Nutrien Limited of Saskatoon says it had a net loss of $587 million in the third quarter of the year, including a non-cash impairment of $823 million, primarily related to its phosphate operation. Third-quarter adjusted net earnings were 23 cents per share, excluding the impairment. President and CEO Chuck Magro says, “Nutrien delivered another quarter of solid operating results with strong fertilizer sales volumes and exceptional growth of orders through our digital agriculture platform, surpassing $1 billion of sales.” He says market conditions are improving around the world with higher crop and fertilizer prices, lower expected inventories, and strong demand for crop inputs.
The company says potash sales volumes in the third quarter and in the first nine months of the year were higher compared to the same periods last year. Nutrien says it is fully committed on offshore potash sales volumes and well subscribed domestically for the rest of the year.