Nutrien beats Q2 earnings estimates however cuts full-year steering (NYSE:NTR)

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iamporpla/iStock by way of Getty Photographs Nutrien (NYSE:NTR) +1.3% post-market on Wednesday after posting higher than anticipated Q2 adjusted earnings, sparked by hovering costs of crop vitamins that greater than offset rising pure fuel prices and decreased gross sales volumes, because it concluded a first-half that delivered document earnings of ~$5B. Q2 web revenue greater than tripled to $3.6B, or $6.51/share, from $1.11B, or $1.94/share, within the year-ago quarter, whereas revenues rose 48% Y/Y to $14.5B, which fell wanting analyst estimates. Nutrien Ag Options delivered document adjusted EBITDA in Q2 and H1, on account of sturdy gross sales and gross margin development. However the world’s largest fertilizer producer minimize its full-year steering for adjusted EPS to $15.80-$17.80, in step with $16.97 analyst consensus estimate, from its prior outlook of $16.20-$18.70, in addition to adjusted EBITDA to $14B-$15.5B from $14.5B-$16.5B, primarily resulting from decrease anticipated Nitrogen earnings on account of decrease nitrogen benchmark pricing and better pure fuel prices. Nutrien (NTR) additionally lowered potash and nitrogen gross sales quantity steering to replicate the impression of decrease software in North America this spring. The corporate mentioned steering consists of plans to allocate ~$5B to share repurchases in 2022. Nutrien (NTR) shares have gained 7.5% YTD and 38% throughout the previous yr.

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