Nutrien Stock Price, News & Analysis

Nutrien (TSX and NYSE: NTR) has announced the release date for its second quarter 2024 financial results. The company will publish its earnings report after market close on Wednesday, August 7, 2024. Following the release, Nutrien will host a conference call on Thursday, August 8, at 10:00 a.m. EDT to discuss the results and provide an outlook.

Investors can participate in the call by dialing 1-289-514-5100 or 1-800-717-1738. A webcast will also be available on Nutrien's website. For those unable to attend, a recording of the call will be accessible until November 6, 2024, by dialing 1-888-660-6264 and using the conference ID 67773#.

Nutrien (NTR) has priced an offering of US$1 billion in senior notes. The offering includes US$400 million of 5.200% notes due June 21, 2027, and US$600 million of 5.400% notes due June 21, 2034. This offering, closing around June 21, 2024, is aimed at repaying US$500 million of 5.900% notes maturing on November 7, 2024, reducing short-term debt, and financing general corporate purposes. The senior notes are unsecured and will rank equally with Nutrien's existing senior unsecured debt. The joint book-running managers are CIBC World Markets Corp., Goldman Sachs, J.P. Morgan Securities, and RBC Capital Markets.

The offering will be made through a prospectus supplement dated June 17, 2024, to Nutrien's short form base shelf prospectus filed on March 22, 2024, with regulatory authorities in Canada and the U.S. under the multijurisdictional disclosure system.

Nutrien is hosting an Investor Day at the New York Stock Exchange to outline its strategic priorities and 2026 targets. CEO Ken Seitz announced plans to simplify the portfolio, focus on core assets, and enhance earnings quality and free cash flow. Key initiatives include prioritizing investments in North American fertilizer production and global distribution networks, reviewing their stake in Profertil, and halting the Geismar clean ammonia project. Nutrien aims for 2-3 million tonnes potash and nitrogen sales volume growth by 2026, targeting $1.9 to $2.1 billion in Retail adjusted EBITDA, and intends to cut controllable costs by $200 million. Capital expenditures are projected to be $2.2 to $2.3 billion annually through 2026. The company also plans to modernize and consolidate its North American retail network and improve margins in Brazil.

Nutrien (NTR) revealed that Ken Seitz, the President and CEO, will speak at the BMO Farm to Market Conference on May 16th. The fireside chat will be available for viewing on the Company's website.

Nutrien announced the results of its 2024 annual meeting where 12 director nominees were elected, auditors were re-appointed, and the advisory vote on executive compensation was approved. The meeting saw high percentages of votes in favor of all matters.

Nutrien (TSX and NYSE: NTR) declared a quarterly dividend of US$0.54 per share, payable on July 19, 2024, to shareholders of record on June 28, 2024. The dividend will be paid in either US dollars or Canadian dollars based on the shareholder's location and account type. Registered shareholders can elect to change the currency of their dividend payments and enroll for direct deposit. All dividends are designated as eligible dividends under the Income Tax Act (Canada).

Nutrien reported strong first quarter 2024 results with net earnings of $165 million and adjusted EBITDA of $1.1 billion. The company experienced increased potash shipments, higher fertilizer operating rates, and lower costs, supporting its performance. Despite lower fertilizer selling prices, Retail adjusted EBITDA increased to $77 million due to strong crop input demand. Potash adjusted EBITDA declined to $530 million, while nitrogen adjusted EBITDA was $464 million. Initiatives to divest Retail assets in certain regions aim to focus on core businesses and enhance earnings and cash flow.