Nutrien earns US$1.4-billion in latest quarter, hikes guidance as war in Ukraine drives fertilizer demand
Source Globe and Mail
Nutrien Ltd. NTR-T +1.62% increase has significantly hiked its earnings forecast for the year after announcing a record first quarter profit driven by surging commodity prices and concerns about global food security due to Russia's invasion of Ukraine.
The Saskatoon-based company, which is the world's largest producer of fertilizer and reports in U.S. dollars, earned a record US$1.4 billion in the quarter ended March 31. That works out to $2.49 per share, more than 10 times the 22 cents per share it earned in the same period of 2021.