SASKATOON — Nutrien Ltd. says it earned $1.1 billion in the fourth quarter of 2022, down seven per cent from the same quarter a year earlier.
Earnings per diluted share for the quarter ended Dec. 31 were $2.15, up from $2.11 a year earlier.
The Saskatoon-based potash and fertilizer company says its earnings for the full financial year were $7.7 billion, 142 per cent higher than $3.2 billion in 2021.
The company says its higher earnings for the year were due to higher selling prices resulting from global supply uncertainties as well as record retail performance.
Nutrien attributed its earnings decrease in the fourth quarter to lower sales volumes, which were partially offset by higher selling prices.
President and CEO Ken Seitz says the company's outlook is strong, with higher crop input demand and persistent global supply issues both expected in 2023.
This report by The Canadian Press was first published Feb. 15, 2023.
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