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Last week, MAP (monoammonium phosphate) prices mimicked the movements in DAP (diammonium phosphate) prices, which fell week-over-week, as we discussed earlier.
MAP (monoammonium phosphate) prices last week were broadly negative, which was similar to the weakness in DAP (diammonium phosphate) prices last week that we discussed in the earlier part of this series.
Moody's Investors Service assigned a Prime-2 commercial paper rating to Nutrien Ltd. (Nutrien). Moody's also affirmed Nutrien's issuer rating at Baa2. The rating outlook is stable. The commercial paper ...
The Indian cabinet on Wednesday slashed subsidies for potash-based fertiliser by more than 10 percent for the next fiscal year beginning April 1, as the world's leading importer of the crop nutrient tries to contain a fiscal deficit. The reduction in government support could lead to a higher retail price for the farmers and potentially dent consumption and imports. Global producers including Uralkali, Potash Corp of Saskatchewan, Mosaic, K+S, Arab Potash and Israel Chemicals are key suppliers to India.
Indian cabinet on Wednesday slashed subsidies for potash-based fertiliser by more than 10 percent for the next fiscal year beginning April 1, as the world's leading importer of the crop nutrient tries ...
After the earnings were released, the stock price took a significant beating. Out of the 18 analysts in the above chart, ~22% or four analysts have a “strong buy” recommendation on the stock for the next 12-month period. About 39% or seven analysts have a “buy” recommendation on the stock, while 39% or seven analysts have a “hold” recommendation for Nutrien.
According to Mosaic, the margin expansion was due to higher realized prices, which we discussed earlier, and lower input costs such as phosphate rock costs. Agrium’s gross margins took a hit as a result of a higher input cost of phosphate rock and sulfur.
Israel Chemicals (ICL) reported on Wednesday higher revenue and profit in the fourth quarter, beating expectations as potash prices rose and expenses fell at the world's sixth-largest producer of the fertiliser ingredient. ICL, which also produces about a third of the world's bromine, said it earned $142 million excluding one-time items in the fourth quarter, compared with $114 million a year earlier. Analysts had forecast ICL to earn $100 million, according to Thomson Reuters I/B/E/S.
Moody's Investors Service ("Moody's") assigned a Baa2 issuer rating to Nutrien Ltd. (Nutrien), confirmed the Baa2 unsecured ratings of Agrium Inc. (Agrium), lowered the unsecured ratings of Potash ...
Nutrien, the world's biggest fertilizer company by capacity, also said higher input costs would shrink nitrogen and phosphate margins. The company, reporting its first results since the merger, said it expects full-year earnings before interest, taxes, depreciation and amortization of $3.2 billion to $3.7 billion, and earnings per share of between $2.10 and $2.60. Chief Executive Chuck Magro said that following the merger, the company achieved $40 million in run-rate synergies and was "focused on capturing half a billion dollars" in annual merger synergies by the end of 2019.
Nutrien Ltd, created from the merger of fertilizer makers Agrium Inc and Potash Corp of Saskatchewan this year, said it expected full-year 2018 EBITDA of $3.2 billion to $3.7 billion. Nutrien also said fourth-quarter net earnings for Agrium fell to $18 million, or 13 cents per share, in the fourth quarter ended Dec 31 from $67 million, or 49 cents per share, a year earlier. Potash Corp reported a net loss from continuing operations of $120 million, or 14 cents per share, from a profit of $13 million, or 2 cents per share, a year earlier.
For the 52nd week of 2017 (ended December 30), Canadian Pacific Railway (CP) witnessed a 9.1% fall in its carload traffic. CP’s fall in carload traffic was steeper than the decline posted by US railroads overall, but compared with Canadian railroads’ freight volume loss, CP’s carload traffic loss was on par.
Announcement: Moody's says despite merger, rating review of Agrium and Potash will continue until additional information obtained. Global Credit Research- 02 Jan 2018. New York, January 02, 2018-- Moody's ...
Earlier, we discussed major agribusiness companies’ earnings, which have mostly fallen over the years. In 2018, their earnings are expected to rise. As shown in the above chart, agribusiness companies’…...
In addition to the regulatory approval from the US (MOO), this merger has also received approval from Canada, Russia, India, China, and Brazil.