Nutrien pops after sturdy This fall outcomes; sees report potash gross sales volumes in 2022 (NYSE:NTR)

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Mining of potash ore in an underground mine using a mining machine

Ramil Nasibulin/iStock through Getty Photos

Nutrien (NYSE:NTR) +3.2% post-market after topping This fall earnings and income estimates, elevating its quarterly dividend by 4.3% to $0.48/share and approving the acquisition of as a lot as 10% of the general public float of frequent shares over the following yr, as the corporate loved greater demand for potash and different crop fertilizers.

Nutrien says it generated This fall internet earnings of $1.2B, almost 4x better than $316M within the pear-earlier quarter, and report adjusted EBITDA of $2.46B, greater than triple the $768M posted a yr in the past.

The corporate says the sturdy positive aspects have been as a result of greater internet realized promoting costs throughout its nutrient companies, greater potash gross sales volumes, and powerful natural and proprietary product gross sales progress within the Retail phase.

This fall gross sales in Retail phase soared 48% Y/Y to $3.88B, together with an 84% surge in crop vitamins gross sales to $2.03B and a 34% rise in crop safety merchandise to $1.11B; crop vitamins gross sales elevated within the quarter and full yr as a result of report gross sales volumes and better promoting costs.

Nitrogen revenues rose by 2.5x to $1.46B, though gross sales volumes fell barely as a result of extra deliberate plant turnaround exercise; Potash phase gross sales greater than tripled to $1.42B, as gross sales volumes hit a This fall report as manufacturing surged to fulfill sturdy international demand and really tight international provide.

For FY 2022, Nutrien issued upside EPS steerage of $10.20-$11.80, nicely above the $9.53 analyst consensus estimate, and full-year adjusted EBITDA of $10B-$11.2B.

Nutrien additionally mentioned it expects report potash gross sales volumes in 2022 of 13.7M-14.3M metric tons, assuming sanctions on Belarus have a short lived influence on international provide, whereas nitrogen gross sales volumes rise to 10.8M-11.3M tons this yr.

Nutrien shares have gained 33% throughout the previous yr however are roughly flat YTD.

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