Nutrien sees strong potash demand, weakness in pricey nitrogen fertilizer
BNN Bloomberg · Reuters Staff ·
Nutrien is struggling from fertilizer production challenges affecting the industry globally, posting quarterly earnings below analyst estimates as a slump in nitrogen fertilizer sales and increased sulfur and other production costs drag on profitability.
WINNIPEG -- Nutrien is struggling from fertilizer production challenges affecting the industry globally, posting quarterly earnings below analyst estimates as a slump in nitrogen fertilizer sales and increased sulfur and other production costs drag on profitability.
The world’s largest potash producer reported on Thursday third-quarter earnings of 61 cents per share compared to expectations of 80 cents a share.
In its results conference call, the Saskatoon-based company said it is seeing financially squeezed farmers, especially in Brazil, putting off nitrogen fertilizer purchases, but global demand remaining high for potash, its main product.
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