All Posts from February 9, 2017

Agrium 4Q income off 66 percent

Agrium Inc. announced today its 2016 fourth quarter results, with a net earnings to equity holders of Agrium of $67 million ($0.49 diluted earnings per share) compared to net earnings of $201 million ($1.45 per share) in the fourth quarter of 2015. The reduction in net earnings was driven primarily by lower year-over-year nutrient pricing.

On an annual basis, 2016 earnings were $592 million ($4.29 per share) compared to $988 million ($6.98 per share) in 2015.

“Agrium continued to deliver solid results across our business this quarter, supported by record fourth quarter results in our Retail business and strong wholesale operating performance,’ said President and CEO Chuck Magro. “We delivered on our promise of value-added growth in 2016 by successfully bringing our Borger expansion to completion and growing retail at a record pace through acquisitions. We have been encouraged by the recent firming in global nutrient markets and we anticipate solid demand for crop inputs in the coming spring application season.”

Yara 4Q income dips

Yara International ASA reported fourth-quarter net income after non-controlling interests of negative NOK 333 million (NOK 1.22 per share), compared with a positive NOK 434 million (NOK 1.58 per share) a year earlier.

“Yara reports a weaker result than a year earlier, reflecting lower fertilizer prices as the global nitrogen price floor was tested during the quarter,” said President and CEO Svein Tore Holsether. “But our operational performance improved significantly, with fertilizer sales and production up 15 percent and 11 percent, respectively.”