Agrium, Compass Minerals Profits Soar

Brisimitzakis: Strong demand drove sales. Fertilizer firms continue to reap the benefits of a tight market and higher selling prices. Agrium’s third-quarter net earnings increased 619%, to $367 million ($2.31/share), on sales up 214%, to $3.1 billion. Strong crop prices supported improved selling prices for fertilizers, chemicals, and seeds compared to the same year-ago quarter and resulted in a $282-million increase in gross profit for Agrium’s retail business segment, the company says. The impact of Agrium’s UAP (Greeley, CO) purchase earlier...

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