Q1 26 EPS
$0.51
MISS 1.92%
Est. $0.52
Q1 26 Revenue
$6.05B
BEAT +14.39%
Est. $5.29B
vs S&P Since Q1 26
-8.2%
TRAILING MARKET
NTR -7.3% vs S&P +0.8%
Market Reaction
Did NTR Beat Earnings? Q1 2026 Results
Nutrien Ltd. Delivered a mixed first quarter for 2026, posting revenue of $6.05 billion, a result that topped the $5.29 billion consensus estimate by 14.39% and reflected an 18.6% year-over-year gain, even as adjusted earnings per share of $0.51 fell… Read more Nutrien Ltd. Delivered a mixed first quarter for 2026, posting revenue of $6.05 billion, a result that topped the $5.29 billion consensus estimate by 14.39% and reflected an 18.6% year-over-year gain, even as adjusted earnings per share of $0.51 fell just short of the $0.54 analyst estimate by 5.38%. The standout driver was the Potash segment, which delivered record sales volumes of 3,510 thousand tonnes and a 30% jump in adjusted EBITDA to $578 million, fueled by higher global benchmark prices that lifted the average net selling price to $264 per tonne from $219 a year ago. Net earnings climbed sharply to $139 million from just $19 million in Q1 2025, while consolidated adjusted EBITDA rose 30% to $1.10 billion. The strong quarterly showing has done little to quiet skeptics, as retail investors remain cautious on the stock despite its recent run. Looking ahead, Nutrien reaffirmed its full-year 2026 guidance, including potash sales volumes of 14.1 to 14.8 million tonnes and retail adjusted EBITDA of $1.75 to $1.95 billion.
Key Takeaways
- • Higher global fertilizer benchmark prices across potash, nitrogen, and phosphate
- • Record potash sales volumes of 3,510 thousand tonnes supported by low inventory levels and favorable affordability in offshore markets
- • Stronger Retail performance from higher crop nutrient volumes and proprietary product margins in the US and Australia
- • Earlier start to field activity in the US relative to Q1 2025
- • Potash controllable cash cost of product manufactured maintained below $60 per tonne through mine automation
- • Lower overall natural gas costs for Nitrogen ($3.28/MMBtu vs $3.91/MMBtu) due to higher proportion of low-cost North American production
- • Phosphate production volumes increased with P2O5 operating rate improving to 80% from 67%
- • Increased potash production volumes to 3,660 thousand tonnes from 3,289 thousand tonnes
- • Higher solutions, nitrates and sulfates sales volumes supported by reliability and debottleneck initiatives
- • Phosphate sales volumes rose to 658 thousand tonnes from 500 thousand tonnes driven by reliability improvements
NTR YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
NTR Revenue by Segment
With YoY comparisons, source: SEC Filings
NTR Revenue by Geography
Regional revenue distribution
“Nutrien delivered record potash sales volumes and stronger Nitrogen and Retail performance in the first quarter. We increased production from our low-cost North American assets and positioned our supply chain to reliably supply our customers amid tightening global fertilizer supply and demand fundamentals.”
— Ken Seitz, Q1 2026 Earnings Press Release
NTR Earnings Trends
NTR vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
NTR EPS Trend
Earnings per share: estimate vs actual
NTR Revenue Trend
Quarterly revenue: estimate vs actual
NTR Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 | — | — | — | — | — |
| Q1 26 MISS | $0.52 | $0.51 | -1.92% | $6.05B | +14.39% |
| Q4 25 BEAT FY | $0.92 | $1.18 | +27.66% | $5.34B | +9.02% |
| FY Full Year | $4.60 | $4.66 | +1.25% | $26.89B | +1.93% |
| Q3 25 BEAT | $0.97 | $0.97 | +0.09% | $6.01B | +7.24% |
| Q2 25 BEAT | $2.42 | $2.65 | +9.66% | $10.44B | -0.09% |