Nutrien Provides 2018 Guidance and Announces Agrium and PotashCorp Fourth-Quarter Earnings

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PADDING-RIGHT:0.83em } .prnpr6{ PADDING-RIGHT:0.50em } .prntac{ TEXT-ALIGN: CENTER } .prnvab{ VERTICAL-ALIGN: BOTTOM } .prntbls{ BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid } .prnsbbd{ BORDER-BOTTOM:black 2pt double } .prnsbts{ BORDER-TOP:black 1pt solid } .prnsblb0{ BORDER-LEFT:black 0pt } .prnrbrb0{ BORDER-RIGHT:black 0pt } .prntal{ TEXT-ALIGN: LEFT } .prnpr8{ PADDING-RIGHT:0.67em } .prnsbtb0{ BORDER-TOP:black 0pt } .prntblns{ BORDER-TOP: 1pt; BORDER-RIGHT: 1pt; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt } .prnvat{ VERTICAL-ALIGN: TOP } .prnsbbs{ BORDER-BOTTOM:black 1pt solid } .prnpl6{ PADDING-LEFT:0.50em } </style> <p>NYSE, TSX: NTR</p> <p><span class="xn-location">SASKATOON</span>, <span class="xn-chron">Feb. 5, 2018</span> /CNW/ - Nutrien Ltd. (Nutrien) announced today fourth-quarter 2017 results for Agrium Inc. (Agrium) and Potash Corporation of Saskatchewan Inc. (PotashCorp) and provided financial guidance for 2018.</p> <p><b>HIGHLIGHTS</b></p> <ul type="disc"> <li>Agrium fourth-quarter earnings from continuing operations, adjusted for items not included in guidance, of <span class="xn-money">$0.78</span><sup>1</sup> per share<sup>2 </sup>(see page 5 for a reconciliation to net earnings from continuing operations of <span class="xn-money">$0.19</span> per share)<br /> &nbsp;</li> <li>PotashCorp fourth-quarter adjusted earnings of <span class="xn-money">$0.06</span> per share (see page 11 for a reconciliation to net loss of <span class="xn-money">$0.09</span> per share)<br /> &nbsp;</li> <li>2017 earnings for Agrium were supported by record Retail EBITDA<sup>3</sup> of <span class="xn-money">$1.2 billion</span> and margins of 10 percent while stronger potash prices, sales volumes and lower cash costs per tonne benefited both companies<br /> &nbsp;</li> <li>Nutrien full-year 2018 guidance&nbsp;of <span class="xn-money">$2.10</span> to <span class="xn-money">$2.60</span> earnings per share from continuing operations, excluding incremental depreciation and amortization related to purchase price allocation of <span class="xn-money">$150 million</span> to <span class="xn-money">$300 million</span><br /> &nbsp;</li> <li>Nutrien 2018 EBITDA&nbsp;of <span class="xn-money">$3.2 billion</span> to <span class="xn-money">$3.7 billion</span><br /> &nbsp;</li> <li>Nutrien sold its equity stake in <span class="xn-location">Israel</span> Chemicals Ltd. (ICL) in <span class="xn-chron">January 2018</span> for net proceeds of <span class="xn-money">$685 million</span><br /> &nbsp;</li> <li>Nutrien announced an agreement to purchase Agrichem, a leading Brazilian specialty plant nutrition company with total annual historical net sales of over <span class="xn-money">$55 million</span><br /> &nbsp;</li> <li>Nutrien achieved over <span class="xn-money">$40 million</span> in run-rate synergies year-to-date 2018</li> </ul> <p>&nbsp;</p> <p><b><i>CEO COMMENTARY</i></b></p> <p>"Nutrien is a global integrated crop inputs provider focused on delivering yield-enhancing products and services to our customers in a sustainable manner, while maximizing shareholder value," said Nutrien President and CEO <span class="xn-person">Chuck Magro</span>. "Our significant positions in retail, potash and nitrogen provide multiple avenues to generate significant value and we remain focused on capturing half a billion dollars in annual merger synergies by the end of 2019.&nbsp;</p> <p>"We further expect to realize significant proceeds from the ongoing sale of equity positions and will continue to reinvest in growing our retail business and return cash to shareholders," added Mr. Magro.</p> <p><a href="https://www.nutrien.com/sites/default/files/uploads/2018-02/Nutrien%20Q4%202017%20Earnings%20Release%202018-02-05.pdf" target="_blank"><strong>Download for full release</strong></a></p>