2024-02-22 14:50:07 ET
Nutrien Ltd. (NTR)
Q4 2023 Earnings Conference Call
February 22, 2024, 10:00 AM ET
Company Participants
Jeff Holzman - VP, IR
Ken Seitz - President and CEO
Pedro Farah - CFO
Mark Thompson - EVP and Chief Commercial Officer
Jeff Tarsi - EVP and President, Global Retail
Trevor Williams - EVP and President, Nitrogen and Phosphate
Jason Newton - Chief Economist
Conference Call Participants
Steve Hanson - Raymond James
Joel Jackson - BMO Capital Markets
Adam Samuelson - Goldman Sachs
Ben Isaacson - Scotiabank
Jacob Bout - CIBC
Andrew Wong - RBC Capital Markets
Vincent Andrews - Morgan Stanley
Richard Garchitorena - Wells Fargo
Steve Byrne - Bank of America
Jeff Zekauskas - JPMorgan
Edlain Rodriguez - Mizuho
Aron Ceccarelli - Berenberg
Presentation
Operator
Greetings and welcome to Nutrien's 2023 Fourth Quarter Earnings Call. At this time all participants are in a listen-only mode. A question-and-answer session will follow after the formal presentation. As a reminder, this conference call is being recorded.
I would now like to turn the conference call over to Jeff Holzman, Vice President of Investor Relations. Please go ahead.
Jeff Holzman
Thank you. operator good morning and welcome to Nutrien's fourth quarter 2023 earnings call.
As we conduct this call, various statements that we make about future expectations, plans, and prospects contain forward-looking information. Certain material assumptions were applied in making these conclusions and forecasts. Therefore, actual results could differ materially from those contained in our forward-looking information. Additional information about these factors and assumptions are contained in our quarterly report to shareholders as well as our most recent Annual Report, MD&A, and Annual Information Form filed with Canadian and U.S. Securities Commissions.
I will now turn the call over to Ken Seitz, President and CEO, and Pedro Farah, our CFO, for opening comments before we take your questions.
Ken Seitz
Good morning. Thank you for joining us today as we recap our 2023 results and provide an outlook for the business and our strategic priorities for the year ahead.
Nutrien delivered adjusted EBITDA of $6.1 billion in 2023, we generated $5.1 billion in cash from operations supported by the countercyclical release of working capital and retail. In response to changing market conditions, we took several actions during the year to enhance free cash flow, including a reduction in planned capital and operating expenditures of approximately $400 million....
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Nutrien Ltd. (NTR) Q4 2023 Earnings Call Transcript