Terra Nitrogen Company, L.P. reported the declaration of a cash distribution for the quarter ended March 31, 2013, of $4.68 per common limited partnership unit payable May 30, 2013, to holders of record as of May 20, 2013. The company announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net sales of $224.1 million compared to $196.9 million a year ago. Earnings from operations were $166.8 million compared to $124.2 million a year ago. Net earnings were $166.8 million compared to $124.2 million a year ago. Allocation of net earnings to common units was $92.2 million compared to $69.9 million a year ago. Net earnings per common unit were $4.98 compared to $3.78 a year ago. Results for the first quarter of 2013 included an unrealized mark-to-market gain on natural gas derivatives of $3.7 million compared to a loss of $11.3 million in the first quarter of 2012. The increase in Net Sales were due to higher ammonia and UAN average selling prices and higher UAN sales volume, which were offset partially by lower ammonia sales volume. In 2013, the company is expected to have capital expenditures in the range of $75 million to $100 million. The capital program includes a rail yard expansion, new ammonia and UAN storage tanks, and control and electrical system upgrades. Some of these projects may extend beyond 2013. In addition to these projects, the company will be undertaking a major turnaround in the second quarter of 2013, which will result in lower production and sales volume during that period.

Terra Nitrogen Company, L.P. announced consolidated earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported total net sales $206.5 million against $201.0 million for the same period a year ago. Earnings from operations were $150.0 million against $129.7 million for the same period a year ago. Net earnings were $150.0 million against $129.8 million for the same period a year ago. Net earnings allocation to common units was $85.3 million against $71.5 million a year ago. Net earnings allocation to general partner was $63.2 million against $56.9 million a year ago. Net earnings allocation to class B common units was $1.5 million against $1.04 million a year ago. Net earnings per common unit were $4.61 against $3.87 a year ago. Results for the fourth quarter of 2012 included an unrealized mark-to-market gain on natural gas derivatives of $1.0 million compared to a loss of $7.5 million in the fourth quarter of 2011. The increase in sales was due to higher ammonia and urea ammonium nitrate solution (UAN) product volumes and higher average ammonia selling prices. For the year, the company reported total net sales $780.1 million against $798.9 million for the same period a year ago. Earnings from operations were $560.8 million against $507.9 million for the same period a year ago. Net earnings were $560.8 million against $508.0 million for the same period a year ago. Net earnings allocation to common units was $315.6 million against $283.6 million a year ago. Net earnings allocation to general partner was $239.7 million against $219.4 million a year ago. Net earnings allocation to class B common units was $5.5 million against $5.0 million a year ago. Net earnings per common unit were $17.06 against $15.33 a year ago. The decrease in sales was due to lower ammonia and UAN volumes and a lower UAN average selling price. The volume decline was due primarily to the timing impact of the implementation of a new Services and Offtake Agreement with CF Industries on January 1, 2011, which resulted in a one-time increase in sales volume recognized upon adoption of the agreement. Capital expenditures were $46.7 million as compared to $8.7 million in 2011. For the year 2013, the company is expected to have capital expenditures in the range of $75 million to $100 million. The capital program includes a rail yard expansion, new ammonia and UAN storage tanks, and control and electrical system upgrades.

Terra Nitrogen Company, L.P. announced the declaration of a cash distribution for the quarter ended December 31, 2012, of $3.63 per common limited partnership unit. The distribution is payable February 28, 2013, to holders of record as of February 19, 2013.