All posts by Steve Seay

Nutrien 4Q Exceeds Expectations

Nutrien Ltd. reported fourth-quarter net income of $316 million, up from a year-ago loss of $48 million. The results also exceeded the Bloomberg Consensus of $93 million, which is the average estimate from major analysts. Nutrien also beat analyst projections for the year, posting net income of $459 million, versus $227 million. However, results were below the year-ago $992 million.

Mosaic Beats Analyst Estimates

The Mosaic Co. reported fourth-quarter net income of $828 million, up from the year-ago loss of $921 million, and also besting the Bloomberg Consensus $68 million, the average estimate by major analysts. In addition, the company posted an 80 percent uptick in potash sales to 2.7 million mt from the year-ago 1.5 million mt.

Nutrien Borger Plant Offline

Nutrien Ltd. reports that it has taken down its Borger, Texas, nitrogen plant as a result of gas interruptions. The Geismar, La., plant is running but the company is closely monitoring gas supply for possible disruptions. Nutrien’s Aurora and White Springs phosphate sites are running without disruption, however, the feed operations have been affected by the weather.

Nutrien’s Canadian operations plants are currently running with the exception of the nitrogen plant in Fort Saskatchewan, where the company has moved up an outage that was originally planned for Q2 to address a few freeze-up issues.

Compass Income Down

Compass Minerals reported lower earnings for both the fourth-quarter and year-ending Dec. 31, 2020, citing improved salt margins, whereas Plant Nutrition North America saw higher short-term costs. The North American fertilizer unit reported a fourth-quarter sales volume uptick of 23 percent, however, prices were off 6 percent. North American fertilizer operating earnings declined for both the quarter and year.

PCI Nitrogen Complex Offline Due to Weather

PCI Nitrogen announced Feb. 16 that on Feb. 13 in order to supply additional power to the Houston electric grid through its cogeneration facility, it elected to shut down ammonium sulfate production. On Feb. 15 due to the historical cold temperatures, the company was forced to shut all production at the facility which includes ammonium sulfate, sulfuric acid, ammonium thiosulfate and power production. 

As of Feb. 16, the company said it is unable to say when the facility will return to normal operations and will depend on the weather moderating and raw material supply normalizing.