The company reported its results for the quarter ended March 2023 more than a month ago.ĬF reported revenues of $2.01 billion in the last reported quarter, representing a year-over-year change of -29.9%. Over the past month, CF Industries (CF), a stock from the same industry, has gained 0.3%. Nutrien is part of the Zacks Fertilizers industry. We expect an in-line return from the stock in the next few months. Notably, Nutrien has a Zacks Rank #3 (Hold). If you aren't focused on one strategy, this score is the one you should be interested in.Įstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Overall, the stock has an aggregate VGM Score of C. However, the stock was allocated a grade of A on the value side, putting it in the top 20% for this investment strategy. The consensus estimate has shifted -19.37% due to these changes.Ĭurrently, Nutrien has a poor Growth Score of F, a grade with the same score on the momentum front. It turns out, fresh estimates have trended downward during the past month. How Have Estimates Been Moving Since Then? Nitrogen sales volumes are expected to be in the band of 10.8-11.4 million tons for the year. The company estimates potash sales volumes of between 13.5 million and 14.3 million tons for 2023. Adjusted EPS has been forecast in the band of $5.5-$7.5. The company now expects adjusted EBITDA of $6.5-$8 billion for full-year 2023. Nutrien revised its full-year 2023 adjusted EBITDA guidance and full-year adjusted net earnings per share guidance, factoring in lower expected benchmark fertilizer pricing and lower expected natural gas costs in North America. The company repurchased around 11.8 million shares year to date as of Mar 31, 2023, for a total of roughly $900 million. Long-term debt was $9,510 million, up roughly 18%. FinancialsĪt the end of the quarter, Nutrien had cash and cash equivalents of $1,473 million, up around 63% sequentially. Sales in the Phosphate segment were $446 million, down 21% year over year due to lower production volumes and cautious buying activity. Sales volume witnessed a slight increase, benefiting from increased production of Urea in Canadian facilities. The downside can be attributed to lower net realized selling prices for all major nitrogen products. Sales in the Nitrogen segment were $1,179 million, down around 22% year over year. Sales volumes in the segment fell in North America due to just-in-time buying. The Potash division’s sales decreased 46% year over year to $1,002 million due to lower net realized selling prices and sales volumes.
Sales of crop nutrients decreased due to lower selling prices. Sales in the Nutrien Ag Solutions (Retail) segment declined 11% year over year to $3,422 million in the quarter. These were partly offset by the lower cost of goods sold due to a decline in natural gas costs and higher operating rates at its North American nitrogen plants. Nutrien's results were hurt by lower realized selling prices across its segments and reduced sales volumes in Retail, Potash and Phosphate units. The figure missed the Zacks Consensus Estimate of $6,672.9 million. Sales decreased around 20.2% year over year to $6,107 million in the quarter. The bottom line missed the Zacks Consensus Estimate of $1.54. Nutrien recorded first-quarter 2023 profits of $576 million or $1.14 per share, down from $1,385 million or $2.49 in the year-ago quarter.īarring one-time items, adjusted earnings per share were $1.11.
Nutrien Misses Earnings and Revenue Estimates in Q1
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