Nutrien Sales Drop 23 Percent

Nutrien generated net earnings of $1.3 billion in 2023, down from a record $7.6 billion in 2022. Global potash demand was strong through the second half of the year and is expected to recover to trend levels this year. The U.S. nitrogen supply and demand balance is forecast to be tight for the spring application season. That’s because nitrogen fertilizer imports in the first half of the 2023-2024 fertilizer year were down 55 percent from the three-year average. Phosphate markets are relatively strong to begin the new year.