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Agrium increases Q2 profit estimates

Stockhouse Editorial
0 Comments| July 18, 2012

Agrium (TSX: T.AGU, Stock Forum) raised its second-quarter earnings estimates on Wednesday. The fertilizer maker and farm products retailer now expects quarterly earnings of $5.40 to $5.50 per share, a Q2 record, up from previous forecast of $4.18 to $4.78 per share.

"The increase in expected earnings is due to excellent results across our entire crop input business, resulting from the continuation of robust demand through June, despite the very early start to the spring season …The outlook remains very positive, supported by the significant increase in grain and oilseed prices globally due to adverse weather in the U.S. and an expected tightening in international crop input markets," said Mike Wilson, Agrium President and CEO. 


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