Nutrien reports 3Q18 results
Published by Robyn Wainwright,
Nutrien Ltd. has announced its 3Q18 results, with net loss from continuing operations of US$1.1 billion (US$1.74 loss/share).
3Q18 adjusted net earnings was US$0.47/share and adjusted EBITDA4 was US$839 million. Adjusted net earnings and adjusted EBITDA exclude a New Brunswick potash non-cash impairment of US$1.8 billion (US$2.15/share) and gain on adjustment of pension and other post-retirement benefit plans of US$151 million (US$0.18/share).
Nutrien also announced that its Board of Directors has declared a quarterly dividend of US$0.43/share payable January 17, 2019 to shareholders of record on December 31, 2018. This represents a 7.5% increase in the dividend and is representative of improving market fundamentals and confidence in its operational cash flow moving forward.
"In 3Q18, Nutrien delivered solid operating results,"said Chuck Magro, Nutrien's President and CEO."Retail earnings increased by 10% y/y, while our nutrient production operations reported higher volumes, margins, and significantly lower costs. We also made significant advances on our strategic priorities including raising the dividend and our synergy target, completing our share repurchase programme and closing the sale of our stake in Arab Potash Company. We remain on track to receive US$5 billion in net proceeds from the sale of our equity investments. Nutrien has also raised its annual guidance due to the strength of market fundamentals and acceleration of merger synergies. We continue to be well positioned to deliver strong long-term shareholder returns."
Read the article online at: https://www.worldfertilizer.com/special-reports/06112018/nutrien-reports-3q18-results/
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