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Agrium reports drop in income due to longer winter season

9:19 AM MDT | May 10, 2013 | Lindsay Frost

Agrium reports a drop in sales and net income for their first quarter due to colder weather lasting longer into the normal start of the spring season. However, the company still expects demand in their products—leading to stronger crop yield—throughout the rest of 2013. Net income of $141 million was down 9% year-on-year (YOY), which includes a $16 million share-based payments expense. Earnings per share of 94 cts/share was below analyst consensus of $1.08/share, as reported by Thomson Reuters (New York). Sales decreased 11%, to $3.2...

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