Nutrien (NTR) Company Report

Analyst Coverage

Research analysts who have asked questions during Nutrien earnings calls.

Andrew Wong

RBC Capital Markets

8 questions for NTR

Also covers: CCJ, CF, LGO +3 more

Ben Isaacson

Scotiabank

8 questions for NTR

Also covers: ALB, LAAC, LAR +4 more

Edlain Rodriguez

Mizuho Securities

8 questions for NTR

Also covers: ALB, AXTA, BALL +8 more

Joel Jackson

BMO Capital Markets

8 questions for NTR

Also covers: AGCO, ALB, ALTM +12 more

Lucas Beaumont

UBS Group AG

8 questions for NTR

Also covers: AXTA, CF, FUL +5 more

Steven Hansen

Raymond James

7 questions for NTR

Also covers: ALTG, CNI, CP +2 more

Jeffrey Zekauskas

JPMorgan Chase & Co.

6 questions for NTR

Also covers: ALB, AMCR, APD +31 more

Kristen Owen

Oppenheimer & Co. Inc.

6 questions for NTR

Also covers: , AGCO, AVNT +15 more

Vincent Andrews

Morgan Stanley

6 questions for NTR

Also covers: ALB, APD, AVNT +20 more

Hamir Patel

CIBC Capital Markets

5 questions for NTR

Also covers: MEOH, MERC, WFG +1 more

Ben Theurer

Barclays

4 questions for NTR

Also covers: ADM, BG, CF +8 more

Chris Parkinson

Wolfe Research, LLC

4 questions for NTR

Also covers: ASH, AXTA, CCK +9 more

Richard Garchitorena

Wells Fargo

4 questions for NTR

Also covers: CF, CTVA, DOW +2 more

Benjamin Theurer

Barclays Corporate & Investment Bank

3 questions for NTR

Also covers: ADM, BG, BYND +17 more

Christopher Parkinson

Wolfe Research

3 questions for NTR

Also covers: ALB, APD, ASH +18 more

Matthew Deyoe

Bank of America

3 questions for NTR

Also covers: APD, AXTA, CF +12 more

Steve Byrne

Bank of America

3 questions for NTR

Also covers: ADM, APD, AXTA +19 more

Aron Ceccarelli

Berenberg

2 questions for NTR

Also covers: CF, MOS, PPG +1 more

David Simmons

BNP Paribas

2 questions for NTR

Also covers: CF, MOS

David Symonds

BNP Paribas

2 questions for NTR

Also covers: MOS

Duffy Fischer

Goldman Sachs

2 questions for NTR

Also covers: APD, AXTA, CC +13 more

Jordan Lee

Goldman Sachs

2 questions for NTR

Also covers: CF, SFD

Justin Pellegrino

Morgan Stanley

2 questions for NTR

Also covers: CC, CF, TROX

Michael Doumet

National Bank Financial

2 questions for NTR

Also covers: GFL, WCN

Salvator Tiano

Bank of America

2 questions for NTR

Also covers: ADM, BG, CE +7 more

Adam Samuelson

The Goldman Sachs Group, Inc.

1 question for NTR

Also covers: BERY, CE, HRL +3 more

Andrew Rosivach

Wolfe Research

1 question for NTR

Also covers: RBLX

Ariana Milin

CIBC Capital Markets

1 question for NTR

Jacob Bout

CIBC

1 question for NTR

Also covers: STN

Jeff Sikorski

JPMorgan Chase & Co.

1 question for NTR

Jeff Zekauskas

JPMorgan

1 question for NTR

Also covers: CC, CTVA, DOW +8 more

Michael Tupholme

TD Cowen

1 question for NTR

Also covers: STN

Mike Sison

Wells Fargo

1 question for NTR

Also covers: CE, DOW, EMN +5 more

Mike Sisson

Wells Fargo Securities

1 question for NTR

Also covers: CF, EMN, IFF +1 more

Patrick Fischer

Goldman Sachs

1 question for NTR

Also covers: APD, AXTA, CC +8 more

Rahi Parikh

Barclays

1 question for NTR

Also covers: BG, HRL, ICL +2 more

Latest news

Recent press releases and 8-K filings for NTR.

Nutrien Reports Strong 2025 Financial Results and Strategic Capital Allocation

NTR

Earnings

Share Buyback

Dividends

Nutrien Ltd. reported strong financial performance for the year ended December 31, 2025, with sales increasing to $26,885 million from $25,972 million in 2024, and net earnings significantly rising to $2,297 million from $700 million in 2024. The company also achieved record fertilizer sales volumes of 27.5 million tonnes and increased Retail adjusted EBITDA to $1.74 billion in 2025.
The company focused on disciplined capital allocation in 2025, materially lowering adjusted net debt by approximately $600 million to $11,060 million and ending the year with an adjusted net debt to adjusted EBITDA ratio of 1.8x. This included non-core divestitures generating approximately $900 million in gross proceeds, ratable share repurchases, and an increase in dividends declared per share to $2.18.
Looking ahead to 2026, Nutrien projects global potash demand growth and anticipates Retail adjusted EBITDA guidance consistent with historical growth rates.

11 hours ago

6-K

Nutrien Announces Renewed Share Repurchase Program

NTR

Share Buyback

Nutrien Ltd. (NTR) has received Toronto Stock Exchange (TSX) approval for a renewed normal course issuer bid (NCIB) to repurchase outstanding common shares.
The new NCIB permits the repurchase of up to five percent of its issued and outstanding common shares, which amounts to 24,057,066 shares based on 481,141,322 common shares outstanding as of February 17, 2026.
Purchases under this renewed NCIB are scheduled to commence on March 3, 2026, and will expire on the earlier of March 2, 2027, or when the maximum number of shares has been acquired.
Under the prior NCIB, which expires on March 2, 2026, Nutrien repurchased 8,708,901 common shares at a weighted-average price of US$58.56 per share, totaling US$510,031,461, as of February 17, 2026.

1 day ago

6-K

Nutrien Announces Renewed Share Repurchase Program

NTR

Share Buyback

Nutrien Ltd. (NTR) has received Toronto Stock Exchange (TSX) approval for a renewed normal course issuer bid (NCIB) to repurchase up to five percent of its outstanding common shares.
This program allows for the repurchase of up to 24,057,066 common shares, based on 481,141,322 shares outstanding as of February 17, 2026.
The new NCIB is scheduled to commence on March 3, 2026, and will expire by March 2, 2027.
Under its prior NCIB, which expires on March 2, 2026, Nutrien repurchased 8,708,901 common shares at a weighted-average price of US$58.56 per share, totaling US$510,031,461.

1 day ago

Press Release

Nutrien Discusses 2025 Performance, 2026 Outlook, and Strategic Capital Allocation

NTR

Guidance Update

New Projects/Investments

Share Buyback

Nutrien reported a strong 2025, increasing fertilizer production by 1.3 million and downstream earnings by $300 million, while achieving its $200 million SG&A target.
The company is maintaining a disciplined capital allocation strategy for 2026, guiding CapEx to $2 billion-$2.1 billion (including $1.65 billion sustaining and $400 million growth CapEx), and prioritizing ratable share repurchases and steady dividend growth.
Nutrien expects its retail business to grow 6% on an EBITDA basis year-over-year in 2026 and is re-evaluating its Brazil retail operations, concluding they have not earned their place in the portfolio despite improving to break-even EBITDA in 2025.
The Trinidad plant has been shut down due to uneconomic conditions caused by increased gas costs and port fees, with all options, including decommissioning, under consideration.
The potash market is expected to grow to 80-85 million tons by the end of the decade, with Nutrien planning to increase its production to about 14.5 million tons in 2026 and having the capacity to reach 18 million tons at a highly competitive CapEx of $200 per ton.

3 days ago

Transcript

Nutrien Discusses 2025 Performance, 2026 Outlook, and Capital Allocation Strategy

NTR

Guidance Update

Share Buyback

New Projects/Investments

Nutrien reported a strong 2025, achieving its $200 million SG&A target and increasing fertilizer production by $1.3 million and downstream earnings by $300 million. The company anticipates its retail business to grow 6% on an EBITDA basis year-over-year at the midpoint of its 2026 guidance, building on $1.45 billion in retail EBITDA in 2023.
The company is committed to disciplined capital allocation, having reduced CapEx by $600 million over recent years and guiding to $2 billion-$2.1 billion for 2026, including $400 million for growth CapEx. Nutrien plans to return capital to shareholders through a ratable share repurchase program and steady growth in dividends per share, with approximately $1 billion allocated for dividends.
Nutrien is strategically managing its portfolio, having decided to shut down its uneconomic Trinidad plant due to increased gas costs and port fees. The Brazil downstream business improved from a negative $80 million EBITDA in 2024 to near break-even in 2025, and the company is evaluating its $0.5 billion invested capital in the region for 2026.
The company forecasts continued potash demand growth, expecting an 80-85 million ton market by the end of the decade and 74-77 million tons for 2026, with Nutrien planning to produce approximately 14.5 million tons this year. Nutrien can expand its potash capacity to 18 million tons at a competitive CapEx of $200 per ton.

3 days ago

Transcript

Nutrien Discusses 2025 Performance, Capital Strategy, and Market Outlook

NTR

Guidance Update

New Projects/Investments

Share Buyback

Nutrien reported a strong 2025, increasing fertilizer production by $1.3 million and downstream earnings by $300 million, while achieving its $200 million SG&A target ahead of schedule. The company emphasized a continued focus on capital discipline in 2026, having reduced CapEx by $600 million over the last few years and prioritizing accretive investments, ratable share repurchases, and steady dividend growth.
The company anticipates mid-single-digit EBITDA growth for its retail business in 2026, with an outlook for $400 million of EBITDA growth from 2023 to 2026. However, Nutrien is re-evaluating its Brazil retail operations, concluding that there are better uses for capital than the Brazilian retail segment, despite it reaching break-even in 2025 from a negative $80 million EBITDA in 2024.
Nutrien has shut down its Trinidad plant due to uneconomic conditions caused by rising gas costs and port fees. Concurrently, the company projects continued strong potash demand growth, expecting the market to reach 80-85 million tons by the end of the decade, and plans to increase its own potash production to about 14.5 million tons in 2026.

3 days ago

Transcript

Nutrien Provides Update on Market Conditions and Strategic Initiatives

NTR

Guidance Update

M&A

Share Buyback

Nutrien reported strong 2025 performance, adding 1.3 million tons of fertilizer volumes, growing retail earnings by $300 million, and reducing costs by $200 million, with expectations for continued structural earnings and volume growth in 2026.
The company returned 30% more cash to shareholders last year through stock buybacks and generated $900 million in divestiture proceeds, with strategic reviews of its Brazil, Trinidad, and phosphate businesses expected to conclude in 2026.
Nutrien anticipates global potash volume demand growth of 74-77 million tons this year, driven by factors such as historically low inventories in Brazil and an early contract settlement with China at $349.
The 2026 retail EBITDA guidance is now approximately $1.85 billion, slightly below the prior $1.9 billion-$2.1 billion target due to a less favorable agricultural environment, though structural earnings growth is still expected.

4 days ago

Transcript

Nutrien CEO Discusses Market Outlook and Strategic Initiatives

NTR

Guidance Update

M&A

Share Buyback

Nutrien reported strong performance in 2025, adding 1.3 million tons of fertilizer volumes, structurally growing retail earnings by $300 million, and reducing costs by $200 million. For 2026, the company expects to structurally grow earnings from its downstream business and increase fertilizer volumes.
The company emphasizes capital allocation discipline, including a stable and growing dividend, and returned 30% more cash to shareholders last year through stock buybacks, while reducing CapEx by $600 million to date.
Nutrien is actively reviewing its portfolio, having completed $900 million in divestiture proceeds last year. Strategic reviews are currently underway for its Brazil, Trinidad, and phosphate businesses, with conclusions expected in 2026.
The global potash market is projected to see 74-77 million tons of demand growth again this year, marking the fourth consecutive year of growth, and the CEO anticipates a balanced market through the end of the decade and early next.
The retail business is expected to maintain its growth trajectory, similar to the last five years, driven by proprietary products, network optimization, and ongoing cost reduction efforts.

4 days ago

Transcript

Nutrien Discusses 2025 Performance, 2026 Outlook, and Strategic Portfolio Reviews

NTR

Guidance Update

New Projects/Investments

M&A

Nutrien reported strong 2025 performance, adding 1.3 million tons of fertilizer volumes, growing retail earnings by $300 million, and reducing costs by $200 million. The company anticipates further structural earnings growth from its downstream business and increased fertilizer volumes in 2026.
The company is focused on capital allocation discipline, returning 30% more cash to shareholders last year through dividends and stock buybacks, and has reduced CapEx by $600 million to date, with a current guidance of $2 billion-$2.1 billion.
Nutrien is actively reviewing its portfolio, having completed $900 million in divestitures last year, and is conducting strategic reviews for its Brazil, Trinidad, and phosphate businesses, with conclusions expected in 2026.
The retail business's 2026 EBITDA guidance is around $1.85 billion, slightly below the previous $1.9 billion-$2.1 billion target due to a challenging agricultural environment. However, the company projects continued growth at rates similar to the last five years, driven by network optimization and cost efficiency.
Nutrien anticipates global potash volume growth of 74 million-77 million tons in 2026, marking the fourth consecutive year of growth, and expects a balanced market through the end of the decade. The company plans to expand potash production through cost-effective brownfield investments.

4 days ago

Transcript

Nutrien Reports Strong 2025 Results and Outlines 2026 Strategic Priorities

NTR

Earnings

Guidance Update

M&A

Nutrien reported Adjusted EBITDA of $6.05 billion for 2025, a 13% increase from the prior year, driven by record fertilizer sales volumes of 27.5 million tons and a $1.74 billion retail Adjusted EBITDA.
The company surpassed its $200 million annual cost savings target and reduced capital expenditures to $2 billion in 2025, while generating approximately $900 million from divestitures.
Nutrien reduced short-term debt by over $600 million and delivered a 30% increase in cash return to shareholders in 2025.
For 2026, capital expenditures are guided at $2-$2.1 billion, and the Board authorized the repurchase of up to 5% of outstanding common shares, with repurchases expected to continue at approximately $50 million per month.
The company is conducting strategic reviews for its phosphate business, aiming to solidify an optimal path in 2026, and is also reviewing alternatives for its Trinidad nitrogen operations and Brazilian business.