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Agrium reports earnings drop, sales up on strong retail
12:30 PM MST | November 6, 2013 | Lindsay Frost
Agrium today announced third-quarter results, with net income dropping 41% year-over-year (YOY), to $76 million. Earnings per share of 52 cts/share fell below analyst estimates of 57 cts/share, according to Thomson Reuters (New York). Results include a pretax share-based payments recovery of $21 million, a write-down on the company’s Hanfeng Evergreen (Toronto) investment—a developer and producer of fertilizers—and a loss of $2 million on natural gas and other hedge positions, the company says. Sales of $2.9 billion increased 3% YOY. “The...
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