Nutrien beats Q2 earnings estimates but cuts full-year guidance (NYSE:NTR)

Farmer's fertilizer. NPK fertilizers are three-component fertilizers that provide nitrogen, phosphorus and potassium

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Nutrient (NYSE: NTR) +1.3% Post-market on Wednesday after announcing better-than-expected Q2 underlying earnings on the back of rising fertilizer prices more than offsetting rising natural gas costs and lower sales Volume as it capped a first half that delivered record revenue of ~$5B.

Net income for the second quarter more than tripled to $3.6 billion, or $6.51/share, from $1.11 billion, or $1.94/share, in the year-ago quarter, while revenue rose 48% year-over-year USD 14.5 billion, which fell short of analysts’ estimates.

Nutrien Ag Solutions delivered record Q2 and Q1 Adjusted EBITDA driven by strong revenue and gross margin growth.

But the world’s largest fertilizer maker cut its full-year guidance for adjusted earnings per share to $15.80-$17.80 from $16.20-$18.70, down from the analyst consensus estimate of $16.97- and Adjusted EBITDA of B$16.5 billion from US$14.5 to US$14 to US$15.5 billion, primarily due to lower expected nitrogen revenues resulting from lower benchmark nitrogen prices and higher natural gas costs.

Nutrien (NTR) also lowered potash and nitrogen sales guidance to reflect the impact of lower application in North America this spring.

The company said the guidance includes plans to allocate ~$5 billion for share buybacks in 2022.

Nutrien (NTR) shares are up 7.5% year-to-date and 38% over the past year. Nutrien beats Q2 earnings estimates but cuts full-year guidance (NYSE:NTR)

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