Expected Potash Recovery Could Be Derailed by Coronavirus
While suffering potash producer Nutrien believes in significant improvement in the short-term, recent health outbreaks may halt any recovery, reports Kitco News. The potash giant released its year-end results Wednesday. As a whole, last year looked good. Sales for 2019 were up 2% to $20.02 billion compared to 2018.
The company’s earnings were up sharply. Nutrien swung its EBITDA from $2 billion to $3.6 billion in 2019.
“Nutrien’s earnings held up well in 2019 and we generated strong free cash flow in a very tough agriculture market. We executed on our strategic plan, growing our Retail business with several strategic acquisitions and made great strides with the roll-out and adoption of our leading Retail digital platform and financial tools,” commented Chuck Magro, Nutrien’s President and CEO.
Continue reading at Kitco News.
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