- Nutiren (NYSE:NTR) +4.8% after-hours as it reports solid beats for Q2 earnings and revenues, driven by higher prices for potash and nitrogen fertilizers, and raises full-year guidance.
- Q2 potash sales volumes rose 3% Y/Y to 3.18M metric tons due to strong offshore demand and a higher Canpotex allocation compared to the prior-year quarter, while nitrogen sales volumes gained 8% Y/Y to 3.06M metric tons as higher urea, solutions and nitrates sales more than offset lower ammonia sales.
- NTR raises FY 2018 guidance for EPS of $2.40-$2.70 from its previous outlook for $2.20-$2.60 and above $2.39 analyst consensus estimate, and for adjusted EBITDA to $3.7-$4B from $3.3B-$3.7B previously.
- NTR also lifts guidance for potash sales volumes and EBITDA to 12.3M-12.8M metric tons and $1.4B-$1.6B, respectively, and for nitrogen sales volumes and EBITDA to 10.3M-10.7M metric tons and $1B-$1.1B, respectively.
- Now read: Mosaic: Buy The Reversal
Original article