Nutrien (NTR) delivered earnings and revenue surprises of 27.78% and 0.25%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?
SASKATOON, Saskatchewan, May 08, 2024--Nutrien Ltd. (TSX and NYSE: NTR) announced today the results of its annual meeting of shareholders held on May 8, 2024 (the "Meeting"). A total of 369,251,444 common shares, representing 74.66% of common shares outstanding, were represented at the Meeting.
Nutrien, the world's biggest fertilizer producer, beat first-quarter profit estimates on Wednesday, on strong demand for crop nutrients from North America owing to early planting and lower inventory. Adjusted core profit at Nutrien Ag Solutions, the company's retail segment, was at $77 million in the reported quarter, compared with an adjusted core loss of $34 million a year ago. Quarterly sales volumes for crop nutrients, its biggest segment, was at 1.46 million tonnes in North America, up 22.5% from a year ago.