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Nutrien’s results closely aligned with our expectations, albeit slightly lower in the retail and potash segments due to lower realized prices. In 4Q23, the company reported a 25% decline in revenue to $5,664mn and a 49% drop in Adjusted EBITDA to $1,075mn. The company’s Adjusted EBITDA reached $6,058mn in FY23. Although Nutrien observed an improvement in demand and lower channel inventories in 2H of the year, the prevailing lower price environment dictated the market conditions. Nutrien operat
Companies: Nutrien Ltd.
Hypothesis Research
In 3Q23, Nutrien reports revenue of $5,631mn, down 31% YoY, and adjusted EBITDA of $1,084mn, down 56% YoY as fertilizer prices return to their 6-year averages. On the positive side, Nutrien reports crop nutrients gross margin improvement in the Retail segment, higher volumes of crop nutrients sales, and high historical potash sales volumes with lower potash cash cost in 2Q. Retail sales were down 12% YoY to $3,490mn in 3Q23, generating $895mn (-2% YoY) gross margin and $197mn (-16% YoY) Adj EB
Companies: Nutrien Ltd. (NTR:TSE)Nutrien Ltd. (NTR:NYS)
Nutrien reports $11,654mn in revenue, down 20% YoY, and adjusted EBITDA of $2,478mn, down 50% YoY in 2Q23, driven by lower product prices. The company’s Retail sales were down 3% YoY to $9,128mn in 2Q23. Despite a strong sales volume, which increased by 15% YoY on higher planted acreage to 5.7mt in 2Q23, crop nutrients selling price was down 24% YoY to $695/t with a greater decline on international markets (-33% YoY) compared to North America (-22%). The crop protection price was lower as well
Nutrien reports $576mn of net earnings, down 58% YoY, and adjusted EBITDA of $1.4bn, down 42% YoY in 1Q23 as product prices corrected from their highs. The company’s Retail sales were down 11% YoY to $3,422mn in 1Q23, driven by a drop in crop nutrients sales by 16% YoY to $1,335mn and a 17% decline in crop protection products sales to $1,154mn. Retail gross margin fell by 52% YoY for crop nutrients and by 26% YoY for crop protection products resulting in a 27% decline in retail margin. Crop nu
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