Adjusted EPS and adjusted EBITDA for Q2 missed analyst expectations
Company raised potash sales volume guidance and lowered capital expenditures outlook
Key details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Sales
Beat
$10.81 bln
$10.30 bln (5 Analysts)
Q2 Adjusted EPS
Miss
$2.61
$2.71 (14 Analysts)
Q2 EPS
$2.53
Q2 Net Income
$1.22 bln
Q2 Adjusted EBITDA
Miss
$2.43 bln
$2.53 bln (15 Analysts)
Result drivers
Retail segment pressure - Retail adjusted EBITDA fell in Q2 due to lower crop nutrient sales volumes and higher fuel costs, partially offset by higher proprietary products margins and strong livestock market in Australia
Potash sales volume - Potash segment benefited from higher global benchmark prices and record sales volumes, supported by strong operational and supply chain execution, though higher provincial mining taxes partially offset gains
Nitrogen segment mixed - Nitrogen adjusted EBITDA decreased in Q2 due to lower sales volumes, but was supported by higher global benchmarks and lower natural gas costs
NTR•
