NTR - Nutrien CEO foresees continued strength in fertilizer prices demand

Nutrien (NTR -5.1%) falls sharply even after Q3 earnings and revenues exceed expectations and full-year earnings are guided above analyst consensus. Shares of fertilizer peers Mosaic (MOS -9.5%) and Intrepid Potash (IPI -19.6%) also plunge following earnings reports that actually missed estimates. Nutrien and Mosaic both said they anticipate the surge in fertilizer prices to continue on strong demand. Nutrien CEO Mayo Schmidt expects an extended period of market strength from higher commodity and energy prices, with nitrogen markets remaining very tight in H1 2022 and limited new nitrogen supply. "We've had very good pricing and we're continuing to see very good strength," Schmidt tells Bloomberg, adding that high corn prices will support maximizing U.S. plantings next year, so farmers will not be slowed by the higher fertilizer prices. Nutrien's ammonia sales in Canada were higher than expected for the fall, and the company is doing everything it can to boost

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Nutrien CEO foresees continued strength in fertilizer prices, demand