LSB Industries
Maker of ammonium nitrate, UAN, and ammonia at four US nitrogen-chemical plants.
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Profile
Makes ammonium nitrate, nitric acid, urea ammonium nitrate, and ammonia at four US nitrogen-chemical plants, selling into agricultural fertilizer dealers and industrial buyers such as mining explosives makers, while building a low-carbon ammonia line through a carbon-capture partnership at its Arkansas plant.
Produces nitrogen-based chemicals from four US plants, three owned outright in Arkansas, Alabama, and Oklahoma and a fourth in Texas run under a long-term operating contract. The product line covers ammonium nitrate and nitric acid, urea ammonium nitrate, and ammonia, made from a shared ammonia feedstock.
Output splits across two customer bases: agricultural dealers and distributors supplying grain and ranch country, and industrial buyers in mining explosives, water treatment, and emissions abatement. Recent capital spending has favored plant turnarounds and small debottlenecks over new capacity.
A carbon-capture partnership at the Arkansas plant is building a low-carbon ammonia line, backed by a multi-year supply agreement for the resulting product and a separate collaboration exploring ammonia as a transport fuel.
Natural gas is the primary feedstock, so plant economics track gas costs alongside nitrogen commodity pricing.
Company facts
Categories
Key statistics
Year to date +21.1% · Average volume (30d) 847.9K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 10, 2026 | RBC Capital | Upgrade | Sector Perform | Outperform | $15 | $13 |
| May 13, 2026 | UBS | Reiterate | Neutral | $9.75 | $16 | |
| May 11, 2026 | RBC Capital | Reiterate | Sector Perform | $11 | $15 | |
| Apr 7, 2026 | RBC Capital | Downgrade | Outperform | Sector Perform | ||
| Jan 20, 2026 | RBC Capital | Reiterate | Outperform | $20 | $11 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q2 FY26 | $0.33 | −$0.09 | −127.1% | $155.5M | $168.1M | +8.1% | −3.66% |
| Apr 29, 2026Q1 FY26 | $0.13 | $0.27 | +108.3% | $166.2M | $169.5M | +2.0% | −1.97% |
| Feb 25, 2026Q4 FY25 | $0.18 | $0.22 | +22.2% | $153.8M | $165.0M | +7.3% | +15.17% |
| Oct 29, 2025Q3 FY25 | $0.07 | $0.10 | +42.9% | $153.9M | $155.4M | +1.0% | −9.90% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $143.4M | $151.3M | $155.4M | $165.0M | $169.5M | $168.1M | |
| Gross profit | $14.4M | $23.2M | $25.5M | $41.2M | $35.8M | $11.5M | |
| Operating income | $4.5M | $10.5M | $15.6M | $32.2M | $22.0M | −$1.5M | |
| Net income | −$1.6M | $3.0M | $7.1M | $16.1M | $19.7M | −$6.2M | |
| Diluted EPS | −$0.02 | $0.04 | $0.10 | $0.22 | $0.27 | −$0.09 | |
| Gross margin | 10.0% | 15.3% | 16.4% | 25.0% | 21.1% | 6.8% | |
| Operating margin | 3.1% | 6.9% | 10.1% | 19.5% | 13.0% | -0.9% |
Fiscal years (4-quarter sums)FY21 $556.2M · FY22 $901.7M · FY23 $593.7M · FY24 $522.4M · FY25 $615.2M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $218.0M · Total debt $481.5M · Total assets $1.22B · Shareholders' equity $539.2M
Dividends
No dividends on record.
Ownership
Shares outstanding 71.94M · Float 59.05M · 82.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Boehly Todd L · 10 percent owner | 10.37M | 14.42% | Form 4 | Mar 30, 2026 |
| BlackRock, Inc. | 4.70M | 6.53% | 13F | Aug 7, 2026 |
| American Century Companies Inc | 3.21M | 4.46% | 13F | Aug 12, 2026 |
| Vanguard Capital Management LLC | 2.51M | 3.49% | 13F | Aug 13, 2026 |
| Dimensional Fund Advisors LP | 2.43M | 3.37% | 13F | Aug 11, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 12, 2026 | Jonathan Z. Ackerman | director | +1,000 | $9.89 |
| Jun 10, 2026 | Lynn F. White | director | −40,000 | $11.80 |
| Jun 8, 2026 | Kristy Carver | officer: SVP and Treasurer | −9,554 | $12.38 |
| Mar 26, 2026 | Todd L. Boehly | 10 percent owner | −4,889,159 | $14.85 |
| Mar 2, 2026 | Mark T. Behrman | director, officer: President and CEO | −250,000 | $11.75 |
Peers
- CF Industries
Head-to-head in ammonia and UAN production at far larger scale
- CVR Partners
US-only pure-play nitrogen partnership; closest structural comparable
- Nutrien
World's largest fertilizer producer/retailer; nitrogen, potash, phosphate
- Old Republic International
World's largest commercial explosives and blasting systems provider
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| LSB Industries | $10.39 | +0.10% | $747.4M | 20.8 | 9.7 | 1.1 | +11.1% |
| CF Industries | $125.55 | −0.16% | $19.32B | 9.3 | 9.6 | 2.5 | +17.6% |
| CVR Partners | $125.28 | −0.33% | $1.32B | 8.3 | — | 2.0 | +20.0% |
| Nutrien | $73.84 | +0.44% | $35.29B | 14.9 | 13.7 | 1.3 | +0.3% |
| Old Republic International | $42.07 | 0.00% | $10.25B | 9.2 | 13.1 | 1.1 | +13.4% |
| Median | 9.3 | 13.1 | 1.6 | +15.5% |