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Terra Nitrogen Company L.P. Depositary R Reports Operating Results (10-Q)

November 06, 2012 | About:
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10qk

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Terra Nitrogen Company L.P. Depositary R (TNH) filed Quarterly Report for the period ended 2012-09-30.

Terra Nitrogen Company, L.p. has a market cap of $3.94 billion; its shares were traded at around $233.49 with a P/E ratio of 12.6 and P/S ratio of 4.9. The dividend yield of Terra Nitrogen Company, L.p. stocks is 7.9%. Terra Nitrogen Company, L.p. had an annual average earning growth of 62.3% over the past 10 years. GuruFocus rated Terra Nitrogen Company, L.p. the business predictability rank of 3-star.

Highlight of Business Operations:

Net earnings for the three months ended September 30, 2012 were $131.8 million on net sales of $181.1 million, compared with net earnings for the three months ended September 30, 2011 of $128.4 million on net sales of $203.3 million. Net earnings per common unit for the three months ended September 30, 2012 were $4.00 compared with $3.91 for the three months ended September 30, 2011.

Net earnings for the nine months ended September 30, 2012 were $410.8 million on net sales of $573.6 million, compared with net earnings for the nine months ended September 30, 2011 of $378.2 million on net sales of $597.9 million. Net earnings per common unit for the nine months ended September 30, 2012 were $12.45 compared with $11.46 for the nine months ended September 30, 2011.

Our net sales for the first nine months of 2012 were $573.6 million, a decrease of $24.3 million, or 4%, from the first nine months of 2011 net sales of $597.9 million. The decrease was due primarily to lower ammonia and UAN sales volume, partially offset by higher ammonia average selling prices.

Our net earnings were $410.8 million for the nine months ended September 30, 2012, an increase of $32.6 million, or 9%, as compared to $378.2 million for the nine months ended September 30, 2011. Net earnings increased primarily due to higher gross margin.

Net cash provided by operating activities was $424.6 million for the first nine months of 2012 compared to $376.2 million in 2011. The $48.4 million increase in cash provided by operating activities in 2012 was primarily due to a $32.6 million increase in net earnings and a decrease in the amount of cash invested in working capital during the period. Net earnings included noncash depreciation and amortization expense of $13.9 million and $17.4 million during the nine months ended September 30, 2012 and 2011, respectively, and a non-cash unrealized (gain) loss on derivatives of $(9.6) million and $4.4 million during the nine months ended September 30, 2012 and 2011, respectively.

Read the The complete Report

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