Nutrien Ltd. says it had record earnings in the second quarter and has raised its full-year outlook as it expects strong crop prices to increase demand for its services.
The Saskatoon-based fertilizer and crop services giant, which reports in U.S. dollars, says it earned US$1.1-billion in the quarter ending June 30, up from $765-million in the same quarter last year.
Post-tax adjusted net earnings were $1.19-billion, or $2.08 per diluted share, compared with $824-billion or $1.45 for the same quarter last year.
Consolidated net sales came in at $9.54-billion, compared with $8.18-billion last year.
Analysts on average had expected adjusted net earnings of $2.09 cents a share and net sales of $9.55-billion, according to financial data firm Refinitiv.
The company has raised its adjusted net earnings guidance for the year from a range of $2.55 to $3.25 a share to $4.60 to $5.10 a share.
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