The company expects the lower potash earnings would be more than offset by stronger expected retail earnings.
Nutrien said the adjusted net earnings per share guidance included about $4 billion in share repurchases in 2022.
Nutrien sees potash shipments from Belarus falling 50 to 60% and Russia down 20 to 25% in 2022 compared to the prior year. It, therefore, lowered its global potash shipment forecast to between 60 and 62 million tonnes in 2022, mainly owing to the impact of higher-than-expected inventory and cautious buying in North America and Brazil during the second half of 2022.
It also lowered nitrogen sales volume guidance to reflect the impact of Trinidad gas curtailments during the second half of 2022.
Total potash sales volumes dropped 16% year-on-year to 3.2 million tonnes, reflecting a 59% drop in the critical North American market.
Notwithstanding, Nutrien reported that third-quarter sales improved 36% year-on-year to…
