Nutrien is reporting $1.4 billion U-S dollars in net earnings, and $2.6 billion in earnings before interest, taxes and amortization.
Ken Seitz, Nutrien’s Interim President and CEO says global agriculture and crop input markets are being impacted by a number of unprecedented supply disruptions that have contributed to higher commodity prices and escalated concerns for global food security.
A key impact is the ongoing war between Russia and the Ukraine, and the sanctions imposed on Russia, one of the top six biggest fertilizer exporters in the world.
Seitz notes the situation emphasizes the need for long-term solutions that support a sustainable increase in global crop production.
With that in mind, Nutrien announced plans in March to increase potash production by nearly one million tonnes due to the global uncertainty.
Nutrien operates six potash mines in Saskatchewan, and is considered the world’s largest provider of crop inputs and services, producing and distributing about 27 million tonnes of potash, nitrogen and phosphate products world-wide.
You can view Nutrien's first quarter financial statements here.