Nutrien Reports Q3 Earnings Decline

Nutrien Ltd reported a significant decline in third-quarter earnings for 2024, with net earnings dropping 70% to $25 million, or $0.04 per share, missing analyst expectations of $0.46 per share. The company's revenues also fell to $5.35 billion, down from $5.63 billion a year earlier, attributed primarily to lower potash selling prices and retail earnings. Adjusted EBITDA for the quarter was $1 billion, while year-to-date adjusted EBITDA reached $4.3 billion. Despite increased potash sales volumes, the company lowered its full-year retail adjusted EBITDA guidance due to reduced field activity in North America. Nutrien's CEO, Ken Seitz, emphasized a focus on strategic priorities to optimize capital spending and enhance operational efficiencies. The company's stock has underperformed in 2024, losing about 10.1%, contrasting with a strong gain in the S&P 500.