Agrium Inc. (TSX:AGU) announced today that the company expects third quarter 2009 earnings to be 90 to 95 percent below last year’s third quarter results. The reduction is due to significantly lower prices and margins for all three crop nutrients, and particularly for phosphate and potash.
The press release is quoted as saying:
Agrium Inc. is a major retail supplier of agricultural products and services in both North and South America and a leading global producer and marketer of agricultural nutrients and industrial products. Agrium produces and markets three primary groups of nutrients: nitrogen, phosphate and potash as well as controlled release fertilizers and micronutrients. Agrium’s strategy is to grow through incremental expansion of its existing operations and acquisitions as well as the development, commercialization and marketing of new products and international opportunities.
