Nutrien shares higher: Nutrien becomes even more optimistic

The Canadian K + S competitor Nutrien is raising its annual targets further due to high fertilizer prices.

After a jump in profits in the third quarter, the group expects an adjusted operating profit (Ebitda) of 6.9 to 7.1 billion US dollars (up to 6.1 billion euros) for 2021, according to a statement on Monday evening. So far, Nutrien boss Mayo Schmidt had promised 6.4 billion dollars at best. The lively business development should continue into 2022, said Schmidt according to the announcement.

High crop prices created incentives for farmers to spend more money on fertilizer, it said. At the same time, the supply of potash fertilizer remains scarce due to production bottlenecks at the competition and delays in new projects in the industry. Meanwhile, the manufacturers could hardly increase their current production significantly.

In the three months to the end of September, the operating result soared in comparison to the same period last year by almost 150 percent to a good 1.6 billion dollars and thus more clearly than expected by analysts. The bottom line was 726 million dollars after Nutrien (Ex Potash Agrium) posted a loss of more than half a billion a year ago due to a high write-off in the phosphate business. Revenues rose more than two-fifths to $ 6 billion in the third quarter.

In US trading on the NYSE, the Nutrien share rose at times by 5.05 percent to 67.94 US dollars.

/ mis / stw / stk


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