Nutrien misses Q3 profit estimates on high sulfur costs, to close Florida plant (updated)

Nutrien

04/11/2026 21:44

Adds analyst comment, net earnings comparison, and carrying value impairment details for White Springs and Trinidad facilities
By Khusbu Jena
Nov 4 (Reuters) - Canadian fertilizer producer Nutrien NTR.TO missed Wall Street expectations for third-quarter profit on Wednesday, weighed down by surging sulfur input costs in its phosphate segment and lower nitrogen sales volumes.
Following a strategic review, Nutrien said it will optimize its core Aurora operations and shut its higher-cost White Springs facility in Florida in the second quarter of 2027 as the mine's reserves near depletion. 
The company expects fourth-quarter impairment charges against the White Springs carrying value of $430 million, as well at its idled Trinidad nitrogen operations with a carrying value of $760 million.
"Nutrien's results reflect weak North America fertilizer demand amid higher fertilizer prices as well as higher costs in nitrogen and phosphate," said Seth Goldstein, senior equity analyst at Morningstar. 
"However, management's focus on improved free cash flow generation is evident through the closure of a higher-cost phosphate operation and more efficient capital expenditure investment," Seth added.
Phosphate adjusted EBITDA plunged 93% to $8 million as cost of goods sold jumped to $939 per tonne due to sulfur inflation. Nitrogen adjusted EBITDA fell 11% to $497 million as sales volumes dropped 16.7% to 2.35 million tonnes. 
Nutrien raised the lower end of its full-year potash volume target to 14.3-14.8 million tonnes, but lowered full-year Retail adjusted EBITDA guidance to $1.72-$1.85 billion and trimmed capital expenditures to $1.95-$2.00 billion.
Net earnings tumbled 39% to $288 million, while total sales edged up 1% to $6.06 billion as firmer nutrient prices helped counter lower shipment volumes. 
The Saskatoon-based company posted adjusted earnings of 61 cents per share for the quarter ended September 30, missing analysts' average estimate of 80 cents per share, according to LSEG data. 
     
     
     
     

 (Reporting by Khusbu Jena and Vallari Srivastava in Bengaluru; Editing by Leroy Leo and Shailesh Kuber)
 ((Khusbu.Jena@thomsonreuters.com;))