Agrium reports 1Q results
Agrium Inc. reported a 9 percent drop in net income for the first quarter ending March 31, 2012 from the year-ago quarter. Net earnings were $155 million ($0.97 per diluted share) on sales of $3.63 billion, down from the year-ago $171 million ($1.09 per share) on sales of $2.95 billion.
First quarter 2012 results included a pre-tax loss of $13 million ($0.06 per share) on natural gas and other hedge positions and a pre-tax share-based payment expense of $64 million ($0.29 per share). Excluding these items, net earnings would have been $210 million ($1.32 per share) for the quarter.