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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Nutrien Ltd.    NTR   CA67077M1086


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Nutrien : cuts 2020 adjusted profit forecast on weak ammonia prices

08/10/2020 | 07:10pm EST

Aug 10 (Reuters) - Canadian fertilizer maker Nutrien Ltd on Monday cut its annual adjusted profit forecast as weaker-than-normal industrial demand held back prices for ammonia and urea ammonium nitrate.

The company cut the top end of its 2020 adjusted earnings per share forecast to $1.90 from $2.10 earlier, while retaining the lower end at $1.50.

Even as industrial utilization picked up in Asia, weak demand in Western Hemisphere hurt ammonia prices, Nutrien said.

The company said demand for urea was strong in India and expects Chinese urea exports to pick up pace in the second half, though they are lower year-on-year.

Revenue of $8.18 billion for the second quarter missed analysts' estimate of $8.35 billion, according to Refinitiv IBES.

Potash sales volumes in North America rose from an increase in U.S. planted acreage and more normal weather this spring, but prices still suffered as the benchmark was dragged by weak demand abroad.

Net potash sales outside of North America declined about 40% due to lower Chinese import demand and some short-term cautious spot purchasing in certain international markets, the company said.

The Saskatoon, Saskatchewan-based company's net income fell to $765 million, or $1.34 per share, in the three months ended June 30, from $858 million, or $1.47 per share, a year earlier.

On an adjusted basis, it earned $1.45 per share, beating expectations of $1.33, helped by lower costs. (Reporting by Arunima Kumar in Bengaluru; Editing by Devika Syamnath and Sriraj Kalluvila)

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ACREAGE HOLDINGS, INC. -1.07% 2.77 End-of-day quote.-53.21%
NUTRIEN LTD. -0.31% 64.1 Delayed Quote.3.43%
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Financials (USD)
Sales 2020 19 684 M - -
Net income 2020 437 M - -
Net Debt 2020 9 747 M - -
P/E ratio 2020 55,0x
Yield 2020 3,66%
Capitalization 28 146 M 28 168 M -
EV / Sales 2020 1,93x
EV / Sales 2021 1,84x
Nbr of Employees 22 300
Free-Float 99,2%
Duration : Period :
Nutrien Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends NUTRIEN LTD.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 49,15 $
Last Close Price 49,30 $
Spread / Highest target 17,3%
Spread / Average Target -0,30%
Spread / Lowest Target -16,8%
EPS Revisions
Charles V. Magro President, CEO & Non-Independent Director
Mayo M. Schmidt Chairman
Pedro Farah Chief Financial Officer & Executive Vice President
Brent D. Poohkay Chief Information Officer & Executive VP
Christopher M. Burley Independent Director
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