Nutrien sees strong potash demand, weakness in pricey nitrogen fertilizer
NTR•Nutrien reported third-quarter earnings of 61 cents per share, below analyst expectations of 80 cents, as weaker nitrogen fertilizer sales and higher production costs weighed on profitability. The company said potash demand remains high and plans to close its Florida phosphate operation in the first half of 2027.
1. Earnings and demand
Nutrien said third-quarter earnings were 61 cents per share, compared with analyst expectations of 80 cents. The company said financially squeezed farmers, especially in Brazil, are delaying nitrogen fertilizer purchases, while global demand for potash remains high. It expects U.S. farmers to catch up on fall fertilizer applications in coming weeks after better weather and to replenish soils depleted by this year's crop.
2. Fertilizer operations
Nutrien will close its Florida phosphate mine and processing operation in the first half of 2027 because of poor profitability and depleting reserves. It has completed the closure of its Trinidad nitrogen fertilizer plant, citing uncertain natural gas supply and port-charge issues, while retaining and reinvesting in its Aurora, North Carolina phosphate mine and complex. CEO Ken Seitz said North American production gives the company an advantage over producers in regions such as Europe, where natural gas costs are much higher.
