Market Newsdesk

Denver, CO, May 03, 2021 (GLOBE NEWSWIRE) — Intrepid Potash, Inc. (Intrepid) (NYSE:IPI) today reported its results for the first quarter of 2021.

Key Takeaways for Q1 2021

• Net income of $2.5 million, or $0.18 per share
• Gross margin of $9.1 million, up $3.5 million or 62%, compared to the first quarter of 2020.
• Cash flow from operations of $19.1 million
• Adjusted EBITDA⁽¹⁾ of $12.9 million
• Water sales of $5.5 million
• Produced water recycling initiative well under way

“First quarter results benefited from strong potash and Trio^® pricing and sales, leading to improvements in net income, gross margin and EBITDA compared to the prior year.” said Bob Jornayvaz, Intrepid’s Executive Chairman, President, and CEO. “Under application of fertilizer in prior years and strong commodity prices continue to support fertilizer demand across our markets and we expect robust cash flow from operations will continue in the second quarter. Above-average evaporation at our potash facilities during the summer of 2020 will extend our production season into the second quarter and will allow us to meet the continued strong demand for fertilizer.”

Jornayvaz continued, “We made substantial progress on our expansion into full-cycle water management during the quarter, increasing our recycling infrastructure and working to expand our current relationships with operators to include additional brine and recycled volumes. Oilfield activity continues to improve in the Delaware Basin with rig counts and permits steadily increasing throughout the first quarter which we expect will lead to improved oilfield segment results in future periods.”

Consolidated Results

We generated a first quarter 2021 net income of $2.5 million, or $0.18 per share and a gross margin of $9.1 million. Net income increased compared to the prior year as improved fertilizer pricing, strong demand in agricultural markets, and increased byproduct sales drove improvements in the bottom line.

Prior year first quarter net loss was impacted by the accrual of a $10 million settlement payment agreed upon at our March settlement hearing relating to the Mosaic litigation and partially offset by a gain of $4.7 million on the restricted sale of 320 acres of fee land at the Intrepid South property.

Segment Highlights

Potash

		Three Months Ended March 31,
		2021				2020
		(in thousands, except per ton data)
Sales		$	43,578			$	33,791
Gross margin		$	8,673			$	4,334
Potash sales volumes (in tons)		117				99
Potash production volumes (in tons)		113				137
Average potash net realized sales price per ton(1)		$	282			$	255

Sales in the first quarter of 2021 increased compared to the same period in 2020, due to an 18% increase in sales volume, an 11% increase in our average net realized sales price per ton and a $1.8 million increase in byproduct sales. Agricultural sales volumes benefited from good weather, strong commodity prices, and very strong early season demand for fertilizer.

Average net realized sales price per ton was higher due to price increases announced in the fourth quarter of 2020 and the first quarter of 2021. Magnesium chloride sales improved $1.3 million compared to the first quarter of 2020 as good evaporation during the summer of 2020 improved product availability compared to the prior year.

Potash production decreased 18% compared to the first quarter of 2020 due to lower brine grade at our HB facility and reduced run days at our Moab plant as we increased salt production to meet first quarter demand. Despite the decreased production in first quarter, we have sufficient inventory to meet the strong fertilizer demand in our markets and have significantly more inventory left to harvest in our solar evaporation ponds compared to the prior year. We expect to operate our potash facilities into the second quarter of 2021, compared to the prior year in which we ended our spring production in the mid-April.

Gross margin of $8.7 million in the first quarter of 2021 was a $4.3 million increase compared to the prior year first quarter due to the factors discussed above.

Trio


^®

		Three Months Ended March 31,
		2021					2020
		(in thousands, except per ton data)
Sales		$	23,694				$	22,581
Gross deficit		$	(70	)			$	(3,555	)
Trio® sales volume (in tons)		69					76
Trio® production volume (in tons)		56					50
Average Trio® net realized sales price per ton(1)		$	233				$	193

Sales increased 5% for the first quarter of 2021, as compared to the same period in 2020 due to a 21% increase in average net realized sales price per ton, partially offset by a 9% decrease in Trio^® tons sold. Sales volumes decreased as we continued to sell fewer tons into international markets as we focus on the higher priced domestic market.

Average net realized sales price per ton increased due to higher pricing announced during the fourth quarter of 2020 and the first quarter of 2021 and a decrease in international sales which generally have a lower net realized sales price per ton.

Production volume increased 12% in the first quarter of 2021, compared to the first quarter of 2020, as we converted more tons of work-in-process inventory to premium Trio^®.

Our Trio^® segment generated a negative gross margin of $0.1 million in the first quarter of 2021, compared to a negative gross margin of $3.6 million in the first quarter of 2020, due to the factors discussed above.

Oilfield Solutions

		Three Months Ended March 31,
		2021				2020
		(in thousands)
Sales		$	4,253			$	7,741
Gross margin		$	505			$	4,844

Sales decreased $3.5 million in the first quarter of 2021, compared to the same period in 2020, mainly due to a $3.3 million decrease in water sales. Our oilfield solutions water sales and sales of other oilfield products and services decreased as the COVID-19 pandemic reduced oilfield activity from year-ago levels.

Cost of goods sold increased 29%, or $0.9 million in the first quarter of 2021, compared to the prior year, primarily a result of increased third-party water purchases to meet the significant daily refresh rates for certain fracs on our South ranch. During the first quarter of 2021, we sold a majority of our water from water rights on our South ranch, while in the first quarter of 2020 we sold a majority of our water from our Pecos and Caprock water rights. Our water sales from the South ranch water rights generally carry a higher cost of goods sold as compared to sales from our Pecos and Caprock water rights.

Gross margin decreased $4.3 million compared to the prior year, due to the factors discussed above.

Liquidity

Cash provided by operations was $19.1 million during the first quarter of 2021. Cash used in investing activities was $2.3 million as we continued to carefully manage capital spending due to economic uncertainty caused by the COVID-19 pandemic.

As of March 31, 2021, we had $36.0 million in cash and cash equivalents and $35.0 million available to borrow under our revolving credit facility.

Notes

¹ Adjusted net income (loss), adjusted earnings before interest, taxes, depreciation, and amortization (or adjusted EBITDA) and average net realized sales price per ton are non-GAAP financial measures. See the non-GAAP reconciliations set forth later in this press release for additional information.

Unless expressly stated otherwise or the context otherwise requires, references to tons in this press release refer to short tons. One short ton equals 2,000 pounds. One metric tonne, which many international competitors use, equals 1,000 kilograms or 2,204.62 pounds.

Conference Call Information

A teleconference to discuss the quarter is scheduled for May 4, 2021, at 12:00 p.m. ET. The dial-in number is 1-800-319-4610 for U.S. and Canada, and is +1-631-891-4304 for other countries. The call will also be streamed on the Intrepid website, intrepidpotash.com.

An audio recording of the conference call will be available at intrepidpotash.com and by dialing 1-800-319-6413 for U.S. and Canada, or +1-631-883-6842 for other countries. The replay will require the input of the conference identification number 6792.

About Intrepid

Intrepid is a diversified mineral company that delivers potassium, magnesium, sulfur, salt, and water products essential for customer success in agriculture, animal feed, and the oil and gas industry. Intrepid is the only U.S. producer of muriate of potash, which is applied as an essential nutrient for healthy crop development, utilized in several industrial applications, and used as an ingredient in animal feed. In addition, Intrepid produces a specialty fertilizer, Trio^®, which delivers three key nutrients, potassium, magnesium, and sulfate, in a single particle. Intrepid also provides water, magnesium chloride, brine, and various oilfield products and services.

Intrepid serves diverse customers in markets where a logistical advantage exists and is a leader in the use of solar evaporation for potash production, resulting in lower cost and more environmentally friendly production. Intrepid’s mineral production comes from three solar solution potash facilities and one conventional underground Trio^® mine.

Intrepid routinely posts important information, including information about upcoming investor presentations and press releases, on its website under the Investor Relations tab. Investors and other interested parties are encouraged to enroll at intrepidpotash.com, to receive automatic email alerts for new postings.

Forward-looking Statements

This document contains forward-looking statements – that is, statements about future, not past, events. The forward-looking statements in this document relate to, among other things, statements about Intrepid’s future financial performance, cash flow from operations expectations, water sales, production costs, acquisition expectations and operating plans, its market outlook, and the impact of the COVID-19 pandemic on the company. These statements are based on assumptions that Intrepid believes are reasonable. Forward-looking statements by their nature address matters that are uncertain. The particular uncertainties that could cause Intrepid’s actual results to be materially different from its forward-looking statements include the following:

• changes in the price, demand, or supply of Intrepid’s products and services;
• challenges to Intrepid’s water rights;
• Intrepid’s ability to successfully identify and implement any opportunities to grow its business whether through expanded sales of water, Trio^®, byproducts, and other non-potassium related products or other revenue diversification activities;
• Intrepid’s ability to integrate the Intrepid South assets into its existing business and achieve the expected benefits of the acquisition;
• Intrepid’s ability to sell Trio^® internationally and manage risks associated with international sales, including pricing pressure and freight costs;
• the costs of, and Intrepid’s ability to successfully execute, any strategic projects;
• declines or changes in agricultural production or fertilizer application rates;
• declines in the use of potassium-related products or water by oil and gas companies in their drilling operations;
• Intrepid’s ability to prevail in outstanding legal proceedings against it;
• Intrepid’s ability to comply with the terms of its senior notes and its revolving credit facility, including the underlying covenants, to avoid a default under those agreements;
• further write-downs of the carrying value of assets, including inventories;
• circumstances that disrupt or limit production, including operational difficulties or variances, geological or geotechnical variances, equipment failures, environmental hazards, and other unexpected events or problems;
• changes in reserve estimates;
• currency fluctuations;
• adverse changes in economic conditions or credit markets;
• the impact of governmental regulations, including environmental and mining regulations, the enforcement of those regulations, and governmental policy changes;
• adverse weather events, including events affecting precipitation and evaporation rates at Intrepid’s solar solution mines;
• increased labor costs or difficulties in hiring and retaining qualified employees and contractors, including workers with mining, mineral processing, or construction expertise;
• changes in the prices of raw materials, including chemicals, natural gas, and power;
• Intrepid’s ability to obtain and maintain any necessary governmental permits or leases relating to current or future operations;
• interruptions in rail or truck transportation services, or fluctuations in the costs of these services;
• Intrepid’s inability to fund necessary capital investments;
• the impact of the COVID-19 pandemic on Intrepid’s business, operations, liquidity, financial condition, and results of operations; and
• the other risks, uncertainties, and assumptions described in Intrepid’s periodic filings with the Securities and Exchange Commission, including in “Risk Factors” in Intrepid’s Annual Report on Form 10-K for the year ended December 31, 2020, as updated by subsequent Quarterly Reports on Form 10-Q.

In addition, new risks emerge from time to time. It is not possible for Intrepid to predict all risks that may cause actual results to differ materially from those contained in any forward-looking statements Intrepid may make.

All information in this document speaks as of the date of this release. New information or events after that date may cause our forward-looking statements in this document to change. We undertake no duty to update or revise publicly any forward-looking statements to conform the statements to actual results or to reflect new information or future events.

Contact:

Matt Preston, Vice President – Finance
Phone: 303-996-3048
Email: [email protected]

INTREPID POTASH, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

FOR THE THREE MONTHS ENDED MARCH 31, 2021 AND 2020

(In thousands, except per share amounts)

		Three Months Ended March 31,
		2021					2020
Sales		$	71,463				$	63,984
Less:
Freight costs		12,078					11,860
Warehousing and handling costs		2,632					2,904
Cost of goods sold		47,645					43,047
Lower of cost or net realizable value inventory adjustments		—					550
Gross Margin		9,108					5,623
Selling and administrative		5,791					6,599
Accretion of asset retirement obligation		441					435
Litigation settlement		—					10,075
Loss (gain) on sale of assets		2					(4,696		)
Other operating expense (income)		6					(11		)
Operating Income (Loss)		2,868					(6,779		)
Other Income (Expense)
Interest expense, net		(426		)			(792		)
Interest income		—					116
Other income		9					16
Income (Loss) Before Income Taxes		2,451					(7,439		)
Income Tax Benefit		—					42
Net Income (Loss)		$	2,451				$	(7,397	)
Weighted Average Shares Outstanding:
Basic		13,054					12,957
Diluted		13,297					12,957
Earnings Per Share:
Basic		$	0.19				$	(0.57	)
Diluted		$	0.18				$	(0.57	)

INTREPID POTASH, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

AS OF MARCH 31, 2021 AND DECEMBER 31, 2020

(In thousands, except share and per share amounts)

		March 31,					December 31,
		2021					2020
ASSETS
Cash and cash equivalents		$	35,995				$	19,515
Accounts receivable:
Trade, net		36,898					22,795
Other receivables, net		2,298					1,577
Inventory, net		78,919					88,673
Prepaid expenses and other current assets		2,906					3,228
Total current assets		157,016					135,788
Property, plant, equipment, and mineral properties, net		348,945					355,497
Water rights		19,184					19,184
Long-term parts inventory, net		29,359					28,900
Other assets, net		10,676					10,819
Total Assets		$	565,180				$	550,188
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable		$	13,648				$	7,278
Accrued liabilities		13,080					12,701
Accrued employee compensation and benefits		5,928					4,422
Current portion of long-term debt, net		10,000					10,000
Other current liabilities		36,264					32,816
Total current liabilities		78,920					67,217
Advances on credit facility		29,817					29,817
Long-term debt, net		14,912					14,926
Asset retirement obligation		24,313					23,872
Operating lease liabilities		1,851					2,136
Other non-current liabilities		928					961
Total Liabilities		150,741					138,929
Commitments and Contingencies
Common stock, $0.001 par value; 40,000,000 shares authorized;
13,065,654 and 13,049,820 shares outstanding
at March 31, 2021, and December 31, 2020, respectively		13					13
Additional paid-in capital		657,566					656,837
Accumulated deficit		(243,140		)			(245,591		)
Total Stockholders’ Equity		414,439					411,259
Total Liabilities and Stockholders’ Equity		$	565,180				$	550,188

INTREPID POTASH, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

FOR THE THREE MONTHS ENDED MARCH 31, 2021 AND 2020

(In thousands)

		Three Months Ended March 31,
		2021					2020
Cash Flows from Operating Activities:
Net income (loss)		$	2,451				$	(7,397	)
Adjustments to reconcile net income to net cash provided by operating activities:
Allowance for doubtful accounts		—					275
Depreciation, depletion and amortization		9,481					9,586
Accretion of asset retirement obligation		441					435
Amortization of deferred financing costs		68					86
Amortization of intangible assets		80					80
Stock-based compensation		890					1,032
Accrual for litigation settlement		—					10,075
Lower of cost or net realizable value inventory adjustments		—					550
Loss (gain) on disposal of assets		2					(4,696		)
Changes in operating assets and liabilities:
Trade accounts receivable, net		(14,103		)			(8,388		)
Other receivables, net		(720		)			(308		)
Inventory, net		9,293					4,976
Prepaid expenses and other current assets		358					857
Accounts payable, accrued liabilities, and accrued employee compensation and benefits		7,978					8,119
Operating lease liabilities		(525		)			(552		)
Other liabilities		3,415					41
Net cash provided by operating activities		19,109					14,771
Cash Flows from Investing Activities:
Additions to property, plant, equipment, mineral properties and other assets		(2,360		)			(5,710		)
Proceeds from sale of assets		47					4,786
Net cash used in investing activities		(2,313		)			(924		)
Cash Flows from Financing Activities:
Debt prepayment costs		(2		)			—
Repayments of long-term debt		(22		)			—
Payments of financing lease		(107		)			—
Proceeds from short-term borrowings on credit facility		—					10,000
Employee tax withholding paid for restricted stock upon vesting		(204		)			(49		)
Proceeds from exercise of stock options		43					—
Net cash (used in) provided by financing activities		(292		)			9,951
Net Change in Cash, Cash Equivalents and Restricted Cash		16,504					23,798
Cash, Cash Equivalents and Restricted Cash, beginning of period		20,184					21,239
Cash, Cash Equivalents and Restricted Cash, end of period		$	36,688				$	45,037

To supplement Intrepid’s consolidated financial statements, which are prepared and presented in accordance with GAAP, Intrepid uses several non-GAAP financial measures to monitor and evaluate its performance. These non-GAAP financial measures include adjusted net income (loss), adjusted net income (loss) per diluted share, adjusted EBITDA, and average net realized sales price per ton. These non-GAAP financial measures should not be considered in isolation, or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. In addition, because the presentation of these non-GAAP financial measures varies among companies, these non-GAAP financial measures may not be comparable to similarly titled measures used by other companies.

Intrepid believes these non-GAAP financial measures provide useful information to investors for analysis of its business. Intrepid uses these non-GAAP financial measures as one of its tools in comparing period-over-period performance on a consistent basis and when planning, forecasting, and analyzing future periods. Intrepid believes these non-GAAP financial measures are used by professional research analysts and others in the valuation, comparison, and investment recommendations of companies in the potash mining industry. Many investors use the published research reports of these professional research analysts and others in making investment decisions.

Adjusted Net I
ncome (Loss) and Adjusted Net Income (Loss) Per Diluted Share

Adjusted net income (loss) and adjusted net income (loss) per diluted share are calculated as net income (loss) or income (loss) per diluted share adjusted for certain items that impact the comparability of results from period to period, as set forth in the reconciliation below. Intrepid considers these non-GAAP financial measures to be useful because they allow for period-to-period comparisons of its operating results excluding items that Intrepid believes are not indicative of its fundamental ongoing operations.

Reconciliation of Net Income (Loss) to Adjusted Net Income (Loss):

	Three Months Ended March 31,
	2021				2020
	(in thousands)
Net Income (Loss)	$	2,451			$	(7,397	)
Adjustments
Litigation Settlement	—				10,075
Gain on land sale	—				(4,696		)
Total adjustments	—				5,379
Adjusted Net Income (Loss)	$	2,451			$	(2,018	)

Reconciliation of Net Income (Loss)
per Share to Adjusted Net Income (Loss) per Share:

	Three Months Ended March 31,
	2021				2020
Net Income (Loss) Per Diluted Share	$	0.18			$	(0.57	)
Adjustments
Litigation settlement	—				0.78
Gain on land sale	—				(0.36		)
Total adjustments	—				0.42
Adjusted Net Income (Loss) Per Diluted Share	$	0.18			$	(0.15	)

Adjusted EBITDA

Adjusted earnings before interest, taxes, depreciation, and amortization (or adjusted EBITDA) is calculated as net income (loss) adjusted for certain items that impact the comparability of results from period to period, as set forth in the reconciliation below. Intrepid considers adjusted EBITDA to be useful, and believe it to be useful for investors, because the measure reflects Intrepid’s operating performance before the effects of certain non-cash items and other items that Intrepid believes are not indicative of its core operations. Intrepid uses adjusted EBITDA to assess operating performance.
        

Reconciliation of Net Income (Loss) to Adjusted EBITDA:

		Three Months Ended March 31,
		2021				2020
		(in thousands)
Net Income (Loss)		$	2,451			$	(7,397	)
Litigation settlement		—				10,075
Gain on land sale		—				(4,696		)
Interest expense		426				792
Income tax benefit		—				(42		)
Depreciation, depletion, and amortization		9,481				9,586
Amortization of intangible assets		80				80
Accretion of asset retirement obligation		441				435
Total adjustments		10,428				16,230
Adjusted EBITDA		$	12,879			$	8,833

Average Potash and Trio

^®

Net Realized Sales Price per Ton

Average net realized sales price per ton for potash is calculated as potash segment sales less potash segment byproduct sales and potash freight costs and then dividing that difference by the number of tons of potash sold in the period. Likewise, average net realized sales price per ton for Trio^® is calculated as Trio^® segment sales less Trio^® segment byproduct sales and Trio^® freight costs and then dividing that difference by Trio^® tons sold. Intrepid considers average net realized sales price per ton to be useful, and believe it to be useful for investors, because it shows Intrepid’s potash and Trio^® average per ton pricing without the effect of certain transportation and delivery costs. When Intrepid arranges transportation and delivery for a customer, it includes in revenue and in freight costs the costs associated with transportation and delivery. However, some of Intrepid’s customers arrange for and pay their own transportation and delivery costs, in which case these costs are not included in Intrepid’s revenue and freight costs. Intrepid uses average net realized sales price per ton as a key performance indicator to analyze potash and Trio^® sales and price trends.

Reconciliation of Sales to A
verage Net Realized Sales Price per Ton:

		Three Months Ended March 31,
		2021								2020
(in thousands, except per ton amounts)		Potash				Trio ®				Potash				Trio ®
Total Segment Sales		$	43,578			$	23,694			$	33,791			$	22,581
Less: Segment byproduct sales		5,784				1,180				3,973				1,380
Freight costs		4,809				6,440				4,540				6,534
Subtotal		$	32,985			$	16,074			$	25,278			$	14,667
Divided by:
Tons sold		117				69				99				76
Average net realized sales price per ton		$	282			$	233			$	255			$	193

		Three Months Ended March 31, 2021
Product		Potash Segment				Trio ® Segment				Oilfield Solutions Segment				Intersegment Eliminations					Total
Potash		$	37,794			$	—			$	—			$	(62	)			$	37,732
Trio®		—				22,514				—				—					22,514
Water		1,159				984				3,343				—					5,486
Salt		2,039				196				—				—					2,235
Magnesium Chloride		2,028				—				—				—					2,028
Brine Water		558				—				205				—					763
Other		—				—				705				—					705
Total Revenue		$	43,578			$	23,694			$	4,253			$	(62	)			$	71,463

		Three Months Ended March 31, 2020
Product		Potash Segment				Trio ® Segment				Oilfield Solutions Segment				Intersegment Eliminations					Total
Potash		$	29,818			$	—			$	—			$	(129	)			$	29,689
Trio®		—				21,201				—				—					21,201
Water		583				1,247				6,661				—					8,491
Salt		2,096				133				—				—					2,229
Magnesium Chloride		759				—				—				—					759
Brine Water		535				—				31				—					566
Other		—				—				1,049				—					1,049
Total Revenue		$	33,791			$	22,581			$	7,741			$	(129	)			$	63,984

Three Months Ended March 31, 2021		Potash				Trio ®					Oilfield Solutions				Other					Consolidated
Sales		$	43,578			$	23,694				$	4,253			$	(62	)			$	71,463
Less: Freight costs		5,700				6,440					—				(62		)			12,078
Warehousing and handling costs		1,456				1,176					—				—					2,632
Cost of goods sold		27,749				16,148					3,748				—					47,645
Gross Margin (Deficit)		$	8,673			$	(70	)			$	505			$	—				$	9,108
Depreciation, depletion, and amortization incurred1		$	7,178			$	1,507				$	688			$	188				$	9,561
Three Months Ended March 31, 2020		Potash				Trio ®					Oilfield Solutions				Other					Consolidated
Sales		$	33,791			$	22,581				$	7,741			$	(129	)			$	63,984
Less: Freight costs		5,441				6,548					—				(129		)			11,860
Warehousing and handling costs		1,296				1,608					—				—					2,904
Cost of goods sold		22,720				17,430					2,897				—					43,047
Lower of cost or net realizable value inventory adjustments		—				550					—				—					550
Gross Margin (Deficit)		$	4,334			$	(3,555	)			$	4,844			$	—				$	5,623
Depreciation, depletion, and amortization incurred1		$	7,312			$	1,508				$	632			$	214				$	9,666

(1) Depreciation, depletion, and amortization incurred for potash and Trio^® excludes depreciation, depletion, and amortization amounts absorbed in or relieved from inventory.

OXNARD, Calif., May 03, 2021 (GLOBE NEWSWIRE) — Avocado consumption insights from Mission Produce, Inc. (NASDAQ:AVO) (“Mission” or the “Company”), the world leader in sourcing, producing, and distributing fresh Hass avocados, shows that 100 million Americans are expected to celebrate Cinco de Mayo this year.₁ Additionally, up to 70 million pounds of avocados are expected to be consumed.₂ A long-awaited opportunity for wholesale, retail, and food service, the data show that consumers are looking to celebrate the avocado holiday both at home and out at restaurants and bars.

Compared to last year, twice the number of people who celebrate Cinco de Mayo are expected to celebrate at a bar or restaurant this year₁, while two-thirds of Cinco de Mayo celebrators report that they plan to celebrate at home, either with family or by attending a small gathering.₁

“As vaccinations ramp up in the United States, people are eager to return to pre-COVID activities, like gatherings and in-person dining. Cinco de Mayo could be the first holiday of normalcy for many and we’re ready to supply the World’s Finest Avocados to add to the celebrations,” said Steve Barnard, Founder and Chief Executive Officer of Mission Produce. “With our advanced distribution network and avocado-specific ripening infrastructure, we’re able to service most locations across North America within 24-hours, positioning us well to satisfy the anticipated uptick in demand.”

Mission’s consumption data showed an anticipated 30% lift in retail avocado sales for Cinco de Mayo₃, with 25% of households planning to purchase avocados in the two weeks leading up to the holiday.₄ Additionally, 40% of celebrators report that they will purchase food and alcohol from a store, while 31% plan to order delivery or takeout.₅

“As leaders in avocado intelligence, our insights provide valuable information for our customers to get ahead of consumer trends and know how to position their offerings for the highest return,” said Mission Senior Director of Marketing and Communications, Denise Junqueiro. “For Cinco de Mayo, we know consumers consider tacos, margaritas, and guacamole staple items – all of which contain, or go well with, avocados. We’re excited for our avocados to contribute to what could be the most normal festivities in a long time for many.”

Mission also uses Avocado Intel, its in-house, data-driven intelligence capabilities to adjust its programming for the benefit of its customers and provide first-class category management support. The data Mission gathers on the avocado category is cutting-edge, specific, and custom to the target demographic of each of Mission’s customers to help them be more profitable, attract more shoppers, and reduce shrink.

End Notes

1. Projected using data from a Cinco Intentions survey, 4/13/2021 (n=1,000)
2. According to the Hass Avocado Board, reported volume for the week of April 18, 2021, was 69,888,967 pounds of avocados
3. As reported by RI Total US-MULO Cinco sales 2015-2020
4. According to a Pandemic Behaviors survey, 4/15/2021 (n=1,000)
5. According to a Numerator 2021 Q2 Holiday Survey, 4/19/2021 (n=3,964)

About Mission Produce, Inc.:

Mission Produce is the world’s most advanced avocado network. For more than 35 years, Mission Produce has been recognized as the leader in the worldwide avocado business, sourcing, producing and distributing fresh avocados, servicing retail, wholesale and foodservice customers in over 25 countries. The vertically integrated Company owns and operates four state-of-the-art avocado packing facilities in key growing locations globally including California, Mexico & Peru and has additional sourcing capabilities in Chile, Colombia, Dominican Republic, Guatemala, New Zealand, & South Africa. Mission’s global distribution network includes eleven forward distribution centers in North America, China & Europe that offer value-added services such as ripening, bagging, custom packing and logistical management. In addition, Mission owns over 11,000 acres globally, allowing for diversified sourcing and access to complementary growing seasons, while ensuring its customers receive the highest quality fruit possible. Mission is the largest global supplier of the World’s Finest Avocados, for more information please visit www.missionproduce.com.

Contact

Denise Junqueiro
Senior Director of Marketing and Communications
Mission Produce, Inc.
[email protected]

Supplemental Materials

Headshots:

Steve Barnard



Denise Junqueiro

Avocados:

Mission Logo



Mission Avocados on Counter



Mission Avocados in Bowl



Mission Avocados Lineup

SANTA BARBARA, Calif., May 03, 2021 (GLOBE NEWSWIRE) — AppFolio, Inc. (NASDAQ: APPF), today announced that it will report its first quarter 2021 financial results after the close of the U.S. financial markets on Monday, May 10, 2021.

In conjunction with this report, AppFolio will host a conference call on Monday, May 10, 2021, at 4:30 p.m. Eastern Time (ET) to discuss the company’s first quarter 2021 financial results. Participants who wish to dial into the conference call, please register in advance at http://www.directeventreg.com/registration/event/6585354. After registering, a confirmation email will be sent, including dial-in details and a unique code for entry. Registration will be open through the start of the live call.

Following the conference call, a replay will be available at (800) 585-8367 (domestic) or (416) 621-4642 (international). The replay passcode is 6585354. An archived webcast of this conference call will also be available on AppFolio’s Investor Relations website athttp://ir.appfolioinc.com.

About AppFolio, Inc.

AppFolio provides innovative software, services and data analytics to the real estate industry. Our industry-specific, cloud-based business management solutions are designed to enable our customers to digitally transform their businesses, address critical business operations and enable exceptional customer service. Today our core solutions include AppFolio Property Manager, AppFolio Property Manager PLUS, and AppFolio Investment Management. In addition, we offer a variety of Value+ services that are designed to enhance, automate and streamline essential processes and workflows for our customers. AppFolio was founded in 2006 and is headquartered in Santa Barbara, CA. Learn more at www.appfolioinc.com.

Investor Relations Contact:

Erica Abrams, 805.364.6093
[email protected]

VANCOUVER, British Columbia, May 03, 2021 (GLOBE NEWSWIRE) — Today, Rogers announced that it is expanding its 5G wireless network in B.C., in partnership with the B.C. Government, to provide reliable connectivity along Highways 95 and 97 for the British Columbians, workers, and travellers that rely on these critical corridors, connecting communities in Okanagan, Vernon-Kamloops-Cache Creek, and the Cariboo regions, as well as southeastern British Columbia.

The ability to make a call from a highway if your car breaks down or to use GPS for directions is incredibly important. These initiatives are part of Rogers’ ongoing commitment to expand service and improve connectivity for underserved rural, remote and Indigenous communities in the West, and across Canada.

“Rogers is proud to continue investing in British Columbia on these highway connectivity projects to build critically needed 5G networks to bridge the digital divide, in partnership with the B.C. Government,” said Dean Prevost, President, Connected Home and Rogers for Business. “Connecting Canadians, including rural, remote, and Indigenous communities is a top priority for Rogers, and through this partnership, we are providing improved safety and reliable connectivity for those who depend on Highways 95 and 97, while creating new jobs and supporting B.C.’s economy.”

Rogers will provide more than 90kms of new coverage, from Golden to Spillimacheen along Highway 95, and from Pine Pass to Chetwynd along Highway 97. These expansions are made possible by leveraging financial support from the provincially funded Connecting British Columbia program, administered by Northern Development Initiative Trust. Together, Rogers and the B.C. government are bridging the digital divide to enhance safety, and connectivity in the region.

Rogers continues to make network and innovation investments throughout British Columbia, including recent expansion announcements for Highway 16 and Highway 14, new network sites in West Kelowna and Osoyoos, and upgraded towers across Okanagan, Cariboo, Central and Northern B.C., and on Vancouver Island. Rogers also recently announced a collaboration with the Métis Nation British Columbia, and a new innovative solution in collaboration with Indro Robotics, a B.C. drone company. In 2020, Rogers collaborated with the Cowichan Valley school board to put iPads in the hands of B.C. students and families during the COVID-19 pandemic, in addition to partnering with other Indigenous communities in B.C., such as Nisg̱a’a Nation, and Witsuwit’en Village (Witset First Nation).

Rogers has also provided critical support and an essential digital lifeline for many vulnerable British Columbians during the COVID-19 pandemic, by providing devices with free voice and data to local organizations like the Okanagan Nation Transition Emergency House, the Penticton Pflag chapter, and most recently, donating thousands of phones and plans to 325 women’s shelters and transition houses in communities across Canada.

Rogers is excited about its future plans in Western Canada, and the proposed agreement to combine Rogers and Shaw, which will enable a $6.5 billion investment to build critically needed 5G networks, connect underserved rural and Indigenous communities, and bring added choice to customers and businesses. When the transaction between Rogers and Shaw is complete, it will create up to 3,000 net new jobs in the West, including more than 1,000 in British Columbia.

About Rogers

Rogers is a proud Canadian company dedicated to making more possible for Canadians each and every day. Our founder, Ted Rogers, purchased his first radio station, CHFI, in 1960. We have grown to become a leading technology and media company that strives to provide the very best in wireless, residential, and media to Canadians and Canadian businesses. Our shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). If you want to find out more about us, visit about.rogers.com

For further information: [email protected], 1-844-226-1338

MILPITAS, Calif., May 03, 2021 (GLOBE NEWSWIRE) — View, Inc. (“View”), a Silicon Valley-based smart window company, today announced the company’s first quarter 2021 financial results will be released after the market close on Wednesday, May 12, 2021.

View, Inc. will host a conference call to discuss its results at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time the same day. The live webcast of the call can be accessed at the View, Inc. Investor Relations website at https://investors.view.com, along with the company’s earnings press release.

The U.S. dial-in for the call is 1-877-524-8416 (1-412-902-1028 for non-U.S. callers). Please ask to join the View, Inc. call. A replay of the conference call will be available until May 19, 2021, at 8:59 p.m. Pacific Time / 11:59 p.m. Eastern Time, while an archived version of the webcast will be available on the View, Inc. Investor Relations website for 90 days. The U.S. dial-in for the conference call replay is 1-877-660-6853 (1-201-612-7415). The replay access code is 13719178.

About View

View is a technology company and the market leader in smart windows. View Smart Windows use artificial intelligence to automatically adjust in response to the sun and increase access to natural light, to improve people’s health and experience in buildings, while simultaneously reducing energy consumption to mitigate the effects of climate change. Every View installation also includes a smart building platform that consists of power, network, and communication infrastructure. For more information, please visit: www.view.com

Contacts:

For Investors:

Samuel Meehan
[email protected]
408-493-1358

View Media Contact:

Michael Kellner
Treble
415-425-4773
[email protected]

BATON ROUGE, La., May 03, 2021 (GLOBE NEWSWIRE) — Amedisys, Inc. (NASDAQ: AMED), a leading provider of quality home health, hospice and personal care, has closed on its acquisition of regulatory assets that allow the Company to conduct home health care operations in Randolph County, N.C.

Under the terms of the agreement, Amedisys acquires the right to operate certified home health care services in Randolph County, N.C., and surrounding areas within a 50-mile radius, including Montgomery County. Amedisys will open a start-up care center to serve patients in the newly acquired service area, which provides access to 31,000 Medicare and Medicare Advantage enrollees.

“We’re honored to be able to offer our compassionate, clinically distinct care to more patients in more places,” stated Home Health President Teonie Aurelio. “Expanding our footprint into this key market further establishes Amedisys as America’s solution for aging in place.”

Amedisys is the second largest provider of home health care in the United States with 320 locations across 33 states and the District of Columbia.

About Amedisys:

Amedisys, Inc. is a leading healthcare at home company delivering personalized home health, hospice and personal care. Amedisys is focused on delivering the care that is best for our patients, whether that is home-based personal care; recovery and rehabilitation after an operation or injury; care focused on empowering them to manage a chronic disease; or hospice care at the end of life. More than 2,900 hospitals and 78,000 physicians nationwide have chosen Amedisys as a partner in post-acute care. Founded in 1982, headquartered in Baton Rouge, LA with an executive office in Nashville, TN, Amedisys is a publicly held company. With approximately 21,000 employees in 514 care centers within 39 states and the District of Columbia, Amedisys is dedicated to delivering the highest quality of care to the doorsteps of more than 418,000 patients and clients in need every year. For more information about the Company, please visit: www.amedisys.com.

Forward-Looking Statements:

When included in this press release, words like “believes,” “belief,” “expects,” “plans,” “anticipates,” “intends,” “projects,” “estimates,” “may,” “might,” “would,” “should,” “will” and similar expressions are intended to identify forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a variety of risks and uncertainties that could cause actual results to differ materially from those described therein. These risks and uncertainties include, but are not limited to the following: the impact of the novel coronavirus pandemic (“COVID-19”), including the measures that have been and may be taken by governmental authorities to mitigate it, on our business, financial condition and results of operations, changes in or our failure to comply with existing federal and state laws or regulations or the inability to comply with new government regulations on a timely basis, changes in Medicare and other medical payment levels, our ability to open care centers, acquire additional care centers and integrate and operate these care centers effectively, competition in the healthcare industry, changes in the case mix of patients and payment methodologies, changes in estimates and judgments associated with critical accounting policies, our ability to maintain or establish new patient referral sources, our ability to consistently provide high-quality care, our ability to attract and retain qualified personnel, our ability to keep our patients and employees safe, changes in payments and covered services by federal and state governments, future cost containment initiatives undertaken by third-party payors, our access to financing, our ability to meet debt service requirements and comply with covenants in debt agreements, business disruptions due to natural disasters or acts of terrorism, widespread protest or civil unrest, our ability to integrate, manage and keep our information systems secure, our ability to realize the anticipated benefits of acquisitions, and changes in law or developments with respect to any litigation relating to the Company, including various other matters, many of which are beyond our control.

Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, you should not rely on any forward-looking statement as a prediction of future events. We expressly disclaim any obligation or undertaking, and we do not intend to release publicly any updates or changes in our expectations concerning the forward-looking statements or any changes in events, conditions or circumstances upon which any forward-looking statement may be based, except as required by law.

Contact:

Kendra Kimmons
Vice President of Marketing & Communications
225-299-3708
[email protected]