Nutrien misses quarterly profit estimates

Credit: REUTERS/Nayan Sthankiya

Adds details on outlook in paragraph 3

May 10 (Reuters) - Fertilizer maker Nutrien Ltd NTR.TO on Wednesday reported a lower-than-expected profit in the first quarter due to a fall in sales as farmers delayed purchases due to high prices.

Fertilizer prices have dipped from record highs last year, but that has failed to boost demand from farmers who are expecting prices to settle even lower.

The company also lowered its full-year adjusted earnings forecast between $5.50 per share and $7.50 per share, compared with its previous outlook of $8.45 per share to $10.65 per share.

On an adjusted basis, the potash producer earned $1.11 per share in the three months ended March 31, compared with estimates of $1.47, according to Refinitiv data.

(Reporting by Sourasis Bose in Bengaluru; Editing by Shinjini Ganguli and Shounak Dasgupta)


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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