Nutrien Ltd., Saskatoon, announced 2018 third-quarter results, with net loss from continuing operations of $1.1 billion on sales of $4 billion, up from a year-ago combined loss of $53 million on sales of $3.59 billion. The results reflected the $1.8 billion non-cash impairment on the New Brunswick, N.B. potash facility as well as a $151 million gain on an adjustment to pension and retirement benefit plans.
“In the third quarter, Nutrien delivered solid operating results,” said Chuck Magro, Nutrien president and CEO. “Retail earnings increased by 10 percent year-over-year while our nutrient production operations reported higher volumes, margins and significantly lower costs. We also made significant advances on our strategic priorities including raising the dividend and our synergy target, completing our share repurchase program and closing the sale of our stake in Arab Potash Co. (APC). We remain on track to receive $5 billion in net proceeds from the sale of our equity investments. Nutrien has also raised its annual guidance due to the strength of market fundamentals and acceleration of merger synergies. We continue to be well positioned to deliver strong long-term shareholder returns.”