REUTERS — North American nitrogen fertilizer producers Agrium Inc. and CF Industries last week reported higher second-quarter profits after markets closed.
Agrium’s quarterly profit beat expectations for the Canadian company, while earnings for Illinois-based CF matched the average estimate.
Agrium’s net earnings from continuing operations for the second quarter rose to $675 million from $625 million a year ago.
Agrium sales fell to $6.99 billion from $7.3 billion, versus expectations for $7.3 billion.
Agrium, however, lowered the top end of its 2015 profit forecast to a range of $7 to $7.50 from $7 to $8.25 per share, due to the impact of low crop prices on farmers, and second-half potash and phosphate prices that are expected to be lower than previous guidance.
CF’s net earnings rose to $352 million from $313 million or $1.22 per share a year earlier.
