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BRIEF-Nutrien Reports Solid Q3 Operating Results, Raises 2018 Guidance

Published 2018-11-05, 06:40 p/m
© Reuters.  BRIEF-Nutrien Reports Solid Q3 Operating Results, Raises 2018 Guidance
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Nov 5 (Reuters) - Nutrien Ltd NTR.TO :

* NUTRIEN REPORTS SOLID 3RD QUARTER OPERATING RESULTS; RAISES 2018 GUIDANCE, DIVIDEND AND SYNERGY TARGET

* INCREASES QUARTERLY DIVIDEND BY 7.5 PERCENT

* DECLARED A QUARTERLY DIVIDEND OF US$0.43 PER SHARE

* NUTRIEN - RAISED 2018 GUIDANCE RANGE FOR POTASH SALES VOLUMES TO 12.5 MILLION TO 13.0 MILLION TONNES

* QTRLY NET LOSS PER SHARE FROM CONTINUING AND DISCONTINUED OPERATIONS $1.70

* NUTRIEN - INCREASED BOTTOM END OF 2018 POTASH ADJUSTED EBITDA GUIDANCE RANGE FROM $1.4 BILLION TO $1.5 BILLION

* Q3 LOSS PER SHARE $1.74 FROM CONTINUING OPERATIONS

* 2018 NITROGEN EBITDA GUIDANCE HAS BEEN RAISED TO $1.15 BILLION TO $1.25 BILLION

* REMAIN ON TRACK TO RECEIVE $5 BILLION IN NET PROCEEDS FROM SALE OF OUR EQUITY INVESTMENTS

* INCREASING 2018 ADJUSTED NET EARNINGS GUIDANCE TO $2.60 TO $2.80 PER SHARE

* QTRLY SALES $4,034 MILLION VERSUS $1,234 MILLION

* ADJUSTED NET EARNINGS GUIDANCE FOR Q4 OF 2018 IS $0.46 TO $0.66 PER SHARE

* Q3 REVENUE VIEW $3.80 BILLION -- THOMSON REUTERS I/B/E/S

* EXPECT AN INCREASE IN NORTH AMERICAN CORN ACRES RELATIVE TO SOYBEANS, WHICH WOULD BE POSITIVE TO OVERALL CROP INPUT EXPENDITURES

* NUTRIEN - SEES 2018 SUSTAINING CAPEX $$1.0 BILLION TO $1.1 BILLION

* EXPECT GLOBAL NITROGEN SUPPLY/DEMAND BALANCE WILL REMAIN TIGHT INTO 2019

* NUTRIEN - QTRLY ADJUSTED NET EARNINGS EXCLUDE A NEW BRUNSWICK POTASH NON-CASH IMPAIRMENT OF $1.8 BILLION ($2.15 PER SHARE)

* QTRLY ADJUSTED NET EARNINGS EXCLUDE GAIN ON ADJUSTMENT OF PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS OF $151 MILLION ($0.18 PER SHARE)

* NUTRIEN - "U.S. SOYBEAN PRICES HAVE BEEN PRESSURED BY RECORD DOMESTIC YIELDS AND CONTINUED UNCERTAINTY AS A RESULT OF U.S. TRADE DISPUTE WITH CHINA"

* NUTRIEN - RAISED 2018 GLOBAL POTASH SHIPMENT FORECAST TO A RANGE OF 66 TO 67 MILLION TONNES

* RAISING GUIDANCE ON ANNUAL RUN-RATE SYNERGY TARGET TO $600 MILLION BY END OF 2019

* NUTRIEN SAYS FOR POTASH, EXPECT THAT CAPACITY CURTAILMENTS AND PERMANENT CLOSURES IN 2018 WILL MATCH OR EXCEED NEW PRODUCTION CAPABILITY

* NUTRIEN-DOWNSTREAM INVENTORIES IN MAJOR GLOBAL POTASH MARKETS REMAIN RELATIVELY TIGHT, WHICH IS SUPPORTIVE OF SUSTAINED DEMAND IN LATE 2018 & EARLY 2019

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