Agrium Inc. reported net earnings of $99 million ($0.66 per diluted share) on sales of $2.87 billion for the fourth quarter ending Dec. 31, 2013, compared to the year-ago $354 million ($2.34 per share) on sales of $3.1 billion.
“Agrium’s Retail results were excellent this quarter, particularly considering the decline in nutrient prices that occurred and the compressed fall application season in the U.S.,” said Chuck Magro, Agrium president and CEO. ‘Retail achieved record fourth quarter results due to increased margins across almost all shelves. Our Wholesale business unit, which has more direct exposure to volatility in nutrient markets, saw their results impacted by lower global prices across all nutrients. Global nitrogen and phosphate markets have firmed significantly in early 2014 in response to what we expect will be a strong spring season.”
Full-year earnings were $1.06 billion ($7.20 per share) on sales of $15.7 billion down from 2012’s $1.5 billion ($9.56 per share) and $16 billion, respectively.