EarningsQ2 2026 Earnings Report
MX:NTRN Q2 2026 EPS Results
Actual EPS$46.49
Consensus EPS$48.40
Beat/MissMissed by -$1.91
One Year Ago EPS$46.33
MX:NTRN Q2 2026 Revenue Results
Actual Revenue$190.13B
Expected Revenue$188.44B
Beat/MissBeat by +$1.70B
YoY Revenue Growth+3.56%
Earnings Announcement Details
QuarterQ2 2026
Date08/05/2026
TimeAfter Close
Conference CallWednesday, August 5, 2026
MX:NTRN Upcoming Earnings
Nutrien's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:NTRN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a generally positive tone: the company achieved record potash volumes, modest EBITDA growth (+6% H1), stronger cash flow (+12% H1), successful operational execution (automation, major turnaround), and increased shareholder returns (capex reduction and stepped-up buybacks). Offsetting items include notable weakness in phosphate margins from soaring sulfur costs, lower retail fertilizer volumes (phosphate down ~10%, nitrogen down ~7% in downstream), higher retail SG&A (fuel/fleet), seed profit weakness, and continuing geopolitical and weather-related market uncertainties. On balance, the strengths in operations, cash generation and capital allocation outweigh the challenges described.Company Guidance
Strong Financial Performance
Second quarter adjusted EBITDA of $2.4 billion and first half adjusted EBITDA of $3.5 billion (up 6% year-over-year); cash provided by operating activities increased 12% in the first half.
Record Potash Volumes and Improved Cost Position
Delivered record potash sales volumes in H1 2026; raised the bottom end of 2026 potash sales volumes guidance to 14.2–14.8 million tonnes; controllable cash cost of product manufactured for potash was flat year-over-year with a full‑year target below $60/tonne.
Automation and Operational Efficiency
Mined 53% of ore tonnes using automation in H1 (exceeding the top end of 2024 Investor Day target), enabling higher productivity, optimized capital expenditure needs and improved safety outcomes.
Nitrogen and Potash Segment Strength
Q2 potash adjusted EBITDA of $658 million and Q2 nitrogen adjusted EBITDA of $635 million; North American nitrogen assets described as low‑cost and well positioned amid market volatility.
Downstream / Retail Execution and Proprietary Products Growth
Downstream retail adjusted EBITDA of $1.24 billion in H1 (up 4% year-over-year); proprietary crop nutrients gross margin increased (company cited a 10% increase in H1 proprietary crop nutrients gross margin) and sales volumes for certain nutritional products rose nearly tenfold versus prior year.
Capital Allocation and Shareholder Returns
Reduced 2026 capital expenditures guidance by $50 million to $1.95–$2.05 billion; increased share repurchases by 26% in H1 year-over-year and accelerated repurchase pace in Q3 to approximately $75 million per month.
Portfolio Optimization and Balance Sheet Actions
Completed agreements to sell non-core assets for gross proceeds of ≈$90 million since June 2026 and ~ $1 billion in gross proceeds since Q4 2024; reviewing strategic alternatives for phosphate, Trinidad nitrogen and parts of Brazilian retail.
Operational Milestones and Turnaround Execution
Completed the largest-ever Carseland turnaround ahead of schedule, under budget and safely (0 lost-time injuries); debottlenecking project increased annual production capacity.
MX:NTRN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed