Nutrien Ltd. reported third‑quarter 2025 results that surpassed consensus expectations, delivering net earnings of $464 million and diluted earnings per share of $0.96. Revenue reached $6.01 billion, a $0.23 billion (3.9%) beat on a $5.78 billion consensus estimate, while adjusted EBITDA climbed to $1.40 billion and adjusted EPS rose to $0.97.
The earnings beat was driven by record upstream fertilizer sales volumes, higher net selling prices in the Potash and Nitrogen segments, and improved operational reliability. Retail earnings grew as operating expenses fell and proprietary product margins expanded. Lower capital expenditures and a disciplined cost‑control program helped preserve profitability, and the company returned $1.2 billion to shareholders in the first nine months of 2025.
Segment performance highlights that Potash and Nitrogen sales volumes were up sharply, supported by higher net selling prices and a favorable mix shift toward higher‑margin products. Retail earnings benefited from lower operating costs and a stronger gross margin on proprietary products, offsetting any pressure from lower commodity volumes.
Compared with the same quarter last year, Nutrien’s net earnings jumped from $25 million to $464 million, and diluted EPS rose from $0.04 to $0.96. Adjusted EBITDA increased from $1.00 billion to $1.40 billion, underscoring the company’s ability to scale revenue while maintaining margin.
Strategically, Nutrien announced a review of its Phosphate business, a controlled shutdown of the Trinidad Nitrogen facility, and the sale of its 50 % stake in Profertil S.A. for approximately $0.6 billion. The company reaffirmed its 2025 global potash shipment forecast of 73 to 75 million tonnes and maintained its guidance for continued earnings growth and cash‑flow strength.
Ken Seitz, Nutrien’s President and CEO, said the quarter demonstrated “structural earnings growth through record upstream fertilizer sales volumes, improved reliability, and higher Retail earnings.” He added that the company is “progressing strategic initiatives and simplifying its portfolio to enhance earnings quality and free‑cash‑flow generation.”
Investors responded positively to the earnings beat and the announcement of the phosphate business review, reflecting confidence in Nutrien’s operational execution and its focus on portfolio simplification.
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