Nutrien Lifts FY Guidance

(RTTNews) - Canada-based agricultural company, Nutrien Ltd. (NTR), increased its full-year outlook after turning to profit in the third quarter on improved revenues. On an adjusted basis, the company forecast earnings of $5.85 to $6.10 per share with net income before taxes in the range of $6.90 billion to $7.10 billion. In the prior guidance, Nutrien expected earnings before taxes between $6.0 billion to $6.4 billion with adjusted earnings of $4.60 to $5.10 per share. On average 18 analysts polled by Thomson Reuters expect the earnings to be $5.16 per share. Mayo Schmidt, Nutrien’s President, and CEO said, "We are raising full-year 2021 adjusted earnings guidance and expect this positive momentum to continue into 2022. We expect to generate significant free cash flow and to meaningfully strengthen our balance sheet through debt reduction, providing flexibility to deliver on future growth opportunities and return cash to shareholders."