Nutrien (NTR) reported that its net profit in this year’s second quarter rose 224% to $3.6 billion
U.S. as global demand for fertilizer continues to strengthen.
The Saskatoon-based fertilizer producer said that its net earnings for the three months ended
June 30 were impacted by a non-cash impairment charge related of $450 million U.S.
Profits for Q2 equaled $6.51 U.S. per diluted share, up from $1.94 U.S. a share in the same
period of 2021.
Nutrien's sales in the quarter amounted to $14.5 billion U.S., a 49% year-over-year increase.
The company, which reports its results in U.S. dollars, said its potash sales totaled a record 3.7
million tonnes.
Nutrien has revised its full-year earnings guidance to between $14 billion U.S. and $15.5 billion
U.S., which is down from a previous forecast of $14.5 billion U.S. to $16.5 billion U.S.
The company said the lowered guidance is due to declining nitrogen prices and higher fuel
costs.
Nutrien stock is up 15% this year at $105.30 per share.
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