On The Rise Saskatoon-based Nutrien Ltd. rose on Wednesday after it said it was reviewing strategic options for its 50-per-cent ownership in Profertil, an Argentinian fertilizer company, and was no longer pursuing its Geismar clean ammonia project in Louisiana.
The company had in 2023 indefinitely halted work on its clean ammonia project at Geismar, Louisiana.
The company, whose investor call is due later today, said in a release that it intends to reduce controllable costs across its operations by nearly US$200-million by 2026 while maintaining an average capex of US$2.2- to US$2.3-billion through 2026.
It is also aiming for potash and nitrogen sales volume growth of approximately 2-3 million tons by 2026, compared to 2023 levels.
“Our simplified and focused plan prioritizes initiatives that enhance our ability to serve growers in our core markets, maintain the low-cost position and reliability of our assets, and improve the quality of our earnings and free cash flow,” said Ken Seitz, Nutrien’s CEO.