Nutrien (NYSE: NTR) reported Q1 EPS of $0.46, $0.06 better than the analyst estimate of $0.40. Revenue for the quarter came in at $5.39 billion versus the consensus estimate of $5.26 billion.

GUIDANCE

Financial and Operational Guidance

We are maintaining our Retail adjusted EBITDA and fertilizer sales volume guidance ranges as market fundamentals and operational performance have been in line with our previous expectations.

Retail adjusted EBITDA guidance of $1.65 to $1.85 billion reflects expectations for increased crop nutrient sales volumes and margins for our North American business in the first half of 2024 and improved crop input margins in Brazil during the second half of the year. Guidance assumes a full year of earnings from our Retail assets in Argentina, Chile and Uruguay.

Potash sales volumes guidance of 13.0 to 13.8 million tonnes assumes a more even split between first and second half volumes compared to the prior year. Nitrogen sales volumes guidance of 10.6 to 11.2 million tonnes assumes higher operating rates at our North American and Trinidad plants and growth in sales of upgraded products such as urea and nitrogen solutions.

Effective tax rate on adjusted earnings guidance was lowered primarily due to a change to our expected geographic mix of earnings.

For earnings history and earnings-related data on Nutrien (NTR) click here.