Norwegian fertilzer major Yara reported a sharp rise in profitability for the first quarter of 2026, with EBITDA excluding special items reaching USD 896 million, up from US$ 638 million in the same period last year. 

 

Net income also increased to US$ 327 million, compared with US# 295 million a year earlier.

 

The company pointed to stronger nitrogen margins and solid delivery volumes as key drivers of performance, even as global fertilizer markets were shaken by major supply disruptions linked to geopolitical tensions.

 

'Yara’s financial results continue on their positive trend as we deliver on our strategic priorities outlined at our Capital Markets Day. The quarter delivered strong results, reflecting increased nitrogen margins, solid volumes and a sustained focus on operational performance,” said Svein Tore Holsether, President and Chief Executive Officer.

 

The backdrop to the results is a worsening global supply shock. The war in the Middle East has disrupted energy and fertilizer flows, with the blockage of the Strait of Hormuz affecting roughly one-third of globally traded urea, alongside critical inputs such as natural gas, ammonia, phosphates, and sulphur. 

 

The disruption triggered immediate shortages, forcing prices sharply higher across global markets.

 

Yara said its international footprint helped cushion the impact, allowing the company to shift production and optimize across regions. It emphasized its ability to maintain high output levels, improve asset utilization, and flexibly source ammonia globally—particularly important when high European gas prices reduce production competitiveness.

 

In recent years, Yara said it has strengthened its operational resilience through internal improvement programs, positioning itself to better withstand volatility in global markets.

 

“Developments in the Middle East put significant pressure on the global food system, with knock on effects across the value chain and growing challenges for farmer affordability. 

 

"This volatility highlights how fragile the food system is, and why resilient fertilizer supply chains and a strong farming community are essential. Fertilizers play a critical role in food security, and Yara remains focused on upholding production and deliveries. 

 

"By utilizing its global business model, Yara is well positioned to optimize operations in an uncertain global environment marked by increased regional price and demand volatility,” said Holsether.