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Quarterly Financial Data (Tables)
 12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Information

Summarized unaudited quarterly financial data for 2018 and 2017 are as follows.

 

 

 

Three months ended

 

 

 

March 31

 

 

June 30

 

 

September 30

 

 

December 31

 

 

 

(In Thousands, Except Per Share Amounts)

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

100,450

 

 

$

103,199

 

 

$

79,781

 

 

$

94,730

 

Gross profit (loss) (1)

 

$

10,093

 

 

$

3,073

 

 

$

(9,742

)

 

$

12,411

 

Net loss (1) (2)

 

$

(5,591

)

 

$

(27,506

)

 

$

(26,084

)

 

$

(13,045

)

Net loss attributable to common stockholders

 

$

(13,603

)

 

$

(35,011

)

 

$

(33,422

)

 

$

(20,705

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and dilutive loss per common share:

 

$

(0.49

)

 

$

(1.27

)

 

$

(1.22

)

 

$

(0.75

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

123,344

 

 

$

122,853

 

 

$

92,390

 

 

$

88,917

 

Gross profit (loss) (1)

 

$

11,615

 

 

$

11,340

 

 

$

(7,285

)

 

$

(10,204

)

Net income (loss) (1) (2)

 

$

(5,986

)

 

$

(7,033

)

 

$

(17,112

)

 

$

914

 

Net loss attributable to common stockholders

 

$

(13,196

)

 

$

(14,515

)

 

$

(24,745

)

 

$

(6,991

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and dilutive:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from continuing operations

 

$

(0.48

)

 

$

(0.53

)

 

$

(0.91

)

 

$

(0.30

)

Income from discontinued operations, net of taxes

 

 

—

 

 

 

—

 

 

 

—

 

 

 

0.04

 

Net income (loss)

 

$

(0.48

)

 

$

(0.53

)

 

$

(0.91

)

 

$

(0.26

)

 

LSB Industries, Inc.

Supplementary Financial Data

Quarterly Financial Data (Unaudited)

(1)

The following income (expense) items impacted gross profit (loss) and net income (loss):

 

 

 

Three months ended

 

 

 

March 31

 

 

June 30

 

 

September 30

 

 

December 31

 

 

 

(In Thousands)

 

Recovery from a settlement with a vendor

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2018

 

$

—

 

 

$

—

 

 

$

—

 

 

$

4,419

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Turnaround expense: (A)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2018

 

$

(302

)

 

$

(1,412

)

 

$

(7,939

)

 

$

(116

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2017

 

$

—

 

 

$

(120

)

 

$

(1,098

)

 

$

(102

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recovery of precious metals:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2017

 

$

—

 

 

$

2,905

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2)

The following income (expense) items impacted net income (loss):

 

Loss on extinguishment of debt

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2018

 

$

—

 

 

$

—

 

 

$

(5,951

)

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2018

 

$

(9,306

)

 

$

(11,693

)

 

$

(11,009

)

 

$

(11,056

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2017

 

$

(9,358

)

 

$

(9,292

)

 

$

(9,291

)

 

$

(9,326

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Severance benefits and accelerated stock-based compensation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2018

 

$

—

 

 

$

—

 

 

$

—

 

 

$

(5,300

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Benefit (provision) for income taxes:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2018

 

$

922

 

 

$

(4,324

)

 

$

2,426

 

 

$

(764

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2017

 

$

1,282

 

 

$

2,761

 

 

$

6,698

 

 

$

30,018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from discontinued operations, net of taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2017

 

$

—

 

 

$

—

 

 

$

—

 

 

$

1,076

 

 

(A)

Turnaround expenses do not include the impact on operating results relating to lost absorption or reduced margins due to the associated plants being shut down.