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Morgan Stanley is Not Surprised by 4Q Results from Intrepid Potash

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In a report published Thursday, Morgan Stanley analyst Vincent Andrews reiterated an Underweight rating on Intrepid Potash (NYSE: IPI).

In the report, Morgan Stanley noted, “Today's results are unlikely to come as a surprise to investors given recent results and guidance from peers Potash and Mosaic. While guidance is likely to provide an EPS range below street expectations, it is due to higher than expected COGS which are likely to revert lower post HB Solar expansion. Intrepid Potash reported underlying 4Q13 EPS of ($0.11) vs. MS of ($0.05) and consensus of $0.00. Gross profit was inline with our expectations, while SG&A was $0.02 better and tax rate was a $0.09 headwind.”

Intrepid Potash closed on Wednesday at $15.30.

Posted-In: Morgan Stanley Vincent AndrewsAnalyst Color Reiteration Analyst Ratings


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