The company reportedly raised its forecast for potash sales volumes to between 12.3 and 12.8 million t, citing strong global potash demand. This is a compared to a projection in May, which was in the range of 12 million t – 12.5 million t.
Nonetheless, Nutrien has also stated that the majority of US crop prices have decreased over the quarter. This has reportedly been driven by a combination of favourable US crop prospects and uncertainty regarding escalating trade restrictions.
In the three months ended 30 June, Nutrien reportedly posted a net income of $741 million. On a pro forma basis, the company earned $705 million in net income a year earlier.
According to Reuters, Nutrien’s sales increased by 10.8%, reaching $8.15 billion. Excluding items, the company reportedly earned CAN$1.48 per share, whilst analysts were originally expecting a profit of CAN$1.38 per share.
Read the article online at: https://www.worldfertilizer.com/nitrogen/02082018/nutrien-posts-better-than-expected-profit/