Nutrien share: K + S competitor Nutrien raises the outlook

Global agricultural markets are being impacted by unprecedented supply disruptions that have pushed up commodity prices and heightened concerns about the food supply, Nutrien interim chief Ken Seitz said Monday night in a statement. Against this background, Nutrien is also increasing production.

Sanctions against the important potash fertilizer producing country Belarus had already pushed up the prices for the raw material last year. Russia’s war against Ukraine aggravated the situation. Russia and Belarus account for around 40 percent of global potash production.

Due to the high sales prices and the increase in production, the competitor of the MDax group K+S now expects earnings before interest, taxes, depreciation and amortization (Ebitda) of between 14.5 and 16.5 billion US dollars (up to 2022), adjusted for special effects 15.7 billion euros), after the best-case scenario had previously been budgeted at 11.2 billion dollars. K+S had already raised its outlook in mid-April.

In the past first quarter, Nutrien increased adjusted operating income to $2.6 billion, three times as much as a year ago. Net income increased tenfold to $1.4 billion.

/mis/men/eas

SASKATOON (dpa-AFX)

Image sources: Pavel Kapysh / Shutterstock.com