Saskatoon-based Nutrien has announced record earnings for the second quarter of this year and for the first half of 2021.
Second quarter net earnings were 1.1 billion dollars.
Nutrien president Mayo Schmidt says the company expects to set a new earnings record for the entire year.
He says the outlook for global crop and fertilizer markets continues to be very strong and the company is well structured as a global leader in agriculture.
He says the company adjusted its outlook guidance by over 1.5 billion dollars, supported by quick action to produce an additional one million tons of potash.
In the first half of the year, Nutrien generated record earnings before interest, taxes and depreciation of 3 billion dollars, up 36 percent from the first half of last year and 17 percent more than the record in the first half of 2019.
By the final quarter of this year, the company expects to surge potash production to an annual rate of about 17 million tons.
Nitrogen and phosphate adjusted earnings were up 45 percent due to higher selling prices.
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