Terra Nitrogen Company reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. The company reported net earnings of $102.9 million on sales of $177.7 million for the first quarter ended March 31, 2014. This compares to net earnings of $166.8 million on sales of $224.1 million for the 2013 first quarter. Net income allocable to Common Units was $60.4 million or $3.26 per Common Unit and $92.2 million or $4.98 per Common Unit for the 2014 and 2013 first quarters, respectively. Results for the first quarter of 2014 included an unrealized mark-to-market loss on natural gas derivatives of $4.0 million compared to an unrealized mark-to-market gain of $3.7 million in the first quarter of 2013. Net sales for the 2014 first quarter totaled $177.7 million, compared to sales of $224.1 million for the 2013 first quarter. This decrease was due to lower ammonia and UAN average selling prices and lower UAN volume, which were offset partially by higher ammonia sales volume.

The company reported the declaration of a cash distribution for the quarter ended March 31, 2014, of $3.01 per common limited partnership unit payable May 30, 2014, to holders of record as of May 19, 2014.