Nutrien Ltd. says it had record earnings in the second quarter and has raised its full-year outlook as it expects strong crop prices to increase demand for its services.
The Saskatoon-based fertilizer and crop services giant, which reports in U.S. dollars, says it earned US$1.1 billion in the quarter ending June 30, up from $765 million in the same quarter last year.
Post-tax adjusted net earnings were $1.19 billion, or $2.08 per diluted share, compared with $824 billion or $1.45 for the same quarter last year.
Consolidated net sales came in at $9.54 billion, compared with $8.18 billion last year.
![Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day.](https://globalnews.ca/wp-content/themes/shaw-globalnews/images/skyline/national.jpg)
Get daily National news
Analysts on average had expected adjusted net earnings of $2.09 cents per share and net sales of $9.55 billion, according to financial data firm Refinitiv.
The company has raised its adjusted net earnings guidance for the year from a range of $2.55 to $3.25 per share to $4.60 to $5.10 per share.
![Click to play video: 'Farmers see cost of fertilizer jump as grain prices rise'](https://i0.wp.com/media.globalnews.ca/videostatic/news/f0nvkp7s4q-16kbb1u90w/AG_MATTERS_FERTILIZER_PKG_QUINN_.jpg?w=1040&quality=70&strip=all)
Comments