Nutrien NTR-T beat first-quarter profit estimates on Wednesday, on strong demand from North America owing to early planting and lower inventory.
An early start to spring planting season in the region helped fertilizer demand, according to RBC Capital Markets analysts.
Adjusted core profit at Nutrien Ag Solutions, the company’s retail segment, was up at $77 million in the reported quarter, compared with an adjusted core loss of $34 million a year ago.
The world’s biggest fertilizer producer reported an adjusted profit of 46 cents per share for the quarter ended March 31, compared with analysts’ average estimate of 39 cents per share, according to LSEG data.