Lsb Industries Sees 25% EBITDA Growth, $75M Capex and 110k-Ton Turnaround Plans
Lsb Industries reported full-year adjusted EBITDA of $162 million, a 25% increase; Q4 EBITDA of $54 million, up 42%, supported by nitric acid and ammonium nitrate production. Plans about $75 million of 2026 capex, two plant turnarounds cutting volumes by 110,000 tons, and a CO2 sequestration start by early 2027.
1. Earnings and Production Gains
LSB Industries recorded a 25% increase in full-year adjusted EBITDA to $162 million and a 42% jump in Q4 EBITDA to $54 million, driven by record nitric acid and ammonium nitrate production. Elevated pricing and an optimized product mix supported these gains amid tight domestic supply conditions.
2. Safety and Operational Excellence
The company achieved a record-low 0.40 reportable incident rate per 200,000 work hours in 2025, with three of four sites operating injury-free for the full year. Reliability improvements and operational discipline enabled record downstream output across key product lines.
3. 2026 Capex and Turnaround Plans
Management plans approximately $75 million of capital expenditures in 2026, including $55 million for environmental, health and safety upgrades and $20 million for logistics and storage enhancements for its ammonium nitrate business. Two major turnarounds at El Dorado and Pryor are expected to reduce ammonia and UAN output by roughly 110,000 tons.
4. CO2 Sequestration Roadmap
The El Dorado carbon capture and sequestration project is on track to begin CO2 injection by late 2026 or early 2027. This initiative forms part of a roadmap targeting up to $70 million of incremental annual EBITDA once the facility reaches full operational capacity.