Adds third-quarter particulars, forecast, Mosaic outcomes N
Adds third-quarter particulars, forecast, Mosaic outcomes
Nov 2 (Reuters) – Canadian fertilizer maker Nutrien Ltd NTR.TO, NTR.N on Monday narrowed its full-year revenue forecast and mentioned it has seen an enchancment in market circumstances globally, helped by greater crop and fertilizer costs.
The Saskatchewan-based firm, the world’s greatest fertilizer maker by capability, additionally posted a web loss for the third quarter, harm by an impairment cost of $823 million.
The corporate mentioned it now expects 2020 adjusted web earnings to fall within the vary of $1.60 to $1.85 per share, in contrast with its earlier forecast of $1.50 to $1.90 per share.
Nutrien lowered the top-end of its full-year forecast for adjusted earnings earlier than curiosity, taxes, depreciation and amortization to $3.5 to $3.7 billion, from $3.5 to $3.eight billion.
The corporate posted a web lack of $587 million, or $1.03 per share, for the third quarter ended Sept. 30, in contrast with a revenue of $141 million, or 24 cents per share, a yr earlier.
The impairment cost was associated to a much less favorable long-term outlook for phosphate costs and anticipated world provide imbalance, the corporate mentioned.
Rival Mosaic Co MOS.N on Monday reported a quarterly adjusted revenue of 23 cents per share, beating analysts’ common estimate of 17 cents per share, helped by greater gross margins.
(Reporting by Shradha Singh in Bengaluru; Modifying by Maju Samuel)
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