Nutrien has reported a strong second quarter for 2026, posting $1.22 billion in net earnings, or $2.53 per diluted share, as record potash sales volumes and stronger margins across key businesses boosted results.
The Canadian fertilizer giant reported $2.43 billion in adjusted EBITDA and $2.61 in adjusted net earnings per share for the quarter.
The company said its first-half performance was driven by record potash sales, stronger margins on proprietary retail products and improved reliability and costs across its nitrogen operations.
“In the first half of 2026, Nutrien delivered record potash sales volumes, strong growth in proprietary products margins and further enhanced the reliability and cost position of our nitrogen assets in a dynamic global operating environment,” commented Ken Seitz, Nutrien’s President and CEO.
“Our focus on operational excellence, targeted growth investments and ongoing portfolio optimization initiatives is strengthening our business, supporting structural free cash flow growth and increasing cash returns to shareholders.”
Nutrien’s potash business delivered $1.24 billion in adjusted EBITDA in the first half, benefiting from higher global benchmark prices and strong operational and supply-chain execution.
The company reported record first-half potash sales volumes and production, while continuing to advance mine automation. Controllable cash costs of product manufactured remained below $60 per tonne, according to the company.
Nitrogen adjusted EBITDA climbed to $1.12 billion in the first half, helped by higher global nitrogen prices and lower natural gas costs.
Production at Nutrien’s low-cost North American nitrogen facilities remained on plan, including the successful completion of the largest turnaround in the history of its Carseland facility.
The Retail business generated $1.24 billion in adjusted EBITDA in the first half, up on stronger proprietary products gross margins and a robust livestock market in Australia.
Those gains were partly offset by lower crop nutrient sales volumes and higher fuel costs.
Nutrien generated 12% more cash from operating activities in the first half and returned $848 million to shareholders through dividends and share repurchases.
Share repurchases rose 26%, with the company accelerating buybacks in the third quarter. As of August 4, Nutrien had repurchased approximately $82 million of common shares during the quarter.
The company is also continuing to streamline its portfolio. Since June, Nutrien has signed agreements to sell non-core assets for expected gross proceeds of approximately $90 million. Including those deals, the company has divested about $1 billion of non-core assets since the fourth quarter of 2024.
Nutrien said it remains on track to determine the optimal path for its Phosphate business, Trinidad Nitrogen facility and Brazilian Retail business in 2026.
