Fertilizer companies jump on multi-year-high profits, expect tight global demand

Intrepid Potash

03/05/2022 18:52

(Updates)
    ** Shares in the world's largest fertilizer company Nutrien
Ltd  NTR.N  jump as much as 7.7%; set for best day since March
2020 if gains hold
    ** Canada-listed shares  NTR.TO  top S&P/TSX 60 Index
 .SPTSE  after climbing as much as 7.5%
    ** Co's quarterly profit jumps 10-fold to record high,
raises adj. profit forecast well above analysts' estimates as
Ukraine's invasion by major exporter Russia sends crop prices
skyrocketing  urn:newsml:reuters.com:*:nL3N2WU27V
    ** NTR may raise its potash output in response to global
supply shortfall  urn:newsml:reuters.com:*:nL2N2WV19Q
    ** Rivals Mosaic Co  MOS.N  and CF Industries Holdings Inc
 CF.N  are among top S&P 500 Index  .SPX  gainers after soaring
as much as 8.8% and 5.9%, respectively
    ** MOS profit jumps 7-fold to multi-year high; adj. profit
narrowly beats estimates 
    ** Expects global potash deficit to take 2-4 yrs to catch up
to demand
    ** Intrepid Potash Inc  IPI.N  soars nearly 14% - set for
best day in a month if gains hold
    ** IPI posts rev. and adj. EPS above estimates; highest
profit in years
    ** CF to report earnings on Thursday 
    ** NTR up 31.9% YTD, MOS +59%, IPI +76.6%, CF +36.2%

 (Reporting by Sruthi Shankar and Ruhi Soni)
 ((sruthi.shankar@thomsonreuters.com;))