Nutrien’s shares fell 3.7% after the earnings release, primarily driven by cautious nitrogen market outlook and deceleration in global urea prices during a seasonally weak demand period exacerbated by geopolitical uncertainty.
- Adjusted EBITDA reached $2.4 billion in Q2 and $3.5 billion in H1 2026, up 6% year-over-year.
- Potash volumes hit record levels, with controllable cash costs flat YoY and automation enabling cost discipline.
- Proprietary crop nutrients gross margin grew 10%, supported by targeted capacity expansions despite softer overall fertilizer demand.
- Nitrogen segment faced price softness in Q2 due to seasonal factors and geopolitical disruptions, though the North American assets remain cost advantaged.
- Continued portfolio optimization with $1 billion in gross proceeds generated from asset divestitures since late 2024; strategic reviews underway for phosphate and other segments.
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