Nutrien Raises Potash Sales Guidance After Record First Half Volumes
The crop inputs provider returned $848 million to shareholders through dividends and share repurchases in the first half of 2026
Nutrien Ltd. (NTR), a global provider of crop inputs and services, reported net earnings of $1.22 billion for the second quarter of 2026. The company recorded diluted net earnings of 2.53 a share for the period.
First half performance was driven by record potash sales volumes and strong growth in proprietary product margins. The company raised its potash sales volume guidance and lowered its capital expenditures guidance ranges. Potash adjusted EBITDA rose to $1.24 billion in the first half of 2026, which the company attributed to higher global benchmarks and supply chain execution. Nutrien maintained a controllable cash cost of product manufactured below $60 per tonne while progressing mine automation.
Retail adjusted EBITDA also reached $1.24 billion in the first half of 2026. The company said this result was due to higher proprietary products gross margins and a strong livestock market in Australia, though these gains were partially offset by higher fuel costs and lower crop nutrient sales volumes.
Nitrogen adjusted EBITDA increased to $1.12 billion in the first half of 2026. The company attributed the increase to lower natural gas costs and higher global nitrogen benchmarks. This period included the execution of the largest turnaround in the history of the company's Carseland facility.
Cash provided by operating activities rose 12% in the first half of 2026. Nutrien returned $848 million to shareholders during the first half through dividends and share repurchases. Share repurchases increased 26% during that period. The company further accelerated the pace of buybacks in the third quarter, repurchasing approximately $82 million of common shares as of August 4, 2026.
For the six months ended June 30, 2026, sales totaled $16.86 billion compared to $15.54 billion for the same period in 2025. Net earnings attributable to equity holders for the first half were $1.35 billion.
Since June 2026, the company entered into agreements to sell assets as part of ongoing portfolio optimization.