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Nutrien

NTR Q1 2026 Earnings

Reported Feb 27, 2026 at 12:44 PM ET · SEC Source

Q1 26 EPS

$N/A

Est. $0.52

Q1 26 Revenue

N/A

Est. $5.23B

vs S&P Since Q1 26

-5.4%

TRAILING MARKET

NTR -0.3% vs S&P +5.1%

Market Reaction

Did NTR Beat Earnings? Q1 2026 Results

Nutrien heads into its first-quarter 2026 report on a wave of momentum, with Wall Street modeling earnings per share of $0.52 and revenue of $5.23 billion, a striking +427.2% increase year over year. The expectations follow a landmark 2025, during wh… Read more Nutrien heads into its first-quarter 2026 report on a wave of momentum, with Wall Street modeling earnings per share of $0.52 and revenue of $5.23 billion, a striking +427.2% increase year over year. The expectations follow a landmark 2025, during which the Canadian fertilizer giant posted full-year sales of $26.89 billion and net earnings of $2.30 billion, more than triple the prior year's $700 million, as record upstream volumes of 27.5 million tonnes and firming fertilizer prices converged to lift results across all four segments. The Potash business was the standout engine, delivering adjusted EBITDA of $2.25 billion on record sales volumes and a 17% improvement in average net selling prices to $252 per tonne. A Middle East supply disruption has since added a fresh tailwind to fertilizer pricing, lending further support to the near-term outlook. For 2026, management guides potash sales volumes of 14.1 to 14.8 million tonnes and targets Retail adjusted EBITDA of $1.75 to $1.95 billion, with an ongoing Phosphate strategic review expected to conclude this year.

Key Takeaways

  • • Higher fertilizer net selling prices across Potash, Nitrogen, and Phosphate
  • • Record upstream fertilizer sales volumes of 27.5 million tonnes
  • • Surpassed $200 million annual cost savings target
  • • Lower capital expenditures at $2.0 billion vs. $2.2–$2.3 billion target
  • • Stronger proprietary products gross margin in Retail
  • • 4-percentage-point improvement in ammonia operating rates to 92%
  • • Disciplined execution of Brazil margin-improvement plan
  • • Gain on sale of Profertil investment of $301 million
  • • No impairment charges in 2025 compared to $530 million in 2024

NTR Forward Guidance & Outlook

For 2026, Nutrien guides Retail adjusted EBITDA of $1.75–$1.95 billion, Potash sales volumes of 14.1–14.8 million tonnes, Nitrogen sales volumes of 9.2–9.7 million tonnes, and Phosphate sales volumes of 2.4–2.6 million tonnes. Depreciation and amortization is guided at $2.4–$2.5 billion, finance costs at $0.65–$0.75 billion, effective tax rate on adjusted net earnings of 24%–26%, and capital expenditures of approximately $2.0–$2.1 billion. Global potash demand is projected to grow for the fourth consecutive year in 2026 to 74–77 million tonnes. The company expects to complete the strategic review of its Phosphate business in 2026 and continues to assess options for Trinidad operations and its Brazilian business. Management anticipates earnings growth in Retail through proprietary product expansion, tuck-in acquisitions, and continued Brazil margin improvement.

24/7 Wall St

NTR YoY Financials

Q1 2026 vs Q1 2025, source: SEC Filings

24/7 Wall St

NTR Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 25 Q1 26
24/7 Wall St

NTR Revenue by Geography

With YoY comparisons, source: SEC Filings

Q3 25 Q1 26

“2025 was a defining year for our Company, with exceptional performance across all our operating segments and a reduction in cost and capital expenditures that surpassed our targets. With an organization that is leaner, more disciplined and better positioned than ever to deliver on its potential, I am confident in our path ahead as our focus remains on continuous improvement: lowering costs, improving asset reliability, efficiently serving our customers and maintaining capital allocation discipline to position Nutrien for long-term success.”

— Ken Seitz, Q1 2026 Earnings Press Release

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