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Stock Market & Financial Investment News

News Breaks
January 20, 2014
18:13 EDTAGUAgrium sees Q4 EPS at bottom of 80c-$1.25 outlook
Agrium announced today that it expects its Q4 EPS from continuing operations to be at the bottom of the previously released guidance range of 80c-$1.25. The consensus estimate is 99c. "The update to guidance is primarily due to lower than expected sales prices across all Wholesale nutrients in the quarter and lower than expected UAN and domestic potash sales volumes, partly due to challenges with domestic rail shipments," the company said. Agrium added its "Retail operations are expected to achieve record results for the fourth quarter and for the 2013 year. Retail was able to offset industry headwinds of lower nutrient prices and a compressed fall season in the U.S. by achieving higher margins for nutrients, seed and services and other product lines. Corporate inter-segment eliminations, largely related to Wholesale nutrient volumes that have been purchased by Retail but have not yet been sold to end customers, were higher than anticipated. These eliminations postpone the recognition of these sales and impact earnings by approximately $18-million in the fourth quarter of 2013. Earnings from these sales will be recognized once Retail completes the sale to end-customers this spring."
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