Yara International reported a sharp increase in second-quarter earnings, with higher margins and resilient operations helping the fertilizer producer overcome volatile global markets and geopolitical uncertainty.
EBITDA excluding special items rose to USD 906 million in the second quarter of 2026, up from USD 652 million a year earlier. Net income increased to USD 545 million, compared with USD 413 million in the second quarter of 2025.
The company said strong margins drove robust returns on invested capital despite volatile nitrogen prices that delayed off-season demand during the quarter. Market activity in Europe and globally has begun to recover in July, while Yara also advanced its long-term strategy through the acquisition of Gulf Coast Ammonia.
"Yara delivered higher margins and strong returns in a market characterized by heightened price and demand volatility. While market uncertainty led to reduced purchasing activity due to delayed demand for the new season, we continued to leverage our global downstream presence to optimize volumes and maintain strong production levels.
"This demonstrates the resilience and flexibility of Yara’s business model,” said Svein Tore Holsether, President and Chief Executive Officer.
The company said the war in the Middle East significantly disrupted global energy and fertilizer markets during the quarter. The blockage of the Strait of Hormuz triggered a sharp increase in urea prices near the end of Europe's buying season, while uncertainty and price swings delayed purchasing for the upcoming Northern Hemisphere season.
Despite the slow start, Yara said significant buying demand remains, nitrogen imports are at record lows, and purchasing activity began to recover in key markets by mid-July. However, renewed conflict in the Middle East continues to raise concerns over fertilizer supplies for the next season.
Against that backdrop, Yara continued to execute on its strategic priorities, highlighting the acquisition of Gulf Coast Ammonia as a major step toward lowering production costs and reducing its dependence on European energy prices.
"The announced acquisition of the Gulf Coast Ammonia plant marks an important milestone in delivering on Yara’s strategy. It strengthens our ammonia cost position, enhances both strategic and operational flexibility, and supports long-term value creation.
"The acquisition also creates a more balanced energy exposure, with Yara now equally positioned across European and U.S. gas markets. This transaction demonstrates our commitment to invest in value-accretive growth opportunities while maintaining strict capital discipline and a strong focus on shareholder returns,” said Holsether.
The acquisition remains subject to customary closing conditions, including regulatory approvals. Once completed, Yara said its immediate focus will be integrating the facility into its operations while continuing to deliver previously announced EBITDA improvement targets.
