Nutrien raised its potash sales-volume guidance and increased share repurchases after strong first-half earnings driven by record volumes.
Nutrien reported first-half adjusted EBITDA of $3.5 billion, up 6% year-over-year, supported by record potash volumes and proprietary-product margin growth. The company also raised its 2026 potash sales-volume outlook while maintaining its global shipment forecast.
Retail and nitrogen performance was mixed, with lower commodity fertilizer volumes offset by a 10% increase in proprietary-product gross margin. Nitrogen EBITDA reached $635 million, though production disruptions and maintenance weighed on sales volumes.
Nutrien cut its 2026 capital-expenditure guidance to $1.95 billion–$2.05 billion and accelerated share repurchases to $75 million per month. The company is also evaluating strategic alternatives for its phosphate, Trinidad nitrogen, and parts of its Brazilian retail businesses.