Filing Flows › Intrepid Potash (IPI) › Q3 2026
Intrepid Potash (IPI) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 4, 2026
Intrepid Potash (IPI) reported revenue of $51.0M for the third quarter 2026 (Q3 2026), +0.4% from a year earlier and -23% from the quarter before. Operating margin was 0.4%, net earnings $1.7M (3.4% of revenue).
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 follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $51.0M | -23% | +0.4% |
| Gross profit | $10.0M | -40% | +0.9% |
| Operating profit | $209K | -80% | -57% |
| Net earnings | $1.7M | -89% | -54% |
| Operating cash flow | −$4.6M | -113% | — |
What changed
Revenue was $51.0M in Q3 2026, roughly flat year over year and down 23% from the previous quarter. Potash was the largest line at 50% of revenue. Trio added $895K year over year (up 5%), 394% of the total change. Salt declined 15%.
Gross margin was 19.7%, up 0.1 points from a year earlier. Operating profit was $209K, a 0.4% margin (down 0.5 points year over year). Operating profit fell $275K even though revenue rose $227K versus a year earlier, so costs grew faster than sales. Operating expenses grew 4% against flat revenue. Net earnings were $1.7M, down 54% year over year. The effective tax rate was -0.4%. Non-operating items added $1.5M, 88% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$4.6M. Non-cash charges added back $9.1M of depreciation and amortization and $1.5M of share-based compensation. Working capital and other items used $17.0M. Capital expenditures of $11.3M exceeded it, leaving free cash flow of −$15.9M.
Questions
What was Intrepid Potash's revenue in the third quarter 2026?
Intrepid Potash (IPI) reported revenue of $51.0M for the third quarter 2026 (Q3 2026), +0.4% from a year earlier and -23% from the quarter before.
Was Intrepid Potash profitable in the third quarter 2026?
Operating profit was $209K (0.4% of revenue) and net earnings $1.7M.
Source: Intrepid Potash 10-Q on SEC EDGAR.