CCS project operational date uncertain, dependent on EPA Class VI permit timing
- Global nitrogen supply disruptions and natural gas cost volatility could impact margins
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-436180 |
| Document: lxu-20260728.htm | 0001193125-26-436180 |
| Document: 0001193125-26-436180-index-headers.html | 0001193125-26-436180 |
| Document: 0001193125-26-436180-index.html | 0001193125-26-436180 |
| Document: 0001193125-26-436180.txt | 0001193125-26-436180 |
| 8-K Data (Synthetic) | 0001193125-26-436180 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 28, 2026 2d ago | 8-K | $11.12 | awaiting T+20 | awaiting T+20 | $11.52 (+3.60%) |
Sep 9, 2026 7w ago | 8-K | $11.70 $10.20 | ▼ −12.82% | ▼ −14.76% | $11.52 (−1.54%) |
Jun 1, 2026 21w ago | 8-K | $13.06 $10.64 | ▼ −18.53% | ▼ −16.96% | $11.52 (−11.79%) |
May 22, 2026 23w ago | EFFECT | $13.04 $11.13 | ▼ −14.69% | ▼ −13.27% | $11.52 (−11.66%) |
May 21, 2026 23w ago | 8-K | $13.04 $11.13 | ▼ −14.69% | ▼ −13.27% | $11.52 (−11.66%) |
May 14, 2026 24w ago | S-3 | $14.50 $11.93 | ▼ −17.72% | ▼ −19.84% | $11.52 (−20.55%) |
May 14, 2026 24w ago | S-3ASR | $14.50 $11.93 | ▼ −17.72% | ▼ −19.84% | $11.52 (−20.55%) |
Apr 27, 2026 26w ago | 8-K | $14.85 $13.36 | ▼ −10.03% | ▼ −15.50% | $11.52 (−22.42%) |
Apr 15, 2026 28w ago | DEFA14A | $14.15 $15.44 | ▲ +9.12% | ▲ +3.07% | $11.52 (−18.59%) |
Apr 7, 2026 29w ago | 8-K | $14.76 $15.30 | ▲ +3.66% | ▼ −4.89% | $11.52 (−21.95%) |
US Market Status
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