Adds particulars on potash forecast, CEO quote, rival Mosaic's earnings
Adds particulars on potash forecast, CEO quote, rival Mosaic’s earnings
Nov 4 (Reuters) – Canadian fertilizer maker Nutrien Ltd NTR.TO missed third-quarter revenue estimates and minimize full-year earnings forecast on Monday, because it battled decrease demand for its crop vitamins.
Agricultural corporations have seen their earnings hammered by harsh climate that delayed planting season in North America and a commerce battle fueled uncertainty that has crimped crop demand.
“Nutrien’s third-quarter outcomes and fourth-quarter expectations are impacted by quick time period market softness. Nevertheless, we consider that agriculture fundamentals are beginning to strengthen and we count on 2020 to be a powerful yr for crop enter demand for which we’re effectively positioned to profit,” Chief Govt Officer Chuck Magro mentioned in an announcement.
Individually, rival Mosaic Co MOS.N additionally missed adjusted revenue estimates resulting from decrease costs for phosphate.
Nutrien, the world’s largest…