Oklahoma business briefs for Jun 13
LSB adjusts earnings due to repairs
Oklahoma City-based chemical company LSB Industries Inc. said Tuesday that its ammonia plant at El Dorado, Arkansas, was taken out of service on June 4 after a power failure at the facility.
LSB management estimates ammonia production will resume by the last week of June. Management estimates the total impact to second-quarter adjusted earnings from unplanned repair expenses, reduced absorption of fixed costs relating to the downtime and lost sales will be about $10 million to $11 million.
Additionally, LSB's ammonia plant at Pryor was taken out of service for short periods several times during the quarter to repair leaks to the waste heat boiler. Management estimates the second-quarter adjusted earnings impact from that downtime will be about $3 million to $4 million.
Shares of LSB fell 10 percent, or 54 cents, to close Tuesday at $4.86 per share.
Pharmacy firm appoints new leaders
Oklahoma City-based OptionOne Pharmacy, a specialty pharmacy providing home and alternate-site infusion therapies, announced four new appointments in company leadership on Tuesday.
Len Branham was hired as vice president of strategy and health care initiatives; Carly Casler was promoted to vice president of specialty pharmacy services; Rebecca McReynolds was hired as controller; and Lyndi Zavy was promoted to vice president of organizational development. All four are working in their new roles and are the first people to hold those titles.
Small business optimism shows gains
The NFIB Small Business Optimism Index increased in May to the second highest level in the survey's 45-year history.
The index rose to 107.8, a three-point gain, with small businesses reporting high numbers in several key areas including compensation, profits and sales trends.
State-specific data is unavailable, but NFIB State Director Jerrod Shouse said businesses here have responded well to Washington's commitment to cutting taxes and easing regulations on small businesses.
Jones PR earns award for campaign
Oklahoma City-based Jones PR won the Public Relations Society of America's 2018 Silver Anvil Award for Best Public Affairs Campaign. The recognition is for the agency's work on behalf of the Association of Oklahoma General Contractors.
“PRSA's Silver Anvil Awards are considered the Oscar of our profession. The recognition of an Oklahoma agency's work among the largest national and global agencies is truly an honor,” said Brenda Jones Barwick, Jones PR president and CEO.
FROM STAFF REPORTS