Nutrien raises profit forecast to above market estimates, shares up

Intrepid Potash

03/05/2022 11:11

** Shares in the world's largest fertilizer company  NTR.TO 
 NTR.N  up 4.5% premarket 
    ** Co raises earnings forecast well above analysts'
estimates as it benefits from soaring prices of crop nutrients 
    ** Expects 2022 adj. EPS of $16.20 to $18.70 vs previous
forecast of $10.20 to $11.80 per share. Analysts expect $15.20
per share, as per Refinitiv data  urn:newsml:reuters.com:*:nL3N2WU27V
    ** Prices of essential crop nutrients such as potash and
phosphate have skyrocketed this year as sanctions imposed on
major exporter Russia for its invasion of Ukraine have disrupted
supplies 
    ** Rival Mosaic  MOS.N , the world's largest producer of
finished phosphate products, falls 1.4% after quarterly profit
only narrowly beats estimates
    ** Intrepid Potash  IPI.N  up 4.8%, CF Industries  CF.N 
untraded
    ** The S&P 500 materials index  .SPLRCM  hit a record high
in early January, but has fallen about 10% since hitting those
levels
    ** NTR up 31.9% YTD, MOS +59%, IPI +76.6%, CF +36.2%

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