Saskatoon-based Nutrien is reporting record net earnings of 1.4 billion dollars in the first three months of 2022.
Nutrien attributes the strong first quarter results to higher prices and strong retail demand, more than offsetting a reduction in fertilizer sales volumes, due to a delayed start in the North American planting season.
Nutrien says its full year adjusted earnings could range from 14.5 to 16.5 billion dollars.
Nutrien retail had record first quarter earnings before taxes of 240 million dollars due to strong markets.
Potash had 1.4 billion dollars of first quarter earnings before taxes, Nitrogen 995 million dollars, and Phosphate 239 million dollars.
Nutrien announced in March an intention to increase potash production by nearly one million tons due to uncertainty of potash supply from Eastern Europe, following the Russian invasion of Ukraine.
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