Nutrien Ltd forecast lower-than-expected 2023 earnings and posted fourth-quarter profit below Wall Street estimates
on Wednesday forecast lower-than-expected 2023 earnings and posted fourth-quarter profit below Wall Street estimates, sending shares down 3.5% in extended trading.
A rise in fertilizer prices led to a pullback in demand as farmers looked to cut expenses. Nutrien said 2022 sales volume was lower due to a delayed planting season in North America. The company forecast its 2023 adjusted earnings in the range of $8.45 to $10.65 per share compared with analysts’ estimate of $11.62 per share.
Excluding items, the company reported earnings of $2.02 per share for the three months ended Dec. 31, compared with average analyst estimate of $2.62 per share, according to Refinitiv data.Tickers mentioned in this storyBuild your personal news feed
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