Nutrien reported third quarter 2026 revenue of $6.06 billion, exceeding analyst estimates of $5.68 billion, driven by record potash sales volumes and favorable affordability in major importing regions. However, net earnings of $288 million and diluted EPS of $0.60 missed expectations of $0.66, primarily due to lower nitrogen realizations and higher turnaround activity. Management updated its full-year guidance, increasing volume expectations for potash and nitrogen while revising Retail adjusted EBITDA targets downward.
Key Highlights
- Potash sales volumes reached a record 4.1 million tonnes in the quarter, significantly beating the estimated 3.45 million tonnes.
- The company announced the upcoming shutdown of the White Springs phosphate facility in Q2 2027 and the indefinite closure of Trinidad nitrogen operations to optimize its portfolio.
- Retail adjusted EBITDA guidance for 2026 was revised to $1.72–$1.85 billion, down from the previous range of $1.75–$1.95 billion, reflecting lower crop nutrient gross margins.
- Total capital expenditure guidance for 2026 was lowered to $1.95–$2.00 billion, focusing on capital efficiency and free cash flow growth.