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Sales Analysis IPI
In the year ending in Dec 31,23, Intrepid Potash Inc sales were sharply up 4.0% from $54.47 million last year to $56.66 million. We predict Intrepid Potash Inc sales to go up 2.5% to around $58.05 million during the next 12 months. The share price of Intrepid Potash Inc has a positive sensitivity to increases to sales with forecast sales alone increasing the share price by 0.1%.
Intrepid Potash Inc currently has 485 employees and with sales of $56.66 million this equates to sales of $116.83 thousand per employee.
Profitability
For Dec 31,23 Cost of goods sold was sharply down 2.6% from $53.97 million last year to $52.58 million. This cost represented 92.79% of overall sales down from 99.1% last year and is expected to fall to 88.73% next year. We predict Cost of goods sold to move down 2.0% to around $51.51 million during the next 12 months.
Selling General and Administrative expenses for this fiscal year were up 3.21% from the previous year, totaling $7.93 million and we expect SGA to move up 3.7% to around $8.23 million during the next 12 months.
This meant gross income was $4.09 million making a gross profit margin of 7.21% of sales, which we expect to be 8.26% next year. The share price of Intrepid Potash Inc has a positive sensitivity to increases to gross profit margin.
With 485 employees, the gross income is $8.42 thousand per employee.
Earnings
EBIT was -6.79% of sales and, since last year, has risen by -54.93%, from -$8.53 million to -$3.85 million this year and we expect EBIT to be -$883.11 thousand next year.
Pre-tax income was -83.95% of sales and have fallen big negative% from last year to -$47.57 million and we expect it to be -$8.52 million next year. Intrepid Potash Inc paid -$10.28 million tax. Its effective tax rate was 21.61% from 21.04% last year and estimated as 12.0% next year.
Including discontinued income, after tax income was -65.81% of sales and in this year, were down big negative% from -$7.2 million last year to -$37.29 million and we expect it to be -$6.91 million next year. Return on Equity was unchanged since last year at -inf, and we expect it to be -6.91 million next year.