09:44 AM EST - Agrium Inc. : announced third-quarter net earnings of $26 million U.S. or $0.16 U.S. per share, compared to net earnings of $367 million U.S. or $2.31 U.S. per share in the third quarter of 2008. The 2009 third quarter results included gains of $5 million U.S. on derivative financial instruments and a $25-million-U.S. expense in stock-based compensation. It also included an inventory writedown of $9 million U.S. primarily associated with Wholesale purchase for resale business. Excluding these items, net earnings would have been $46 million U.S. or $0.29 U.S. earnings per share for the third quarter of 2009. Analysts polled by Thomson Reuters expected the company to report earnings of $0.16 U.S. per share for the quarter. Analysts' estimates typically exclude special items. Net sales for the quarter were $1.84 billion U.S., compared to $3.11 billion U.S. in the prior-year quarter. Nine analysts had consensus revenue estimate of $2.07 billion U.S. for the quarter. Agrium Inc.
shares T.AGU are trading up $0.19 at $51.50.
