LSB Industries Inc. (NYSE: LXU) announced a settlement agreement with Benham Constructors LLC to resolve litigation related to engineering and procurement contracts for an ammonia plant construction project at the company's El Dorado, Arkansas facility.

The settlement agreement, effective March 26, 2026, requires Benham to pay LSB Industries approximately $20.9 million within 60 days. The litigation dates back to 2016 and involved disputes over the construction of the ammonia plant.

Under the settlement terms, both LSB Industries and Benham agreed to dismiss their respective claims against each other with prejudice. The settlement agreement does not include any admission of liability by either party.

The settlement does not affect LSB Industries' ongoing legal claims against Leidos Inc. and Leidos Engineering LLC. The company said it will continue pursuing claims for fraud and breach of contract against these entities, seeking actual and punitive damages exceeding $300 million. A trial for these claims is scheduled to begin in October 2026.

The litigation stems from engineering and procurement contracts related to the ammonia plant construction project that began in 2016.