Strong Financial Performance
For the fourth quarter of 2024, the company reported net sales of $140 million, net income of $18 million, and EBITDA of $50 million. For the full year 2024, EBITDA was $179 million and distributions were $6.76 per common unit.
Record Ammonia Production
East Dubuque set new records in 2024 with an ammonia utilization rate of 102% and production volumes of approximately 399,000 tons.
Improved Safety Metrics
The company reported a 40% reduction in total recordable incident rate in 2024 compared to 2023.
Strong Demand and Favorable Market Conditions
Despite challenging weather conditions, there was strong demand for nitrogen fertilizer, with prices increasing compared to the third quarter. The market conditions look favorable for the spring planting season with higher grain prices.
Strategic Projects and Flexibility
Plans to implement a dual fuel project at the Coffeyville facility, allowing the flexibility to switch between natural gas and pet coke based on economic conditions, are underway.