Agrium (TSX: T.AGU, Stock Forum) Thursday announced that it expects its 2012 fourth-quarter earnings to be slightly above $2.00 per diluted share, this according to a company news release.
This compares to its previous guidance of $1.50 to $1.90 per diluted share. The fertilizer producer cited better-than-expected results at its wholesale fertilizer division as a key reason it was raising its guidance.
"The increase in our estimated financial results is due to a very strong finish to the fall application season in our North American Retail operations, supported by an extended fall season in the U.S. and continued strength in grain and oilseed prices. Going forward, continued strength in crop prices and low global grain inventories are anticipated to support a strong spring application season in 2013," said Agrium President and CEO Mike Wilson.