May 10, 2019 / 6:55 PM / 5 months ago

BUZZ-Nutrien: Sees higher fertilizer demand in Q2

** Nutrien’s U.S.-listed shares up 3.8%; on pace for second best day this year

** Co maintained its FY forecast as it expects crop input demand to rise in Q2, despite Q1 being hit by harsh weather

** “While some regions are still receiving excess moisture, planting is underway and we expect strong crop input demand in the second quarter” - Chuck Magro, CEO

** Co also says it will buy back 5% additional shares for cancellation; the program was announced in Feb

** Co continues to expect FY adj earnings of $2.80/shr to $3.20/shr, above estimates of $2.97/shr at the midpoint

** Q1 adjusted earnings of $0.20/shr missed estimates of $0.26/shr; “extremely wet spring season” and floods in the U.S. hit agriculture and retail segment

** Q1 rev $3.69 bln, below estimates of $3.91 bln

** Including Friday’s gains, Nutrien’s U.S. stock has risen ~11.8% this year (Reporting by Shariq Khan in Bengaluru)

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