Agrium Profit Falls, Yet Tops Estimate; Outlook Weak

(RTTNews) - Crop nutrients producer Agrium Inc (AGU, AGU.TO) Monday reported third-quarter net earnings of $50 million or $0.35 per share compared with $76 million or $0.52 per share last year.

Excluding items, adjusted earnings for the quarter were $0.60 per share.

Revenues for the quarter were $2.92 billion compared with $2.8 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.50 per share on revenues of $2.97 billion for the quarter. Analysts' estimates typically exclude special items.

Agrium plans to increase its dividend by four percent, or $0.12 per share to a total dividend of $3.12 per share on an annualized basis.

Looking ahead to the fourth quarter, the company expects adjusted earnings of $0.45 to $0.75 per share, while analysts expect $0.75 per share.