IPI

EX-99.1

2 ex991q12026pressrelease.htm

EX-99.1

Document

Intrepid Announces First Quarter 2026 Results

Denver, CO, May 6, 2026 - Intrepid Potash, Inc. ("Intrepid", "the Company", "we", "us", or "our") (NYSE:IPI) today reported its results for the first quarter of 2026.

First Quarter Highlights & Management Commentary

Supportive prices, resilient demand for potash and Trio®, and continued improvement in Trio® margins led to another quarter of strong financial results, highlighted by:

•Sales from continuing operations of $98.7 million;

•Net income from continuing operations of $6.9 million, or $0.52 per diluted share;

•Adjusted net income from continuing operations(1) of $8.2 million, or $0.62 per diluted share; and

•Adjusted EBITDA(1) of $19.0 million.

Kevin Crutchfield, Intrepid's Chief Executive Officer, commented: "We started 2026 with a great quarter and I want to thank our entire team for their commitment to safety and hard work. Our first quarter net income from continuing operations of $6.9 million and adjusted EBITDA of $19.0 million validates our focus on consistent execution across our core fertilizer business.

Combined potash and Trio® sales volumes were 211 thousand tons, our second highest quarterly sales total since idling the West mine in 2016. Trio® continues to be our strongest segment, as we posted the highest quarterly margin for the segment since 2022. Prices remained supportive in the spring and our investments in operational efficiency showed their worth as per-ton costs improved 5% compared to Q4.

Overall, potash market fundamentals remain constructive and the U.S. agriculture market has shown resiliency despite uncertainty from rising input costs. As we redouble our focus on core operations to serve these markets and to unlock the value of all the critical minerals we produce, the future is bright for Intrepid."

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Key Financial & Operational Metrics Summary

Three Months Ended March 31,

20262025

(in millions unless otherwise stated)

Sales from continuing operations$98.7 $94.5

Gross margin$17.7 $13.3

Net income from continuing operations$6.9 $3.4

Net income from continuing operations per diluted share$0.52 $0.26

Adjusted net income from continuing operations(1) $8.2 $3.9

Adjusted net income from continuing operations per diluted share(1) $0.62 $0.30

Adjusted EBITDA(1) $19.0 $14.6

Cash flow from continuing operations$21.3 $6.8

Potash sales volumes (in thousands and tons)105103

Average potash net realized sales price per ton(1) $353 $312

Trio® sales volumes (in thousands and tons) 106110

Average Trio® net realized sales price per ton(1) $387 $345

Project Updates

Sale of Intrepid South Ranch

•On April 1, 2026, we sold the majority of the assets of the Intrepid South Ranch to HydroSource Logistics LLC. As total consideration, Intrepid received a payment of $70 million, which includes an $8 million dollar deposit we received in December 2025. The sale of the South Ranch included approximately 21,793 acres of fee land; 27,858 acres associated with federal grazing leases; water rights located on the ranch; and various other assets, interests, and related agreements. The assets comprised the majority of the operations in our oilfield solutions segment, therefore oilfield solutions is no longer considered a reportable segment, and results from South Ranch operations prior to the sale are reported as discontinued operations.

Increased Production at East Underground Mine

•In early 2026, we commissioned a new continuous miner at our East Mine which has already improved operational efficiencies and increased Trio® production. Moreover, we also increased our operating hours per shift and continue to make operational improvements in our mill, both of which will also help drive higher production. We have realized the benefit of these improvements in Q1 through increased production of

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granular and premium products. For FY 2026, we expect to produce 285 to 300 thousand tons of Trio®.

Wendover Lithium Project

•Our partners continue to advance FEL-3 engineering and associated permitting. We look forward to providing further detail as it becomes available later in the year.

Capital Expenditures

•In the first quarter of 2026, our capital expenditures totaled $5.1 million. We expect our 2026 capital expenditures will be in the range of $40 to $50 million.

Liquidity

•As of March 31, 2026, our cash and cash equivalents totaled $99.3 million and we had no outstanding borrowings on our $150 million revolving credit facility that has been extended to mature in March 2031.

Segment Highlights

Potash

Three Months Ended March 31,

20262025

(in thousands, except per ton data)

Sales$46,119 $43,577

Gross margin$3,067 $2,503

Potash sales volumes (in tons)105 103

Potash production volumes (in tons)104 93

Average potash net realized sales price per ton(1) $353 $312

In the first quarter of 2026, our potash segment sales increased $2.5 million compared to the same prior year

ipi-202603040001421461false00014214612026-03-042026-03-04

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported):  March 4, 2026

Intrepid Potash, Inc. (Exact name of registrant as specified in its charter)

Delaware 001-34025 26-1501877 (State or other jurisdiction of incorporation) (Commission file number) (IRS employer identification no.)

707 17th Street, Suite 4200 Denver, Colorado  80202 (Address of principal executive offices, including zip code)

(303) 296-3006 (Registrant’s telephone number, including area code)

Not Applicable (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):

☐            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 210.14d-2(b)) ☐            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading symbol Name of each exchange on which registered Common Stock, par value $0.001 per share IPI New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item    2.02. Results of Operations and Financial Condition

On March 4, 2026, Intrepid Potash, Inc. issued a press release announcing its financial results and operating highlights for the fourth quarter and full year ended 2025. A copy of the press release is furnished as Exhibit 99.1 to this report.

The information furnished under this Item 2.02, including Exhibit 99.1, will not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 and will not be incorporated by reference into any filing under the Securities Act of 1933, except as expressly set forth by specific reference in that filing.

Item    9.01. Financial Statements and Exhibits

Exhibit No. Description

99.1 Press Release of Intrepid Potash, Inc. dated March 4, 2026

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

INTREPID POTASH, INC.

Dated: March 4, 2026By:/s/ Matthew D. Preston Matthew D. Preston Chief Financial Officer

ipi-202511050001421461false00014214612025-11-052025-11-05

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported):  11/5/2025

Intrepid Potash, Inc. (Exact name of registrant as specified in its charter)

Delaware 001-34025 26-1501877 (State or other jurisdiction of incorporation) (Commission file number) (IRS employer identification no.)

707 17th Street, Suite 4200 Denver, Colorado  80202 (Address of principal executive offices, including zip code)

(303) 296-3006 (Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):

☐            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 210.14d-2(b)) ☐            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading symbol Name of each exchange on which registered Common Stock, par value $0.001 per share IPI New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02       Results of Operations and Financial Condition

On November 5, 2025, Intrepid Potash, Inc. issued a press release announcing its financial results and operating highlights for the third quarter of 2025. A copy of the press release is furnished as Exhibit 99.1 to this report.

The information furnished under this Item 2.02, including Exhibit 99.1, will not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 and will not be incorporated by reference into any filing under the Securities Act of 1933, except as expressly set forth by specific reference in that filing.

Item 9.01       Financial Statements and Exhibits

(d) Exhibits

Exhibit No. Description

99.1 Press Release of Intrepid Potash, Inc. dated August 6, 2025. 104Cover Page Interactive Data File (embedded with the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

INTREPID POTASH, INC.

Dated: November 5, 2025By:/s/ Matthew D. Preston Matthew D. Preston Chief Financial Officer