Agrium Posts First Quarter Loss

Agrium reported a net loss for the first quarter of $60 million (38 cts/share), compared with earnings of $196 million in the same year-ago period. The most recent quarter included charges totaling $97 million. Sales increased 58%, to $1.75 billion. Earnings excluding special items was 4 cts/share, falling short of analysts’ estimates of 24 cts/share as reported by Thomson Reuters (New York). “This year’s results were... impacted by the drop in potash demand, a short-term squeeze on retail nutrient margins and the late spring,” says Mike...

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