Nutrien fell short of Wall Street expectations for first-quarter profit on Wednesday, as the top potash producer was impacted by lower prices and higher energy costs.
Trade tensions between the United States and China following US President Donald Trump’s tariffs have led to volatility in crop prices over the past few months, prompting farmers to reign in costs, which in turn has hit demand for fertilizers.
Its quarterly net selling price for potash in North America fell 21.6% from a year earlier to $243/t, while adjusted core profit for the segment was down about 16% at $446-million.
Higher energy costs in its nitrogen segment further pressured earnings in the quarter, which raised its cost of goods sold by about 10% at $663-million.
Adjusted core profit fell about 12% to $408-million.
Average natural gas prices have risen over the past few quarters and hit a two-year high on March 10,…
