OTTAWA (dpa-AFX) - Fertilizer company Nutrien Ltd. (NTR) on Thursday reported lower third-quarter profit, reflecting weaker gross margin and higher operating expenses, while revenue edged higher. The company also announced plans to shut down its White Springs phosphate facility in 2027 and completed a strategic review of its phosphate business.
Net earnings declined to $284 million, or $0.60 per share, from $464 million, or $0.96 per share, in the year-ago quarter.
Third-quarter sales increased to $6.064 billion from $6.007 billion.
As part of its phosphate business review, Nutrien decided to retain and further optimize its Aurora and integrated upgrade facilities after determining that non-binding bids received did not adequately reflect their long-term value. The company will shut down its White Springs facility in the second quarter of 2027 as the mine approaches the end of its economically recoverable reserve life.
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