Intrepid Potash Selected for $139M USDA Grant for SOP Project
Intrepid Potash, Inc. IPI announced that the U.S. Department of Agriculture (USDA) has selected its sulfate of potash (SOP) project for approximately $139 million in matching funding under the Fertilizer Investment & Expansion for Long-Term Domestic Supply program.
The proposed funding will support the construction of an SOP manufacturing facility near Carlsbad, NM. The facility is expected to have an annual production capacity of approximately 220,000 tons, based on current project plans. This would present a significant opportunity for Intrepid to diversify its fertilizer portfolio and strengthen its presence in the specialty fertilizer market. The addition of SOP would complement its existing Trio and potash fertilizer offerings, supporting long-term growth.
The project is currently in the advanced stages of planning, engineering and evaluation. However, construction remains subject to final engineering, completion of the award process and final investment decision, which is targeted for late 2027.
Intrepid emphasized its commitment to disciplined capital allocation and generating attractive long-term returns on invested capital as it evaluates the project. If approved and constructed, the facility could enhance the company's fertilizer production capabilities, broaden its product offerings and strengthen its long-term growth prospects.
IPI’s Price Performance
Shares of IPI have gained 15.1% over the past year compared with the 45.4% decline in its industry.
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IPI’s Zacks Rank & Key Picks
IPIcurrently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the Basic Materials space are Reliance, Inc. RS, Avino Silver & Gold Mines Ltd. ASM and Avient Corporation AVNT.
RS currently sports a Zacks Rank #1 (Strong Buy), while ASM and AVNT carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here
The Zacks Consensus Estimate for RS’ 2026 earnings is pegged at $23.70 per share, indicating a 66.2% year-over-year surge. RSshares have gained 50.6% over the past year.
The Zacks Consensus Estimate for ASM’s current fiscal-year earnings is pinned at 28 cents per share. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 75%.
The Zacks Consensus Estimate for AVNT’s 2026 earnings is pegged at $3.2 per share, indicating a year-over-year rise of 13.48%. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 3.4%.
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This article originally published on Zacks Investment Research (zacks.com).
