LXU - LSB Industries stock surges on new $150M stock buyback program

2023-05-08 10:20:08 ET

LSB Industries ( NYSE: LXU ) +11.4% in early trading Monday after its board authorized a stock repurchase program for up to $150M of outstanding common stock.

"We believe our stock is currently undervalued and this authorization gives us the ability to opportunistically buy shares of what we view as an attractive investment," President and CEO Mark Behrman said.

LSB Industries ( LXU ) recently reported Q1 adjusted earnings of $0.25/share on revenues of $181M .

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