Calgary-based fertilizer producer Agrium Inc sees Q4 profit jump to US$200 million

CALGARY — Agrium Inc. says it reaped a substantial increase in profit last year, bolstered with a strong fourth quarter.

The Calgary-based fertilizer producer and retailer, which reports in U.S. currency, had $200 million of net income in the fourth quarter ended Dec. 31, up from $51 million a year earlier. The net income amounted to $1.45 per share, up from 33 cents within the fourth quarter of 2014.

For the full year, net income rose by $268 million to $988 million or $6.98 per share, up from $4.97 in 2014.

Related

Agrium and Potash Corp face earnings downdraftAgrium Inc downgraded to carry at TDAgrium Inc activist investor ValueAct pleased to keep hands off and revel in profits

Agrium’s sales were down year-over-year, to $2.4 billion in the fourth quarter and $14.8 billion in 2015. That in contrast to $2.7 billion in sales within the fourth quarter of 2014 and $16 billion its 2014.

Agrium’s net income was over the estimate of $1.39 per share but sales were about $445 million underneath the consensus estimate published by Thomson Reuters.

For 2016, Agrium is estimating earnings per share of between US$5.50 and $7.