Nutrien Ltd. announced a fourth-quarter net loss
from continuing operations of $48 million versus the positive year-ago $296
million. The company said the results were caused by the impact of a temporary
slow down in global fertilizer demand that more that offset a strong
performance by Retail.
The company said 2019 net earnings from continuing operations increased to $992 million from the year-ago loss of $31 million due to solid operational results, the continued benefit of merger related synergies and operational improvements and a non-cash impairment of the New Brunswick potash facility in 2018.
“Agriculture fundamentals are strengthening and grower sentiment is positive. We expect higher planting and favorable farm economics to support strong North American crop input demand in 2020,” said Chuck Magro, Nutrien President and CEO.
The International Fertilizer Association’s (IFA) Director
General, Charlotte Hebebrand’s tenure in the position will come to an end as of
May 1, in order for her to return to North America to assume a new post as EVP
at Nutrien Ltd., pending work authorization from immigration authorities.
Hebebrand joined IFA in September 2012.
IFA’s Senior Director of the Agriculture Service, Patrick
Heffer, will serve as interim Director General as of May 1. In the meanwhile,
IFA’s Executive Board is about to select a search firm with the objective of
selecting a new DG in July.
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