LSB Industries Announces Stock Repurchase Program Authorization of up to $50 Million
16 Mayo 2022 - 3:15PM
Business Wire
LSB Industries, Inc. (“LSB” or “the Company”) (NYSE: LXU) today
announced that its Board of Directors has authorized a stock
repurchase program. Under the repurchase program, LSB Industries
may repurchase up to $50 million of its outstanding common stock
through the duration of the authorization.
Mark Behrman, LSB Industries’ President and Chief Executive
Officer of LSB, commented, “This authorization reflects our
confidence in LSB’s outlook for 2022 and beyond. The addition of
the share repurchase program as another option to deploy capital
highlights the strength of our balance sheet. We remain committed
to driving shareholder value through continued operational
improvement, execution on our organic growth opportunities,
potential strategic acquisitions, and the repurchase of our common
stock.”
The repurchase program permits shares to be repurchased in the
open market or in private transactions and pursuant to any trading
plan that may be adopted in accordance with all applicable
securities laws and regulations, including Rule 10b5-1 of the
Securities Exchange Act of 1934.
Repurchases will be made at management’s discretion at prices
that management considers to be attractive and in the best
interests of both LSB Industries and its stockholders. The timing
and amount of shares repurchased will depend on a variety of
factors, including the availability of stock, general market
conditions, the trading price of the stock, alternative uses for
capital and LSB’s financial performance. Open market purchases will
be conducted in accordance with the limitations set forth in Rule
10b-18 of the Exchange Act and other applicable legal
requirements.
The repurchase program may be suspended, terminated or modified
at any time for any reason, including market conditions, the cost
of repurchasing shares, the availability of alternative investment
opportunities, liquidity, and other factors deemed appropriate. The
repurchase program does not obligate LSB Industries to purchase any
particular number of shares.
About LSB Industries, Inc.
LSB Industries, Inc., headquartered in Oklahoma City, Oklahoma,
manufactures and sells chemical products for the agricultural,
mining, and industrial markets. The Company owns and operates
facilities in Cherokee, Alabama, El Dorado, Arkansas and Pryor,
Oklahoma, and operates a facility for a global chemical company in
Baytown, Texas. LSB’s products are sold through distributors and
directly to end customers primarily throughout the United States.
Committed to improving the world by setting goals that will reduce
our environmental impact on the planet and improve the quality of
life for all of its people, the Company is well positioned to play
a key role in the reduction of global carbon emissions through its
planned carbon capture and sequestration, and zero carbon ammonia
strategies. Additional information about LSB can be found on its
website at www.lsbindustries.com.
Forward-Looking Statements
Statements in this release that are not historical are
forward-looking statements within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking
statements, which are subject to known and unknown risks,
uncertainties and assumptions about us, may include projections of
our future financial performance including the effects of the
COVID-19 pandemic and anticipated performance based on our growth
and other strategies and anticipated trends in our business. These
statements are only predictions based on our current expectations
and projections about future events. There are important factors
that could cause our actual results, level of activity, performance
or actual achievements to differ materially from the results, level
of activity, performance or anticipated achievements expressed or
implied by the forward-looking statements. Significant risks and
uncertainties may relate to, but are not limited to, business and
market disruptions related to the COVID-19 pandemic, market
conditions and price volatility for our products and feedstocks, as
well as global and regional economic downturns, including as a
result of the COVID-19 pandemic, that adversely affect the demand
for our end-use products; disruptions in production at our
manufacturing facilities; our ability to complete the preferred
stock exchange transaction on the terms disclosed or at all and
other financial, economic, competitive, environmental, political,
legal and regulatory factors. These and other risk factors are
discussed in the Company’s filings with the Securities and Exchange
Commission (SEC).
Moreover, we operate in a very competitive and rapidly changing
environment. New risks and uncertainties emerge from time to time,
and it is not possible for our management to predict all risks and
uncertainties, nor can management assess the impact of all factors
on our business or the extent to which any factor, or combination
of factors, may cause actual results to differ materially from
those contained in any forward-looking statements. Although we
believe the expectations reflected in the forward-looking
statements are reasonable, we cannot guarantee future results,
level of activity, performance or achievements. Neither we nor any
other person assumes responsibility for the accuracy or
completeness of any of these forward-looking statements. You should
not rely upon forward-looking statements as predictions of future
events. Unless otherwise required by applicable laws, we undertake
no obligation to update or revise any forward-looking statements,
whether because of new information or future developments.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220516006018/en/
Investor Contacts: Fred Buonocore, CFA, Vice President of
Investor Relations (405) 510-3550 fbuonocore@lsbindustries.com
Media Contact: David Kimmel, Director of Communications
(405) 815-4645 dkimmel@lsbindustries.com
LSB Industries (NYSE:LXU)
Gráfica de Acción Histórica
De Sep 2024 a Oct 2024
LSB Industries (NYSE:LXU)
Gráfica de Acción Histórica
De Oct 2023 a Oct 2024