Terra Nitrogen Company, L.P. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Year 2015
For the year, the company reported net sales of USD 648.3 million compared to USD 736.2 million a year ago. Net earnings were USD 370.0 million compared to USD 502.4 million a year ago. Net earnings per Common Unit were USD 12.07 compared to USD 15.77 a year ago. Net income allocable to Common Units was USD 223.3 million compared to USD 291.8 million a year ago. In 2014, capital expenditures were USD 67.1 million as compared to USD 99.6 million in 2013.
In 2015, the company is expected to have capital expenditures in the range of USD 60 million to USD 80 million for projects, including a turnaround of approximately 50% of the complex that commenced during the first quarter.