CVR Partners LP reported a 24 percent uptick in fourth-quarter volumes, with total ammonia/UAN volumes at 439,000 st up from the year-ago 355,000 st. However, prices were off for both products. CVR’s net loss for the quarter was $16.9 million, down from the year-ago $24.9 million.
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Martin Doubles Sulfur/Fertilizer Income in 2020
Martin Midstream Partners LP, Kilgore, Texas, reported operating income of $29 million for the year-ending Dec. 31, 2020 for the Sulfur Services segment, which includes both its sulfur and fertilizer businesses, whereas year-ago results were $14 million. Fertilizer volumes were up slightly while sulfur tons were down from 2019 levels.
Zuari Board Approves Goa Sale to PPL
The Zuari Agro Chemicals Ltd. Board of Directors on Feb. 22 announced it has approved the sale of the company’s nitrogen and NPK fertilizer plant at Goa and associated businesses to Paradeep Phosphates Ltd. (PPL) for an agreed enterprise value of $280 million. The board approved the sale in-principle last summer (GM June 26, 2020).
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.
CF 4Q Income Up
CF Industries Holdings Inc. reported fourth-quarter net income of $87 million, surpassing the year-ago $55 million as well the Bloomberg Consensus of $25 million, the average estimate from major analysts.
Mosaic Beats Analyst Estimates
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.
The Andersons Beat Estimates
The Andersons reported adjusted earnings per share for the fourth quarter that beat the average analyst estimate. Adjusted EPS was $0.59 versus the Bloomberg Consensus analyst estimate of $0.49; year-ago was $0.55. Fourth-quarter fertilizer volumes were up in all categories.
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.