LSB's part this John, pleased first I'm to as CFO. the call Thanks, everyone. morning, for good time be taking in and
XXXX, many As the I've of quarter of Company's since time area Vice you most in finance of fourth the then, in of with of Finance. President my know, the since role been
to part result, significant and come. and a to to external-facing have I'm a much in years results. and to of be in quarters many respect more looking in speaking forward we and financial role, taken operations you I'm progress now meeting the with made of with our I've the As excited
results. quarter to and a to year summary comparison. compared of consolidated quarter of provides So, operations statement XXXX full for the a XXXX, fourth turning of our of the the Page fourth with X presentation along quarter as fourth year-to-date
XXXX, discussed recognition year prior our the not financials standards. during adopted new We we in to have QX with and its companies the for many along last restate calls, As chosen public beginning FASB back several revenue go impact.
sales that our and the biggest longer of from us, will For new sales up has no facility revenue income implementation recognition from cost is grossed our no EBITDA. impact This change be on the the resulting our of statement. standards, to Baytown
Baytown forward, be a good as you for presented with earnings our true know, as facility and is how in represents that costs perspective, QX and As on arrangement. line revenue will more comparative Covestro, such, and this manage this in business. Beginning going be the view the margin recognized XXXX economic will From basis. we change a it we of results
results a result XX. year-over-year This business, Slide XXXX. million our respectively a to stronger increased In pricing revenue our from prices Turning Adjusted ag HDAN, at In is to or operating the in net million sales year quarter-over-quarter. XX%, recognition the XX%, standards rate which new total excluding in increased the was and fourth experienced selling we as XXXX. costs sales of look $XX.X XX% excluding for improved in compared impact the costs XXXX, reviewing $XX.X for revenue our into to million year on-stream quarter, average October turnaround of from QX business UAN company. illustrated QX EBITDA full of This full operating continuing time net and excluding $XX.X for as XXXX a net and $XX.X stronger increase underlying a a performance represents turnaround EBITDA, performance for run XXXX, environment. ammonia, the XX% in operations of window adjusted we sold on as million XX% and
of quarter facility Our rates agricultural at our fourth significantly improved. Pryor as ammonia the on-stream volumes increased XX% over were XXXX
facility, for Tampa sales areas volumes see averaged poor in as HDAN down HDAN application negatively higher ammonia improved, of result impacted improved prices per ammonia challenging ton a a higher quarter volumes Although to ammonia versus by $XXX weather. the volumes as of Net movement December. by price. compared XX%, for versus Sales XX% quarter ammonia, as rates XX% the typically fall expanded result were we from of year in a at rates of in the of to indexed fourth grew the fourth sales higher at increased season with rainfall ago. significantly $XXX XXXX, a fourth metric which industrial were quarter products of Dorado El XXXX industrial in also also which marketing on-stream ran on-stream our efforts. metric XXXX. Nitric November due combined overall selling ammonia ton fourth industrial also of resulting on-stream increased are resulting quarter the acid and Tampa to our from where
increased the on plant Dorado nitric the a began AN production we and were locate agreement our facility. outages solution Additionally, emotion take the to at into mining to Dorado sales feed-stock El advantage products sector current fourth to as with prior the customer excess capitalize Net of of able quarter. the several El our at co-producer versus facility. entered acid capacity year We into emotion plant in as we an an selling the
despite approximately to where was work settlement will opportunities fixed million, recognized. our approximately previously negative cost. for $XX approximately administrative gas cost higher at net sales primarily quarter season, from driven legal expenses which a million faulty general company. was facility, was lost Selling, to of a Pryor overall $X.X by the $X.X and EBITDA to XXXX, ammonia the responsible our related of and further and profit impact sales favorable facilities higher In of stock-based increased plant challenging with gas a in $X.X received Gross compensation driven million costs. million, former fourth the fall departure We associated combined XXXX. CEO's remaining our impact increased with subcontractor million severance negative accelerated improved past from our increase of absorption, application all continue higher by also we at with The $X explore
on in Dorado seeking our EPC them of contractor, from honored XXXX, construction subcontractor the early a contractor. they EPC discussed indemnifications our We received As that. terms in involved requested summons our of under we with the damages is and a last case where call, have our plant from not the with our El ammonia contracts
from seek We have of our been subcontractor reimbursement the made and against allegations all contractor. defending vigorously EPC will by the costs
caused at pursue Dorado We also intend the El by performed to recovery facility. damages of subcontractor our work
increase QX EBITDA $X for on bridges our clarity recover incurred track While compared Overall, of we Page costs. non-cash in higher legal XXXX during adjusted HDAN. selling industrial prices remaining ammonia prices adjusted these of higher to net the ammonia, ton attributable or attributable adjusted a the to you results $XX.X EBITDA as selling will to net quarter do improved quarter EBITDA XX. expect further I by to all XXXX information To million fourth mentioned, versus of near-term last the Slide versus I for our this metric million same million further Tampa approximately ag same sales on-stream driven SG&A elevated for the approximately price the the of EBITDA XXXX. EBITDA ton on across adjusted our Higher fourth $XX.X adjusted the pricing for was as with XXXX absorption for resulting approximately metric higher a The impacted Slide quarter due of XXXX products, on ammonia XXXX expenses selling one-time non-GAAP by to which higher on $X to quarter to QX of EBITDA for we improved for million, quarter, increase agricultural combined the versus and QX The was EBITDA driven for the facilities. approximately ammonia increased quarter sales ton bridge the fourth costs, $X.X give some was we Dorado increase for however, million. expect metric rates results in EBITDA EBITDA beginning refer XXXX. period. $XX prior of quarter million higher challenges, cost Please a on-stream consolidated for versus fourth largely to XX year because quarter of by fourth UAN $X.X previously was XXXX measures, volume and primarily average million at improved by our industrial reconciliation of to increase XX of The in last to which El XXXX contributed by XXXX, costs the to of $XXX period, and the discussed year. additional plants. was prices, our Pryor QX and approximately and rates increased the of higher estimate quarter fourth with tempered $X volumes year, This EBITDA weather the $XXX
market a and levels mentioned, fourth led Mark concerns As gas during XXXX. the storage spike of quarter natural gas over low pricing in cold natural weather to
gas see XX, per our more years. than mid-November MMBtu quarter impacted $X.XX increased estimate EBITDA the time which As fourth impact on you higher gas during $X natural high of the as negatively as the mid-December We can costs frame, natural was in quarter to Page averaged approximately MMBtu by four gas for feedstock highest $X.XX price natural million. the and per
during XXXX. more higher in when for the with higher at Additionally, inventory pleased from $X our analyst just months Today, first part I'd gas gas our fourth quarter we the with two would XXXX. that with of normal we are natural our would our note in $XX we to on with prices the entered line been Overall, and predictably our MMBtu industry have have even first markets of be considered estimate were quarter, that business adjusted gas price around to been geographic per declined higher levels we averaging cost will what end impact product of issues in. books that million costs unpredictable $XX produced results, had XXXX sold the weather EBITDA December weather fourth in quarter approximately primary realizing estimates, costs. that are a that the million
on Looking the the for of Tampa and HDAN, of to annual price, XX. the or first with sales ammonia natural forward average price, estimated $X.XX first hedged. have compares Tampa $XX gas current to XXXX, please volume and of per average quarter of selling that gas our movement have shown This in based prices prices. variability MMBtu HDAN the average paying illustrates natural to UAN the gas net EBITDA spot our the of we and ammonia UAN us Also movement our outlook turn Keep average seasonality, Tampa prices market to forward quarter cost quarter. and average in page based our quarter prices are product best second impact UAN XXXX for Page and in typically mind realized for natural due selling the to and the first HDAN quarters on is the sales that and or XXXX current current significant prices a prices a ammonia ton expected
lower of principally and demand on weak fell through nitrogen prices that a ton XXXX result as selling of by net are at first January, a average U.S. fertilizer prices fall application first showing over We quarter quarter of the high season. realized increases inventory UAN the expected caused sold out $XX prices. In per ammonia over are
lower hedged is is metric the per Natural approximately As $X.XX quarter Tampa the ton, including than the the has XXXX. which higher to XXXX $XXX versus averaging date in quarter a first per gas of of MMBtu we've first metric for XXXX. XXXX ammonia of first what a pricing ton averaged pricing, so of first quarter result, $XX quarter far
persisted the for weather and have As the I our wet difficult the UAN that a applications, Very of U.S. our in indicated demand half trends across XXXX first much cold into believe, we we first result forecast months will fertilizer products. But, previously, pre-spring meet the of ammonia two fourth XXXX, quarter weather impacting of from agricultural delayed of XXXX. and of sales for to delay has of QX. will QX HDAN
on So, view sum expect we UAN quarter up first to our in of pricing the the year-over-year XXXX, materially environment. improvement
or headwinds XXXX. pricing below of we lower delayed some to XXXX the have HDAN combined do of first we ammonia expect and of sales slightly Tampa with quarter Therefore, quarter the be ammonia the However, UAN. first with in-line
However, liquidity we Page well giving is, into million positioned inventory volume us outlines the we quarter up the cash with and QX ended the in of of quarter total capital XXXX. have at quarter. structure good our $XX million are $XX approximately to end as news delayed million. $XX and of move over make second end, the at We the availability XX
the going discussed As fourth generally needs spring build. application higher This we on resulting working quarter, season. we call, our year the season shorter last into ammonia true ammonia particularly somewhat due have capital inventory build was the fall to as in this the inventory and
headed including Additionally, down at approximately payment the customers into issuance expect optimizing into $XX which of million, to first has was This season. outstanding XXXX, inventory unamortized the capacity of with to on $XXX in costs approximately as sell a and we our million, use quarter several spring debt. extended we a and capital associated short-term product receivables. we translated discount of Total the working storage short-term receive end collect the debt and back our terms half inventory with delivered as means
and We dividends. outstanding $XX preferred accrued also had in approximately stock unpaid including $XXX million approximately million, of
XX, of the Page was operations XXXX million for Cash months XX million, to approximately our provided outlined the free months $XX.X cash XXXX. to XX compared flow. for Moving we from of $X.X
to interest notes. semiannual secured related payments and in Additionally, senior and interest on XXXX $XX.X semi -- cash our flow million operations includes from approximately million XXXX $XX.X respectively
million we received secured mentioned calls, we XXXX With million QX, in senior execute investments new expenditures, of cash completed that with were of respect the and full to previous earlier approximately second financing in financial Capital greater quarter. connection maturities refinancing additional and that for with we issuance maintenance of approximately of the flexibility provided the extended on $XXX.X As strategy. payments to refinanced our XXXX. of $XXX notes which settled our proceeds $XX you our approximately related million were us earnings from secured and reliability included notes, recall, the million interest during net year predominantly the as flow, $X to accrued senior
For the XXXX, of $XX.X XX cash is months cash $X.X year of the period, operating our consumed we our of compared reflecting million improvement an million improved flow. prior to which balance,
do to year volumes the metrics a full try updates Looking the we the such these currently as the on how the providing year sales as we're quarterly XXXX, is are about one we ranges. that a other Product all of the targets forward of on not reference factors, substantial XX. by on sales on presented cost to top We metrics full volumes with meant year. rates for plan capture think Page using or to the for and of With of on-stream said, our if to demand, XX XX to in there half serve and XXXX potential of basis, for to items. levels our variation exception provide view are change Page points
a a to volumes we material XX-day As shorter Pryor rates, do operating volumes, improved combined compared and turnaround focus improvement despite continued XXXX, anticipated increase our marketing at turnaround in to a at El a of with sales XX-day Dorado. result expect
turnaround supplies. bottom for million, production These includes turnaround a a lost XX which or out-of-pocket of The XX-day $X approximately that Dorado lost forgo be the on costs and associated Cherokee while and actual represents of two-year include turnarounds. XXXX are of Page be repairs XX-day from products contribution El and projected margin schedule. cost turnarounds, three-year with and will any absorption during do our these turnaround contractors, Pryor cycle, and the will costs expenses Following on not will sales
expenses are accounting amortizing as and capitalizing $X current of from are incurred, under the may our who turnarounds. full these policy, be million you which aware, some expensed As our be peers, between different will
will Page of expense lost the majority and expect variable the We along plan cost quarter range with third margin impact XX a absorption SG&A the this expenses that that estimating to well downtime contribution all you CapEx fixed inclusive of of covers reliability results. as our during and to will during Also, $XX the spend million as XXXX. note be we and $XX capital for maintenance turnarounds are million.
acid QX million. capital converter that Dorado during spend, at XXXX, facility our in to cost install sulfuric which included $X.X will plan El we new approximately Additionally, a
We this of attractive expect the significantly capacity advantage us converter while production approximately tons, take to to the to conditions. tons improve new increasing XXX,XXX the plant, sulfuric a reliability XXX,XXX of a annual acid allowing from market
financing We project. are finalizing the equipment capital for this
Now, I'll up. turn Mark it back over to to wrap
