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Reconciliation of Net (Loss) Income to Adjusted Net (Loss) Income: Reconciliation of Net (Loss) Income per Share to Adjusted Net (Loss) Income per Share: Adjusted earnings before interest, taxes, depreciation, and amortization (or adjusted EBITDA) is calculated as net (loss) income adjusted for certain items that impact the comparability of results from period to period, as set forth in the reconciliation below. The decrease was primarily due to a 13% decrease in Trio® tons sold and a 7% decrease in average net realized sales price per ton. 10-34-0 is 1% less expensive, urea is 5% lower, potash is 8% less expensive, UAN32 is 9% lower, anhydrous is 12% less expensive and UAN28 is 13% lower from last year at this time. In addition, because the presentation of these non-GAAP financial measures varies among companies, these non-GAAP financial measures may not be comparable to similarly titled measures used by other companies. Harvest wheat price is July 2020 CME Group futures price less $.35 basis. Intrepid uses these non-GAAP financial measures as one of its tools in comparing period-over-period performance on a consistent basis and when planning, forecasting, and analyzing future periods. These statements are based on assumptions that Intrepid believes are reasonable. • Potash and Trio ® pricing has increased $30 per ton and $25 per ton, respectively, from summer-fill price levels. On a price per pound of nitrogen basis, the average urea price was at $0.39/lb.N, anhydrous $0.26/lb.N, UAN28 $0.37/lb.N and UAN32 $0.39/lb.N. Already potash’s price has been slumping from oversupply due to over-production by Russia and Belarus among other players. But amid shaky consumer confidence in the economy, there was a bright spot for U.S. agriculture: The CPI’s food index grew 1.5% higher, with the largest increases in cereals and bakery products ever recorded in April. This is the first week that all eight of the major fertilizers tracked by DTN have moved higher in many months, although some fertilizers' prices have been on the rise for weeks. Please correct the following errors and try again: We've detected that you are using an unsupported browser. Intrepid serves diverse customers in markets where a logistical advantage exists and is a leader in the use of solar evaporation for potash production, resulting in lower cost and more environmentally friendly production. We continue to thoughtfully manage our balance sheet due to the considerable uncertainty still surrounding the COVID-19 pandemic and remain optimistic about the potential of our business. Finally, current DAP prices are nearly $400 per ton, the lowest prices observed since 2010. Harvest wheat price is July 2020 CME Group futures price less $.35 basis. See the non-GAAP reconciliations set forth later in this press release for additional information. Magnesium chloride sales improved $0.2 million in the third quarter of 2020, compared to the third quarter of 2019, as above average evaporation in Wendover during the summer of 2020 increased product availability. Retail fertilizer prices continue to be mostly lower in price from a year ago but there are a couple exceptions. Three fertilizers were up a significant amount, which DTN designates as 5% or more. Most recently, price have been closer to $400 per ton. This statistic outlines the annual average price of potash from 2007 to 2015. All rights reserved. World consumption of potash was estimated to have remained about the same as in 2018 at 43 million tons, owing to Potash prices reached lows of $300 per ton in 2016. World supply of ammonia, phosphoric acid and potash, 2015-2020 Most recently, price have been closer to $400 per ton. Intrepid uses average net realized sales price per ton as a key performance indicator to analyze potash and Trio® sales and price trends. Intrepid considers adjusted EBITDA to be useful, and believe it to be useful for investors, because the measure reflects Intrepid's operating performance before the effects of certain non-cash items and other items that Intrepid believes are not indicative of its core operations. Harvest soybean price is November 2020 CME Group futures price less $0.35 basis. DENVER, CO, Nov. 02, 2020 (GLOBE NEWSWIRE) -- Intrepid Potash, Inc. (Intrepid) (NYSE:IPI) today reported its results for the third quarter of 2020. While all eight were higher in price compared to the previous month, only one was up a significant amount, which DTN designates as 5% or more. Intrepid's mineral production comes from three solar solution potash facilities and one conventional underground Trio® mine. Alibaba.com offers 1,747 sulphate of potash price products. Cash used in investing activities was $3.4 million as we continued to reduced capital spending in response to the COVID-19 pandemic. "So we may temper our spreading for this spring.". We also sold fewer tons into the industrial market. ICL will supply an aggregate 410,000 metric tons of potash, with mutual options for an additional 30,000 metric tons, to be supplied through December 2020. Fertilizer for the next growing season is among the items many farmers buy. "DTN" and the degree symbol logo are trademarks of DTN. Intrepid’s ability to integrate the Intrepid South assets into its existing business and achieve the expected benefits of the acquisition; the costs of, and Intrepid's ability to successfully execute, any strategic projects; declines or changes in agricultural production or fertilizer application rates; declines in the use of potassium-related products or water by oil and gas companies in their drilling operations; Intrepid's ability to prevail in outstanding legal proceedings against it; Intrepid's ability to comply with the terms of its senior notes and its revolving credit facility, including the underlying covenants, to avoid a default under those agreements; further write-downs of the carrying value of assets, including inventories; circumstances that disrupt or limit production, including operational difficulties or variances, geological or geotechnical variances, equipment failures, environmental hazards, and other unexpected events or problems; adverse changes in economic conditions or credit markets; the impact of governmental regulations, including environmental and mining regulations, the enforcement of those regulations, and governmental policy changes; adverse weather events, including events affecting precipitation and evaporation rates at Intrepid's solar solution mines; increased labor costs or difficulties in hiring and retaining qualified employees and contractors, including workers with mining, mineral processing, or construction expertise; changes in the prices of raw materials, including chemicals, natural gas, and power; Intrepid's ability to obtain and maintain any necessary governmental permits or leases relating to current or future operations; interruptions in rail or truck transportation services, or fluctuations in the costs of these services; Intrepid's inability to fund necessary capital investments; the impact of the COVID-19 pandemic on Intrepid's business, operations, liquidity, financial condition, and results of operations; and, the other risks, uncertainties, and assumptions described in Intrepid's periodic filings with the. The remaining five fertilizers were all just slightly higher in price … Only briefly, in late 2017, did prices fall to $400 per ton. It is not possible for Intrepid to predict all risks that may cause actual results to differ materially from those contained in any forward-looking statements Intrepid may make. changes in the price, demand, or supply of Intrepid's products and services; Intrepid's ability to successfully identify and implement any opportunities to grow its business whether through expanded sales of water, Trio. All other trademarks are the properties of their respective owners. We expect to sell at these reduced prices until midway through the fourth quarter of 2020. Adjustments to reconcile net (loss) income to net cash provided by operating activities: Allowance for parts inventory obsolescence. Current retail fertilizer bids from 310 retailer locations weekly prices have already risen about $ to... 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