Nutrien Stock Earnings Reports

Nutrien reported strong operational and financial performance through the first nine months of 2025: third-quarter adjusted EBITDA was $1.4 billion (up 42% year-over-year) driven by record potash sales volumes, improved nitrogen reliability (94% ammonia utilization YTD), and higher retail earnings. Management raised full-year potash sales guidance to 14.0–14.5 Mt and maintained the midpoint of retail adjusted EBITDA guidance ($1.68–1.82B). Company actions include achieving cost-reduction targets a year early (on track for $200M), lowering YTD capex ~10% with full-year guidance ~$2.0–2.1B, and executing ~$900M of expected gross proceeds from noncore asset divestitures to be allocated to growth, buybacks and debt reduction. Nutrien repurchased shares at ~ $45M/month through the first nine months and expects to continue ratable buybacks while maintaining a stable/growing dividend. Management initiated a strategic review of the Phosphate business (options include reconfiguration, partnerships or sale) with expected conclusions in 2026, and completed a controlled shutdown of Trinidad nitrogen operations because of unreliable/economic gas supply and port access (Trinidad represented ~1% of consolidated free cash flow in 2025). Market outlook: constructive for 2026 with potash shipments forecast at 74–77 Mt (reflecting continued demand growth and limited new supply), tight ammonia/urea markets due to outages and delays, and generally supportive farm demand given large nutrient removals from a record crop and low channel inventories (notably in China). Management reiterated capital-allocation priorities: sustain operations, selective growth, debt reduction, and ratable share repurchases while targeting a mid-cycle adjusted net debt/EBITDA around ~1.5x and a trough ceiling near ~2.5x.