11:50 AM EST - Agrium Inc. : announced that its second-quarter net earnings were $370 million U.S. or $2.35 U.S. per share, compared to net earnings of $636 million U.S. or $4.00 U.S. per share, for the same quarter of 2008. Analysts polled by Thomson Reuters expected the company to report earnings of $1.81 U.S. per share for the quarter. Analysts' estimates typically exclude special items. The 2009 second quarter results included gains of $15 million U.S. ($0.07 U.S. earnings per share) on derivative financial instruments and a $4-million-U.S.expense in stock-based compensation for the quarter. It also included an inventory write-down of $32-million U.S. (a $0.15-U.S. decrease in earnings per share) primarily associated with our Wholesale purchase for resale business. Net sales for the quarter were $4.09 billion U.S., compared to $3.87 billion U.S. in the prior-year quarter. Five analysts had consensus revenue estimate of $3.40 billion U.S. for the quarter. Agrium Inc.
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