UPDATE 1-Fertilizer dealer Agrium profit beats Street estimates

Wed Aug 6, 2014 7:27pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(Adds details on quarter)

Aug 6 (Reuters) - Canadian fertilizer and farm retail dealer Agrium Inc's second-quarter profit beat Wall Street estimates due to the inclusion of sales from Viterra Inc's retail centers.

Agrium received regulatory approval for its purchase of most of Viterra's farm retail stores in Canada last September and completed the acquisition of its assets in October.

Agrium, already the biggest U.S. retail seller of fertilizer, chemicals and seed, acquired 13 Viterra locations in Australia in June.

Excluding one-time items, second-quarter earnings were $629 million, or $4.37 per share.

Analysts' had estimated a profit of $4.11 a share, according to Thomson Reuters I/B/E/S.

Agrium had forecast earnings per share for the busy second quarter at $3.85 to $4.35 from continuing operations.

Sales rose 6 percent to $7.34 billion, above analysts' expectations for $7.18 billion.

Agrium is North America's biggest retail seller of seed, fertilizer and chemicals directly to farmers and is also a producer of nitrogen, potash and phosphate fertilizer.   Continued...