Stronger-than-expected retail pricing and softer-than-expected fertilizer volumes defined the quarter.
Potash and salt miner K+S reiterated its full-year profit guidance on Thursday, as it expects higher fertiliser prices to offset the impact of a potential gas shortage in Germany. This scenario assumes a 25% reduction in natural gas availability in the fourth quarter, which together with a new gas levy would lead to a cost burden in a low-triple-digit million euro range, CEO Burkhard Lohr said in a statement. For now, the company expects the gas shortage to only affect its final quarter and early 2023, not the entirety of next year, Lohr told analysts in a call.
(Bloomberg) -- Nutrien Ltd. named Ken Seitz as its new chief executive officer, months after a boardroom shakeup at the world’s largest fertilizer maker.Most Read from BloombergFBI Raid Focused on Material Trump Brought from White HouseChina Seizes on Pelosi Visit to Set ‘New Normal’ for TaiwanSan Francisco ‘Froth is Gone’ as Wealth Fades, Housing SlumpsS&P 500 Finishes Lower After Wiping Out 1% Rally: Markets WrapSeitz was named interim CEO in January after former CEO Mayo Schmidt made a surpri