IPI, US46121Y2019

Morgan Stanley keeps Sell rating for Intrepid Potash stock

Published on 10/05/2026 at 05:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q2 2026 revenue fell to USD 66.69 million, while net profit rose to USD 15.58 million. Analysts set a USD 35.50 target for Intrepid Potash stock.

IPI, US46121Y2019, Illustration mit AI erstellt.

Intrepid Potash (US46121Y2019) drew a maintained Sell rating from Morgan Stanley on September 30, 2026, as the analyst consensus target stood at USD 35.50. Markets Insider reported that the June-quarter revenue was USD 66.69 million, compared with USD 71.47 million a year earlier, while net profit rose from USD 3.26 million to USD 15.58 million.

Profitability improved in Q2

The earnings mix was stronger than the revenue line. According to Quartr, second-quarter 2026 sales from continuing operations reached USD 66.7 million, while gross margin increased 35.00 percent to USD 16.6 million from USD 12.4 million.

Adjusted EBITDA from continuing operations rose to USD 17.5 million in the second quarter of 2026 from USD 13.8 million in the prior-year quarter. Net income from continuing operations was USD 2.4 million, or USD 0.18 per diluted share, while adjusted net income per diluted share reached USD 0.56 versus USD 0.30 a year earlier.

Guidance points to higher output

Quartr reported that Intrepid raised full-year 2026 production guidance to 290,000-300,000 potash tons and 295,000-305,000 Trio tons. For the third quarter of 2026, the company guided to potash sales of 55,000-65,000 tons at USD 380.00-390.00 per ton and Trio sales of 30,000-40,000 tons at USD 400.00-410.00 per ton.

The balance sheet provides a separate support point. Intrepid completed the South Ranch sale for USD 68.9 million and received USD 62.0 million in second-quarter cash proceeds, leaving USD 185.0 million in cash and cash equivalents at June 30, 2026, according to Quartr.

NYSE valuation remains below the target

Intrepid Potash was last at USD 32.76 on the NYSE on October 2, 2026 at 4:00 p.m. EDT. Its market capitalization was USD 440.1 million, and the 52-week range was USD 22.55-50.34, placing the latest quote below the USD 35.50 analyst consensus target and well below the yearly high.