Filing Flows › Intrepid Potash (IPI) › Q3 2026 › vs Q2 2026
Intrepid Potash (IPI) Q3 2026 vs Q2 2026 (quarter over quarter)
Intrepid Potash's revenue fell $15.7M (-23%) from $66.7M in Q2 2026 to $51.0M in Q3 2026. The biggest changes: Trio −$16.9M (-47%); Magnesium Chloride +$895K (+87%); Brine Water −$639K (-29%). Gross margin 19.7% against 25.0% (-5.3 pts).
Intrepid Potash, Q3 2026: revenue $51.0M (+0.4% year over year), operating margin 0.4%, net earnings $1.7M, operating cash flow −$4.6M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 19.7% | 25.0% | -5.3 pts |
| Operating margin | 0.4% | 1.6% | -1.2 pts |
| Net margin | 3.4% | 23.4% | -20.0 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Potash | $25.8M | $25.2M | $542K | +2% |
| Trio | $18.8M | $35.7M | −$16.9M | -47% |
| Salt | $2.3M | $2.2M | $90K | +4% |
| Magnesium Chloride | $1.9M | $1.0M | $895K | +87% |
| Brine Water | $1.6M | $2.2M | −$639K | -29% |
| Water | $682K | $332K | $350K | +105% |
| Revenue | $51.0M | $66.7M | −$15.7M | -23% |
| Gross profit | $10.0M | $16.6M | −$6.6M | -40% |
| Cost of revenue | $41.0M | $50.0M | −$9.0M | -18% |
| Other income, net | $1.5M | $14.6M | −$13.1M | -90% |
| Operating profit | $209K | $1.1M | −$854K | -80% |
| Operating expenses | $9.8M | $15.6M | −$5.8M | -37% |
| Pre-tax earnings | $1.7M | $15.6M | −$13.9M | -89% |
| SG&A | $9.7M | $10.0M | −$343K | -3% |
| Other operating costs | $153K | $5.6M | −$5.4M | -97% |
| Income tax benefit | $7K | −$57K | $64K | — |
| Net earnings | $1.7M | $15.6M | −$13.8M | -89% |
| Operating cash sources | $17.0M | −$8.0M | $25.0M | — |
| Depreciation & amortization | $9.1M | $9.3M | −$200K | -2% |
| Share-based compensation | $1.5M | $1.5M | $27K | +2% |
| Cash used in operations | $4.6M | −$34.4M | $39.0M | — |
| Working capital & other | $17.0M | −$8.0M | $25.0M | — |
Questions
How much did Intrepid Potash's revenue grow quarter over quarter in Q3 2026?
Intrepid Potash's revenue fell $15.7M (-23%) from $66.7M in Q2 2026 to $51.0M in Q3 2026.
What drove Intrepid Potash's revenue change in Q3 2026?
Trio −$16.9M (-47%); Magnesium Chloride +$895K (+87%); Brine Water −$639K (-29%).