LXU - Earnings call 3 2023 | LSB Industries, Inc.

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Operator

Greetings. Welcome to LSB Industries Third Quarter 2023 Earnings Conference Call. [Operator Instructions] Please note that this conference is being recorded. At this time, I'll turn the conference over to Fred Buonocore, Vice President of Investor Relations. Mr. Buonocore, you may now begin.

Fredric Buonocore

everyone. morning, Good

are Cheryl today our Executive Chief Joining our Mark Chief and Maguire, Financial Officer; me Behrman, Officer.

projections. current Please note are expectations of company's statements the and could a results statements. forward-looking not variety and future intent, of performance, that today's based to call on differ includes They guarantees are cause factors These actual the materially.

in information website, we include reconciliations results Please forward-looking press release results. lsbindustries.com and references see our of further non-GAAP On the to will of section the to regarding call, statements GAAP for Investors the non-GAAP results.

go we stockholder further and attributes. for of over call As have a turn certain Investors website protect our plan important tax details. At reminder, the see section ahead the Mark. a to to rights this lsbindustries.com to time, at Please like I'd

Mark Behrman

Fred. you, Thank

focused As at important was noted injury That reflection recordable presentation, on core third our to embrace team, quarter our thank the value the for of of Page XX-month a continuing X.XX. this company. them our total trailing to and I'd X efforts the is our like of of entire end rate of

our to the results versus disappointed our were into expectations with heading financial the quarter the Turning of results. quarter. We

XXXX. compared the lower was EBITDA adjusted Our third quarter to of

our downstream for to primarily for decline last lower-than-expected That prices also the in While to this is nitric largely quarter. due to products production, limited nitrogen impacting were somewhat by a ability ammonia, impacted relative in our market year, results acid. upgrade the margins

nitric Pryor failure. had exception of better expander in acid Although our we the early our since our September, the plants quarter, of our an with facility at plants run early toe that stubbed one have

more plants our the November top on back quarter. We on for path and all expect color and remain fourth quartile in we facilities. be provide focused the across expander. rebuild service to receive We Cheryl impact expected safety our end will reliability plant to of by install the our after that to

We October, of our major growth initiatives. transition. in also early the on emergence company continued our a energy In a leader announced in global we as to progress milestone the

and Our production collaboration as a and LSB's clean Channel growth energy Air Ship is to with the develop transformative INPEX, potentially world-scale Vopak increases. demand on low-carbon profile Moda export Liquide to Houston facility for ammonia

We are a proud group companies later. with more to this on of be caliber, partnering of this

maximum a project. fertilizer production As initially project with USDA costs of costs project El submitted We to under individual facility our XX% million selected project fund you proposed learned Dorado recall, receive may an with approximately been that recently expand the we estimated $XXX for program. million. to of funding USDA our estimated $XXX a The to expansion has

by to the available XX% elected a $XX of program, the approximately total million. total would amount we requested approximately the the amount. projects exceeded million, submitted funds project all selected under of However, and funds USDA grant assuming each costs at fund receive the remained $XXX the our the of project USDA the and they to requested Therefore, at

and and our corn-growing overview many ongoing throughout markets. quarter which X we the of of successful underway project this our and conditions the documents, of and approval evaluate demand the terms of scope, we reflecting remain prices of dry yet. On and/or conference final for update funding to is keep the an to to first conditions cost the in for which our look Please provide timing a above and that the end on have regions. mind detailed Page environmental more subject U.S. continue call. not We in refine seen be of quarter grant is expected XXXX forward and stable Corn presentation, multiyear completed providing an acceptance averages, assessment, trends the fourth completion to

remain metals next strong is to mining economy. We for would input months input U.S. the growth believe international projects prices and the lower the to over production for raising support the producers strong stable lower XXXX that costs. and balance is and nitrate goal acid production the Nitric by the Demand increases into the and the applications remains the yields corn on as farm of and at XXXX. costs demand applications several global optimize operations is XXXX. Demand demand in our infrastructure expect fertilizer of as aggregate levels for that resilient half XXXX demand from and for first capitalize the fertilizer U.S. U.S. the of business for of electric maximizing quarter other We should industrial shift U.S. quarrying to application fourth steady, to of in incentivize supported continue to ammonium some facilities the in in demand expansion vehicles in farmers

to call our our to Now results over Cheryl discuss outlook. I'll turn the second Cheryl? quarter and

Cheryl Maguire

see generated million quarter summary We our a results. Thanks, third EBITDA the On quarter. morning. you'll X, of adjusted Mark, of financial third and good $X in Page

our Mark results production. nitric by lower-than-expected mentioned, As were acid impacted

derivative approximately of in cash $XX lower EBITDA flow as to cash million flow million nitric maintenance upgrading from costs, customer and from into million majority of last operations Despite Although over we is of by million million, $X third cash cash cost expenditures of prices rate and transporting summary higher $X weaker nitric our pricing quarter nearly XXXX. purchasing EBITDA quarter than product commitments and with sales free able ammonia, a free of reduced from in impact generated $X expenditures record X compared capital our factor third balance selling to somewhat year-over-year key million free our generated volumes and products a nitric the for of of X in the approximately its our or acid our acid The purchasing capital were cash third EBITDA our to facilities. the operations million were year products by for we sheet change of million. Page more $XX bridges other provides flow acid the quarter of the of approximately other transporting meet and The $X $XX had combined our with metrics. approximately $XX to conversion translating of year-to-date, from in flow We million and flow. translating into major relative cash XX%. headwinds, EBITDA. Page flow $XXX adjusted

approximately the CapEx expect expenditures fourth with to million million. year $XX to $XX million for We the capital be approximately quarter for of full $XX

July. the up. been recovery in to metric has pricing per ammonia forward are is global lower the low months $XXX due to up production some prices throughout fourth distribution recent $XXX up relative from This the plants. $XXX nitrogen part to outages in sits ammonia strongly at channel $XXX approximately from at several nitrogen per ton, NOLA with in Tampa Looking ton, UAN currently inventories per of metric quarter, firming ago, international ton July. ton per currently large along

pricing fourth are mind in products quarter sold to largely glad to that will in forward sold we for While during rebound, reflect pricing products QX in pricing. see spot keep the prices our realized addition at some

is year lower As XX% expected be a a ago. quarter approximately to result, than to XX% fourth pricing

sets us up well the recent pricing for rebound However, in XXXX.

in until acid nitric plants back one at of November. be end our will the Mark mentioned, of As service Pryor not facility our

of million to our result, facilities other the transported $X be cost a meet customer on expected fourth EBITDA headwind intend and As commitments is that a approximately quarter. to we with from in additional products

as XX% turn on fourth over costs the Mark. at in back to per are MMBtu. And gas reminder, I'll we Lastly, approximately a approximately it for locked $X quarter now

Mark Behrman

resulting to the the increased plants shows first trend X late downward prices XXXX, producers of European Asian Page XXXX, enabled Cheryl. The global that and idle in you, LNG prices imports. Thank half winter European in in a heavy ammonia natural drop from warm nitrogen gas restart supply. which the began in gas and

against sequestering LSB tons metric and million terminal. terminal ammonia low-carbon ammonia hydrogen capture births. in storage of ammonia planned to is while is The and for Air with deepwater plant pre-FEED Liquide, Houston by world-scale handling a handling recently course low phase into you'll company significantly X also who and produced The project. gas Over prices of multiple approximately X.X produce prices. carbon winter Ship levels, construction the We months. On with of COX. chattel sequestration. equipped represent plant Japan's heading be build We're tons Page infrastructure of ammonia XX, a using approximately reversed disconnect possible this the increased summer gas developing metric could of Channel summary have support the past expected spread widening blue capturing E&P ammonia Moda's will European source believe operate Houston and largest to permanently and is plans months, site million the price a U.S. the Vopak the on currently loop and partnership ammonia an INPEX, X.X find from that announced in Ship

technology Additionally, design, Air supplying the negotiations needs. our nitrogen and Liquide license related of in be will the agreements. basic we to supplier selected were and engineering proprietary catalyst, finalize We equipment the

the In secure addition are ammonia design for engineering to anticipated we customers and working off-take production. activities, to

potential one companies. off-takers producers and are to initial into and XX very of LSB in to of expect we South We in the the ammonia initiatives. caliber an industry. Page provides other transform excited the our with be overview only low-carbon Japanese partnering We're low-carbon predominantly the power Korean both of our companies

with of current U.S. a opportunity sequestration VI have for respect blue green ammonia need uncertainty to permit in be project is to conversations our the our into this gas for our We at about calls we Pryor low-carbon considerable of entrant capital and and globally, buying at the make tax the commence we of application be the a El project project natural ammonia production on site. And costs, remain supply, we our can electricity We the amount capture XXXX, with continue discussions their XXV early of our to to for our with decision We its has are about lowest continue remain encouraged comfortable about the us of with carbon half that capacity. the by second the given forward. The green site, line in in but and time finalization this interest project's to an currently generation discussions with green combined production tax ammonia. credits, the EPA credits cost XXV Class before drives hold. around and excited Dorado off-takers products. With we project this and potential clarity ammonia customers to the move

ammonia lack path to the the they grid, green believe is we works several the However, why then both especially considering project path and pricing making progress and increased sourcing gas to project the bottom U.S. which based significant in easier and green Therefore, industry a it from as us made our natural execute That of is we have which natural from blue gas we've production. blue Dorado a on for on future. Despite of production blue alternatives. El to includes economics. power XXXX, growth effectively to is we facing relative This set of headwind than green that the the considerable line expect sure ammonia challenges compared current is favor drive ammonia well build-out the electricity ammonia premium shareholder produced also for ammonia Houston prices, our prices up to development Channel of Ship today, much products our on value. on focus fronts favoring

a flow, generate to free continue maintain sheet. us enabling to We strong positive cash balance

that portfolio number our a making greater I to and that expanded energy of to continue advancing these We about of first to in advancements of discussed the in quarter contributor I'm we us projects projects the earlier, on expect we a our core have and be future. And XXXX. positioning to transition. progress clarity low-carbon growth excited are we ammonia by the meaningful make

we Thank Before you. questions, remarks, Stock at New the Management events. That be on will take will Day November November to speaking series up York Conference to and for on like those concludes participating in now our we with XX many you prepared any I'd of and look XX. Industrial Granite happy we We Research forward questions. to Exchange that open mention the it in be

Operator

[Operator Instructions] is from with And our the line first of Spector UBS. question Josh

Christopher Perrella

for Houston and the project It's projects, Chris value capture more on cost would be? was Josh. this be could out Perrella you you for look at as you on the the give potential work -- Channel I granularity what would as what Ship some I

Mark Behrman

Yes, sure.

that think between based So is the study, on and of $XXX right now, our project million we feasibility $XXX for million the the cost somewhere loop.

indexed natural to structuring based our on of to and gas it with or that, we're that end way we same the this the So then maybe to customer electricity and index. project, the intend and it's sell is structure buy hydrogen really to to pricing

So we're back-to-back that.

the have ability firm and we we that, contracts, contracts, ability believe the on take-or-pay that. project -- based So finance will to

project say $XXX debt, XX%, the We'll debt. the the $XXX into XX% XX% that. that speaking, leaving generally LSB over loop be to haven't needs in period. to go INPEX's a of And is of But $XXX would But out if able that to quite finance yet. debt. of of million conservative and simplicity of financing about range So equity $XXX project XX-XX nonrecourse and the cash X-year ownership we or LSB purposes, cash structure financing probably that ownership would million that of be be million, for from worked project assume we used and we're million get

Christopher Perrella

All right.

conservatively, the the depending be? what X would So on structure XXX year loop ownership a of final over

Mark Behrman

what standpoint, we be it's of metric of get from blue if And owned would of annual a Correct. tons its us for -- an And half, ammonia XXX,XXX out that tons do basis. production X.X on production. we

Christopher Perrella

would index through? the structure cost All is structure right. indexed, kind try a be that take And would or that and as all pay of you then so to

Mark Behrman

Yes.

So thoughts the the off-take derisk only project And forward and supply move indexing take-or-pay within we again, our ammonia on same with volatility by we if the hydrogen our the able based are -- be had should indexes. we would our same contracts. both to, now

Christopher Perrella

-- All right. I'm And one sorry? then

Mark Behrman

a a creating we then risk like -- almost for to of intend we're an us the going just to a flow, operation And create really is stable I so of stream essence doing stable brand-new just when what was is cash annuity. say, plant. really the

Christopher Perrella

sense. makes that No, then a right. follow-up All And question.

around River for you the -- the we or move on the necessarily have this know implying the up trying With not know direct seeing Mississippi is impact the application but and season lows, seen levels as where ammonia lower water I at and we're market fall or is what Mississippi impacts, season? to of the impact the gear I

Mark Behrman

who's the of think as Generally use to vessels have issues. the levels going around. we're the is particular, of in lower anyone going transportation half Mississippi moving I a Mississippi, to some normalized -- method speaking, almost

that So for real that to people a need becomes issue barge ammonia.

Christopher Perrella

XXXX your fourth has to that And the Or impacted market up spot the a is sales here? set impact? then right. in guess, spot going and more All I quarter that for

Mark Behrman

Yes. We tend don't ammonia barge at all. to

up quite and So we're then not it spot really if move impacted. And couldn't for the it build, ammonia ammonia frankly, became issue south by a it benefit pricing. would have increase those because the available sale corn should from to who real capacity

Christopher Perrella

the And one of right. the or much then just volume into All locked quarter? is question. fourth final How was presold in

Mark Behrman

sales a generally don't suffice are quarter of but give to good say a presold. we Well, fourth our out percentage, that it portion

Operator

Capital Our the next Wong with of question RBC is Andrew from line Markets

Harrison Reynolds

provide on was just strategy Wong. for on hedging the Andrew the comments wondering some next I maybe if position on and year? Harrison any Reynolds thoughts It's for you could

Mark Behrman

Yes.

to we were, where Clearly, the $X people, going about -- gas $X able not of dropped for in couple but be of where So turned talked to earlier this at less XXXX. in we prices $X were between it to gas And lock $X I the we late calls, as thought futures and I'd full ability think last we've on a at gas prudent. were had year, was given MMBtu. down certainly least and year to almost the than and prudent say that -- out

at about the have, quarter fourth we $X. as said, Cheryl for around hedged XX% So gas

the fourth quarter. still with that suffering we're hedge for So

see not will all. you hedge forward, us at Going

leaving month Xst basically little on bit the for We January. will starting most as will plant. daily month. within gas of fluctuations of the gas buy due our just be a gas of the Xst to spot in we But

Operator

Our from the with Jefferies. is next of Laurence Alexander question line

Laurence Alexander

possibly X for questions. you marine early you then give place market can a characterize agreement -- Can into And give agreements an reasonably for demand off-take you the when place? in trends for more how the off-take update ammonia significant is just next you on the about of into start may fall fuel, nitric on to you're acid the is material? thinking blue have think of detail think you'll just sort chunk thinking you little on secondly, And you your One just applications? can on questions. a actually, the Two agreement. year? year-end lastly, needs or One about become bit marine fuel see that into to on off-take when And what end to

Mark Behrman

Sure. Hopefully, questions. I the remember

the for as is in pre-FEED. schedule a our -- many with facilities we're off-take we've on to are our plant, of now, looking lot competitors build So entered are now, Right right discussions well. as ammonia who new currently off-takers

So quarter certainly X evaluate a then and cost are we'll then will FEED, take hopefully that perspective will of year. last second which move where until the into from we XXXX. And

in finish second XXXX. of quarter the we'll So

decision a study, we contracts the the Within executing for ammonia U.S. take-or-pay and Korean have of our produce. off-takers would whether forward, take-or-pay time on not us we FEED we Japanese with so would we're would expect end make contracts. negotiated that and a potentially of on European that have with FID, move we would forward we At and would the and moving FEED, to

sorry... -- As I'm far as

Laurence Alexander

And acid? for nitric

Mark Behrman

upgraded earlier, to acid, that Nitric And be market I in got I say, obviously, see to we've Yes, here, would is then as we've acid, strong. we been the mentioned really other continuing for nitric years. healthy demand and markets far mean, as pretty nitric XX-plus we the last as products. sales acid

seeing pril as trends would the both nitrate, be well. there solution nonfertilizer really today, strong side we're and ammonium and On

will that we So we hope that -- continue. believe

Laurence Alexander

fuel. lastly the on marine And then just

Mark Behrman

a question. a That's is source. how really in new XXX% or there's enough engine working On I'd green engine going actual developing number the there's or that's talk great be going that, of XXXX. and mentioned But that's partial we're an engines other purchase that a they're and vessel I ammonia cost on is about people ammonia-powered that I testing expected know engine Yes. premium. that I to and don't as significant to with mean or whether they there think know ammonia that green activity I are or manufacturers to it. a Whether don't seeing yet to be earlier, using to close thing a willing additional either blue there's the happens we're ammonia say ammonia. purchase I pay in not, as ammonia, to to a fuel

it's whether think, green power big less a so that going fuel And that that. a see talking volumes marine premium that. about, price before But lot carbon. them are to think is, a large, is focused to on be I applications, on ammonia X are applications contracts cap for smaller niche willing will I that that we're off-take there's I put the by think actually much or There of be pay industry, large and to generation marine we're of for or going the to the need sensitive

regulations COX ammonia. it ship over emissions, be moving there'll really forcing will cost how blue a of some the reduce depend on that to Look, are their owners to that. to stringent but So think on I

yet play -- to really I so think And out. it's that's

Operator

Piper of from the Charles Neivert line Sandler. Our is with next question

Charles Neivert

question. One

what guys On into sold you obviously, pricing a higher had the ammonia pricing, XQ. lot than is today

able into you assuming forward there's you haven't basically to sold not on get price. there's impact anything when But -- an much not there. I'm you you ammonia be like of will XQ, -- So said,

you see fairly guys in price assuming So XQ. we a significant ammonia price increase should in for flat,

Mark Behrman

be Yes, I agree. Charlie. expectation, would That the

Charles Neivert

year range the said, ton it to terms the better a capture operating in fee paying when of Or is of under flat at know assume is supposed year they to you plant be basis? of that goes Or all? Dorado forward, going Will vary Are getting then online it's not it's going some everything is if that on let's And at the it level? deal, whatever. El sharing there guys the to each sure locked-in I'm a a lack it's call are every assumption just I like per sort running number I Okay. carbon be going -- is sort forward? and

Mark Behrman

Yes.

year, So that sell there's COX no have on amount of there that. but a we is minimum per ceiling to them

we the we that that that better the plant, a the run higher would it's on So basis. fee ton get per can since

Charles Neivert

is Okay. player can of contract, equipment, you there basically things well And then it and buyout the share? buy the swimmingly pay yourself there these let's continue. say the anything I guess, subsidies a in looking -- just if the Is where instead goes that, in them out become at

Mark Behrman

ability the There there is no, but price to negotiate no something, a is for buyout.

Charles Neivert

becoming Are of we question or last just the down guys and now, started -- and or application like to product weather a already do What ammonia as forgetting come ammonia starting see well, in. is, whether expect getting there Okay. that's some you conditions the Mississippi. do you fall problem? get When up is we the to for And snow a can application? cold -- look

Mark Behrman

we're No, have fall I run. good going think ammonia to a

it. we're I of just or rumblings off to really think it's started. wouldn't suggest that I taken starting hear

we but we've here weather up now weather we're City, in looks the warming think -- spell, around I had like mean, the country know cold Oklahoma I again. significantly. a And warmed So I up

So we anxiously expect to move, tons of we're and of still lot kind a that. awaiting

Charles Neivert

early by is of I year into tanks and the assume that's at are the start once mean, for end this the preferences spring. I I that can objective the as year you assume point. or empty over refilling the application

Mark Behrman

Yes.

Operator

The next question line of with McGuire Research. is Granite the from Rob

Robert McGuire

acid fourth can quarter? volumes? an give kind of if going that's if us idea nitric Has continue the you to on the an And UAW had impact strike your so, into

Mark Behrman

some nitric any seen settled. UAW to impact have the strikes been acid We of and volumes haven't

been they've somewhat short-lived. So

as that see don't I an So issue. being

Robert McGuire

world. And around other think in the shift Great. on out versus And of a projects Do going to you ammonia being lack agreements? of of then number well shifting other a both demand low-carbon there, think bigger you and just worldwide blue put lot there's hold ammonia? over the as agreements. do of you off-take for your off-take those U.S. in due a terms towards anticipate words, forward green projects in Do green ammonia ammonia

Mark Behrman

Yes.

in So what haven't IRA. is government put details. out unfortunately, the But U.S. they their haven't done incentives good they has really given

So the if concerned times. in on And credit, project $X you're kicked basing when they've XXXX a January, road today full down hydrogen finalize XXV the but I kilogram we're possibly that. per several the in early receiving credit, know is can because they'll the now now I hear really

is problem you the don't do think that. to get really just qualify what I know you need to to

lot And clarity makes a projects until moving clear. forward difficult really really so on right? And there's that's it I there, think of

On it's hydrogen, it's it's not for many blue carbon at levels. think years a while ammonia capture for lot -- clearer finalized, side because I just the tax been or credits been lower in clearly blue place have

framework some and of there's least understanding at So it. there

note, move I on projects would a comment won't but can't I and get take-or-pay we if and So people's thinking. believe we I said we project, off-take can. other then we forward can't on that earlier, think they're what I this

based potential with off-takers and impact partner our will So have as opportunity really a contracts. good our ours -- we secure to we're take-or-pay conversations encouraged that on

Robert McGuire

us bring that you're again, on. margin enhancement would And up projects the on working date briefly then to you topics shifting

discussed earlier You year. Analyst them the at Meeting this

when them generate? then type aggregate be idea are the of of the and kind just what an us EBITDA could they together all of of kind of producing Just estimate amount and can if you they'll they give you of catch if

Mark Behrman

Cheryl, you to Sure. want that? do through

Cheryl Maguire

UAN. Pryor. that's problem. urea XX,XXX to additional to ammonia Yes, of we no an expansion the at Rob, project upgrade have so tons That's

during expect We go operation Pryor next at the into turnaround full that year. to

So one enhancement the margin projects from key a of perspective.

So ammonia that's margin the UAN, which you impactful. from is clearly, to know, as at upgrade

first that additional in planned next the also putting of nitric year. at Dorado, El have half acid also We storage for we're

time rate that's allows storage. X,XXX us at those It So maximize of the El upgraded Dorado. running all to at asset and full additional to an allows product plants tons keep us

our another product, summer important on coding also store the that's HDAN well track working one. helps a or export the in the months we HDAN XXXX. in also helps So have of for on It on I also And second quarter, we're durability for with product. opportunities may that always that doesn't heat first with quarter guess, potential agent

the are of run to along furthest EBITDA point. projects I at probably a million of the $XX million point, this at rate think So $X pipeline, but got then are in And that from speak some perspective. to this those the publicly annual more X nothing we've

Robert McGuire

turnaround? last maybe appreciate place of the idea I turnaround of also for pipeline the NuStar just did LSB what update. was year that you idea on one last cost question Can they And that an took during of us that terms quarter. us when and kind their give give tonnage to tonnage in an relative what that

Cheryl Maguire

say most of in to of the tons make would we I the part, up -- quarter. the a were think the we half I for lot So able back

than I a bit little planned. think pipeline the NuStar earlier up came

impact Rob, think, that tons. ammonia the don't for I third material So to a there quarter was the

of did our at a quarter. quite third look volume bit in move we you the If volumes,

Operator

[Operator comes David line question Our of with Begleiter from next Instructions] the Deutsche Bank.

Anthony R Mercandetti

David. farm incomes and get thoughts how going Anthony On to view lower on you corn down prices the Do this commodity yields? quite your is potentially strong lower come This XXXX? have fundamentals Mercandetti a ag fallen, still into with prices operating environment on forward for year. see have you bit Curious perhaps

Mark Behrman

Yes.

an price -- really highs down to healthy or farmers But really corn incentive a recent a maximum prices of corn. and have highs of $X $X. corn and around the for we're for right, from at you're amount the So and sitting price have good a bushel, come still been for plant them of right trending

at some So point you and as given where I a if commodity still for good costs stay think making of and we're -- income. at the those input relatively are which prices, mentioned, now levels they're we're lower we think them, I

strong ammonia think that brand. would planting so translate expecting trend. to into a fall not don't I stronger And we'll see really we're impact, an I think and then we're certainly downward a good application So would see which going

Anthony R Mercandetti

it. earlier feel know early for season from a some how on spring? in puts demand Got that early, challenging mean you've last XXXX mean, And the today? stand on to that just to and trying on viewing year. planting yes, how alluded ammonia us it's I that you're maybe is where then I'm environment of And I through a take the but bit could this just of view what if we point get in can the takes application potentially curious and you you a 'XX there, season for this just

Mark Behrman

Yes.

going So healthy expecting to average see certainly I be fertilizer than XXXX average fertilizer we're will fertilizer I across as And in for that whole, in you nitrogen we're the prices think if look prices board. and XXXX at they a demand XXXX. higher think were

Operator

the we've this At our time, you. Thank session. question-and-answer of end reached

Now I'll remarks. back to hand closing management for the floor

Mark Behrman

please either want Well, to to your or follow and LSB so questions, thank Fred, you other Industries. in free if interest have our you any much. Cheryl I up feel for Thanks in And with for participating earnings call myself.

Operator

conclude today's will This conference.

thank time, disconnect at may your for lines this participation. You you your

LSB Industries (LXU) 2 Nov 232023 Q3 Earnings call transcript