olivLaw · US equity research
LSB Industries, Inc. LXU
Industrial Inorganic Chemicals · SIC 2810 · Vertical: Industrial Inorganic Chemicals (SIC 2810)
LSB Industries makes ammonia and derivatives such as ammonium nitrate, nitric acid and UAN for agricultural and mining customers in the United States. The company is investing in emissions cuts through a CO2 capture and sequestration project at its El Dorado plant, which could become operational in the first quarter of 2027. Net sales in the second quarter of 2026 were 168.1 million USD.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, LSB Industries, Inc. (LXU) stock was 10.64 USD (−3.97% on the day), with market capitalisation 766.1 m USD, P/E 17.1 on diluted EPS of 0.62 USD over the last 12 months, beta 0.70, 52-week range 8.32–16.88 USD. Latest reported quarter (Q3 2026): revenue of 158.6 m USD (+2.0% YoY), net income of 16.3 m USD (+129.8% YoY), diluted EPS 0.22 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 51.9
- neutral
- Bollinger (20, 2)
- 9.47 – 11.35
- in the upper half of the band · %B 0.62 · band width 18.1%
- SMA 50 / 200
- 10.56 / 11.81
- mixed trend
- MACD (12, 26, 9)
- 0.16 / 0.06
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +4.5% | −1.1% | +5.6 pp | — |
| 3 months | +9.8% | −0.5% | +10.3 pp | — |
| 6 months | −24.3% | +4.4% | −28.7 pp | — |
| Year to date | +25.2% | +12.3% | +12.9 pp | — |
| 1 year | +30.4% | +13.5% | +16.8 pp | +22.1% |
| 3 years | +16.5% | +76.4% | −59.9 pp | +17.9% |
| 5 years | +16.3% | +63.7% | −47.4 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 134.9 m | 143.4 m | 151.3 m | 155.4 m | 165.0 m | 169.5 m | 168.1 m | 158.6 m |
| Cost of revenue | 128.9 m | 129.0 m | 128.1 m | 129.9 m | 123.8 m | 133.7 m | 156.6 m | 115.5 m |
| Gross profit | 6.0 m | 14.4 m | 23.2 m | 25.5 m | 41.2 m | 35.8 m | 11.5 m | 43.1 m |
| SG&A | 9.9 m | 10.2 m | 9.8 m | 10.3 m | 11.2 m | 13.8 m | 12.9 m | 14.8 m |
| Operating income | -6.7 m | 4.5 m | 10.5 m | 15.6 m | 26.7 m | 23.2 m | -2.7 m | 26.8 m |
| Depreciation & amortisation | 22.0 m | 20.2 m | 20.6 m ≈ | 19.4 m ≈ | 21.8 m | 20.9 m | 21.9 m ≈ | 22.3 m ≈ |
| Interest expense | 8.2 m | 8.1 m | 7.9 m | 7.4 m | 7.3 m | 7.1 m | 7.1 m | 6.8 m |
| Pre-tax income | -13.2 m | -1.9 m | 4.1 m | 9.7 m | 20.7 m | 17.6 m | -8.1 m | 21.9 m |
| Income tax | -4.1 m | -283.0 k | 1.1 m | 2.5 m | 4.6 m | -2.1 m | -1.9 m | 5.5 m |
| Net income | -9.1 m | -1.6 m | 3.0 m | 7.1 m | 16.1 m | 19.7 m | -6.2 m | 16.3 m |
| Diluted EPS | -0.13 ≈ | -0.02 | 0.04 | 0.10 | 0.22 ≈ | 0.27 | -0.09 | 0.22 |
| Operating cash flow | 4.0 m | 6.8 m | 18.2 m ≈ | 52.6 m ≈ | 17.9 m | 51.8 m | 59.4 m ≈ | 20.5 m ≈ |
| Capex | 28.2 m | 20.9 m | 18.5 m ≈ | 17.0 m ≈ | 21.1 m | 17.0 m | 29.3 m ≈ | 18.1 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 60 percentile of its own 15-quarter history (min 2.6, median 8.1, max 216.9; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 378.2 m | 365.1 m | 351.3 m | 556.2 m | 901.7 m | 593.7 m | 522.4 m | 615.2 m |
| Revenue YoY | −11.5% | −3.5% | −3.8% | +58.3% | +62.1% | −34.2% | −12.0% | +17.8% |
| Net income | -72.2 m | -63.4 m | -61.9 m | 43.5 m | 230.3 m | 27.9 m | -19.4 m | 24.6 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | +429.0% | −87.9% | −169.3% | unavailable |
| Diluted EPS | unavailable | unavailable | -2.71 | -4.40 | 2.68 | 0.37 | -0.27 | 0.34 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | −86.2% | −173.0% | unavailable |
| net % | -19.1% | -17.4% | -17.6% | 7.8% | 25.5% | 4.7% | -3.7% | 4.0% |
| Free cash flow | -19.4 m | -34.0 m | -33.0 m | 52.5 m | 299.8 m | 69.9 m | -5.7 m | 18.1 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 19.5 m USD
- Financial debt
- 451.0 m USD
- Net debt
- 431.5 m USD
- Equity
- 520.0 m USD
- Total assets
- 1.2 bn USD
- Debt / equity
- 0.87x
- Current ratio
- 2.78x
- ROE
- 4.9%
- ROA
- 2.1%
- FCF margin
- 2.9%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 351.3 m | 556.2 m | 901.7 m | 593.7 m | 522.4 m | 615.2 m | SEC (XBRL)· 26 Feb 2026verified |
| Cost of revenue | 334.3 m | 417.3 m | 553.3 m | 507.4 m | 474.6 m | 510.9 m | SEC (XBRL)· 26 Feb 2026verified |
| Gross profit | 17.0 m | 139.0 m | 348.4 m | 86.3 m | 47.8 m | 104.3 m | SEC (XBRL)· 26 Feb 2026verified |
| SG&A | 32.1 m | 38.0 m | 39.4 m | 36.6 m | 41.8 m | 41.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Operating income | -15.5 m | 101.0 m | 308.4 m | 51.8 m | -5.5 m | 57.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Depreciation & amortisation | 69.6 m | 68.7 m | 66.9 m | 68.9 m | 74.5 m | 81.9 m | SEC (XBRL)· 26 Feb 2026verified |
| EBITDA | 54.0 m ≈ | 169.7 m ≈ | 375.3 m ≈ | 120.7 m ≈ | 69.0 m ≈ | 139.2 m ≈ | SEC (XBRL)· 26 Feb 2026derived |
| Interest expense | 51.1 m | 49.4 m | 46.8 m | 41.1 m | 34.5 m | 30.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Pre-tax income | -66.7 m | 39.0 m | 269.5 m | 33.9 m | -26.0 m | 32.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Income tax | -4.7 m | -4.6 m | 39.2 m | 6.0 m | -6.7 m | 7.9 m | SEC (XBRL)· 26 Feb 2026verified |
| Net income | -61.9 m | 43.5 m | 230.3 m | 27.9 m | -19.4 m | 24.6 m | SEC (XBRL)· 26 Feb 2026verified |
| Diluted EPS | -2.71 | -4.40 | 2.68 | 0.37 | -0.27 | 0.34 | SEC (XBRL)· 26 Feb 2026verified |
| Weighted average diluted shares | 36.7 m | 50.0 m | 86.0 m | 75.1 m | 72.0 m | 72.4 m | SEC (XBRL)· 26 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 16.3 m | 82.1 m | 63.8 m | 98.5 m | 20.2 m | 19.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Receivables | 42.6 m | 86.4 m | 74.8 m | 40.4 m | 38.8 m | 57.2 m | SEC (XBRL)· 26 Feb 2026verified |
| Inventories | 19.6 m | 16.6 m | 30.9 m | 28.1 m | 24.9 m | 18.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Current assets | 129.6 m | 243.1 m | 566.6 m | 436.7 m | 309.7 m | 293.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Property, plant & equipment, net | 891.2 m | 858.5 m | 848.7 m | 835.3 m | 847.6 m | 833.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Total assets | 1.1 bn | 1.1 bn | 1.4 bn | 1.3 bn | 1.2 bn | 1.2 bn | SEC (XBRL)· 26 Feb 2026verified |
| Accounts payable | 46.6 m | 49.5 m | 78.2 m | 68.3 m | 82.2 m | 64.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Short-term debt | 13.6 m | 12.7 m | 16.1 m | 13.4 m | 12.1 m | 10.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Long-term debt | 467.4 m | 518.2 m | 702.7 m | 575.9 m | 476.2 m | 440.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Current liabilities | 107.3 m | 104.9 m | 142.3 m | 118.5 m | 135.6 m | 105.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Equity | 149.6 m † | 460.5 m † | 515.9 m † | 518.3 m † | 491.6 m † | 520.0 m † | SEC (XBRL)· 26 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -2.5 m | 87.6 m | 345.7 m | 137.5 m | 86.6 m | 95.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Capex | 30.5 m | 35.1 m | 45.8 m | 67.6 m | 92.3 m | 77.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Free cash flow | -33.0 m ≈ | 52.5 m ≈ | 299.8 m ≈ | 69.9 m ≈ | -5.7 m ≈ | 18.1 m ≈ | SEC (XBRL)· 26 Feb 2026derived |
| Investing cash flow | -28.4 m | -34.7 m | -369.7 m | 57.4 m | -53.1 m | -42.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Financing cash flow | 24.4 m | 12.9 m | 5.7 m | -157.7 m | -114.3 m | -53.9 m | SEC (XBRL)· 26 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
Score: 52 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 766.1 m USD
Key indicators
Coverage and freshness
Score by group
- Quality90
- Growth0
- Valuation71
- Balance sheet25
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 3.54 – 31.66 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)10.20 – 21.48 (Mid 14.27)WACC 7.8% · starting FCFF 89.1 m USD · terminal value share of EV 77%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): -13.0%
- Peers: EV/EBITDA3.54 – 31.66 (Mid 17.26)4 companies used · median multiple 10.2x · quartiles 4.1x – 16.7xLIN, LXFR, TROX, VHI
- Peers: P/Eunavailable · not enough peers
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 52/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 6.9% | 86 (vs peers) | 12% |
| Net margin · Quality | 7.0% | 88 (vs peers) | 7% |
| FCF conversion · Quality | 139.5% | 100 (on a fixed band) | 7% |
| Revenue CAGR 3Y · Growth | -12.0% | 0 (on a fixed band) | 9% |
| EPS CAGR 3Y · Growth | -49.8% | 0 (on a fixed band) | 9% |
| Net debt / EBITDA · Balance sheet | 2.5x | 0 (vs peers) | 12% |
| Interest coverage · Balance sheet | 2.6x | 17 (on a fixed band) | 7% |
| Current ratio · Balance sheet | 3.0x | 100 (on a fixed band) | 5% |
| P/E (TTM) · Valuation | 17.1x | 59 (on a fixed band) | 12% |
| EV/EBITDA · Valuation | 7.3x | 60 (vs peers) | 12% |
| FCF yield · Valuation | 8.4% | 100 (on a fixed band) | 9% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet25/100 · 3/3 factors with a value
- Growth0/100 · 2/2 factors with a value
- Quality90/100 · 3/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation71/100 · 3/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
LSB Industries, Inc. (LXU). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 615.2 m USD in 2025; YoY growth 17.8%; net margin 7.0%; ROE 8.7%; net debt/EBITDA 2.5x.
The estimated value range is 6.87–26.57 USD per share (median of 2 methods, agreement: high); assumptions are illustrative. Against the central value of 15.76 USD, the price of 10.64 USD leaves a potential of 48.2% (value / price − 1) and a margin of safety of 32.5% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 52/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 6.9%
- Net margin: 7.0%
- FCF conversion: 139.5%
- Current ratio: 3.0x
- FCF yield: 8.4%
What contradicts it
- Revenue CAGR 3Y: -12.0%
- EPS CAGR 3Y: -49.8%
- Net debt / EBITDA: 2.5x
- Interest coverage: 2.6x
Not assessed (insufficient data or a ratio without meaning): Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Industrial Inorganic Chemicals (SIC 2810) · same industry (4-digit SIC) · compared with 9 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| LINLinde plc | 240.9 bn | 34.9 | 18.0% | 19.3% | +3.0% | +28% / +27% |
| APDAir Products And Chemicals, Inc. | 71.0 bn | — | -0.3% | -0.4% | −0.5% | +22% / +18% |
| MTXMinerals Technologies Inc. | 2.0 bn | — | -4.1% | -3.1% | −2.2% | +12% / +5% |
| KROKronos Worldwide, Inc. | 890.9 m | — | -13.7% | -5.6% | −1.5% | +53% / −11% |
| LXULSB Industries, Inc. | 766.1 m | 17.1 | 8.7% | 7.0% | +17.8% | +30% / +17% |
| TROXTronox Holdings PLC | 566.9 m | — | -39.1% | -18.0% | −5.7% | −14% / −72% |
| LXFRLuxfer Holdings PLC | 463.2 m | 76.3 | 2.7% | 1.7% | −1.9% | +38% / +110% |
| VHIValhi, Inc. | 430.8 m | — | -4.8% | -2.4% | −1.3% | +20% / +12% |
| NLNli Holdings, Inc. | 359.9 m | — | -6.7% | -15.8% | +8.5% | +30% / +44% |
| LTBRLightbridge Corporation | 172.9 m | — | -14.1% | — | unavailable | −73% / +39% |
1- and 3-year price returns: for LXU from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 5.84 Total return -45% · Per year -45% | 10.38 Total return -2% · Per year -2% | 15.70 Total return 48% · Per year 48% |
| 3 years | 4.64 Total return -56% · Per year -24% | 9.37 Total return -12% · Per year -4% | 15.70 Total return 48% · Per year 14% |
| 5 years | 3.68 Total return -65% · Per year -19% | 8.45 Total return -21% · Per year -4% | 15.70 Total return 48% · Per year 8% |
- Exit P/E± 2.34
- Net margin± 1.64
- Annual revenue growth± 1.48
- Annual dilution± 0.14
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 30 Jul 2026; since then the company filed 10-Q (29 Oct 2026), 8-K (28 Oct 2026 · results).
In brief
LSB Industries makes ammonia and derivatives such as ammonium nitrate, nitric acid and UAN for agricultural and mining customers in the United States. The company is investing in emissions cuts through a CO2 capture and sequestration project at its El Dorado plant, which could become operational in the first quarter of 2027 2. Net sales in the second quarter of 2026 were 168.1 million USD 3.
SWOT
Strengths
- The company has access to relatively cheap US natural gas and a network of strategically located plants with pipeline, rail and water access 1.
- A diversified customer base almost entirely in the United States, and contracts that pass through raw material costs, offer some protection 1.
- Operating the Baytown facility for a large partner and its technical experience in ammonia production are relevant assets 1.
Weaknesses
Opportunities
Risks
- Natural gas cost and availabilityhigh
Natural gas is the main raw material and its price is volatile. The company has suspended production in the past because of high costs or shortages 1.
- Reliance on a few plantshigh
Production depends on a limited number of facilities, and a disruption at any one could seriously affect deliveries and revenue 1.
- Carbon capture project riskmedium
The project depends on EPA approval, on the development of storage wells and on demand for low carbon ammonia, all hard to control 2.
- Age of facilitiesmedium
Older equipment can cause unplanned shutdowns, and replacing specialized parts can take a long time 1.
- Operational and environmental hazardsmedium
The business handles toxic and corrosive substances, with risks of explosions, leaks and transport incidents that could bring penalties and high costs 1.
Investment thesis
What would need to be true (bull case)
- If the 2026 maintenance work translates into higher production, second-half results could be stronger, according to management 3.
- Demand from mining and infrastructure remains solid, which could support ammonium nitrate volumes 3.
- The carbon capture project could generate significant annual tax credit earnings if it becomes operational on schedule 2.
What would break the thesis
- The net loss in the second quarter of 2026 shows that maintenance work can weigh heavily on results over a short period 3.
- Total debt is high relative to available liquidity, which could limit financial flexibility 3.
- Ammonia prices have eased, and new capacity could press prices further in the coming period 3.
What to watch
- EPA approval of the Class VI permit for the El Dorado project2026
- Completion of Pryor plant turnaround and return to full productionQ3 2026
- Quarterly results and guidance for the second half of 2026Q3 2026
- Start-up of the CO2 capture project and first tax credit cash receiptsQ1 2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 30 Jul 2026; since then the company filed 10-Q (29 Oct 2026), 8-K (28 Oct 2026 · results).
The business
LSB Industries, headquartered in Oklahoma City, produces chemicals for agricultural and industrial markets, using mainly natural gas as a raw material 1. The company operates three plants in Cherokee, El Dorado and Pryor, and a facility for Covestro in Baytown, Texas 1. Customers include distributors, farmers, fertilizer dealers and explosives makers in the United States, Canada and other parts of North America 1.
The strategy balances fertilizer sales at spot prices with longer industrial contracts that generally pass raw material costs through to customers 1. Management aims to raise margins through downstream production and plant reliability, and low carbon ammonia projects are a growth direction 1.
For 2026 the company is focusing on safety, reliability, productivity and product mix diversification 2. The stated aim is that these initiatives will produce more stable results, and existing liquidity is considered sufficient for operations 1.
Segments
AN and nitric acid
Ammonium nitrate and nitric acid made up the largest share of sales, at 39% of consolidated net sales in 2025 1. Demand from mining, quarrying and coal stayed firm, and nitric acid benefits from anti-dumping duties on MDI imports 1.
Market context
The nitrogen fertilizer market depends on grain demand, gas costs and imports 1. The company notes ammonia prices remain high relative to historical averages, although they have eased from first-half highs 3.
In industrial markets, demand for ammonium nitrate remains strong, supported by mining and infrastructure investment 3. USDA projections for corn plantings in the 2026/27 season support nitrogen fertilizer demand 3.
Trends
- Investment in carbon capturemixed
The CO2 capture and sequestration project at El Dorado could cut scope 1 emissions and produce low carbon ammonia that could sell at higher prices 2. Timing depends on EPA approval of the Class VI permit 2.
- Mining and infrastructure demandtailwind
Demand for ammonium nitrate explosives in mining, quarrying and infrastructure remains solid, supported by investment tied to AI and data centers 3. If this demand persists it could support industrial volumes.
- Gas and energy pricesmixed
Natural gas, the main raw material, is volatile and could rise with power generation demand and exports 1. Lower gas costs in the second quarter of 2026 supported margins 3.
- New US ammonia supplyheadwind
New US production capacity is expected around mid-2026 and could pressure prices in the near term 1. That pressure could be offset by solid fertilizer demand 3.
Competitive position
LSB Industries operates in a highly competitive market with rivals such as CF Industries, CVR Partners, Nutrien and Yara International 1. Many of these have greater financial resources than LSB 1.
Competition is based on service, price, plant and distribution locations, and product quality 1. LSB's advantages could include its location on the Gulf Coast ammonia pipeline and access to relatively cheap US natural gas compared with Europe 1.
- CF Industries Holdings, Inc.CF
large nitrogen and ammonia producer named as a direct rival in the source
- CVR PartnersUAN
nitrogen fertilizer producer named among LSB's competitors
- Nutrien
large fertilizer company named as a rival in the source
- Yara International
European fertilizer group named as both a competitor and sometimes a customer
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Quarterly report29 Oct 2026
- Current report29 Oct 2026Financial statements and exhibits
- Current report28 Oct 2026Results of operations · Financial statements and exhibits
- Current report09 Sept 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report30 Jul 2026
- Current report30 Jul 2026Regulation FD disclosure
- Current report29 Jul 2026Results of operations · Financial statements and exhibits
- Current report01 Jun 2026Other events
- Current report21 May 2026Other events
- Current report21 May 2026Shareholder vote
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / LSB Industries, Inc. · 26 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / LSB Industries, Inc. · 30 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / LSB Industries, Inc. · 29 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.