Financial Performance - Nutrien reported fourth quarter 2023 net earnings of $176 million ($0.35 diluted net earnings per share) and adjusted EBITDA of $1.1 billion[3]. - For the full year 2023, Nutrien generated net earnings of $1.3 billion ($2.53 diluted net earnings per share) and adjusted EBITDA of $6.1 billion, both down from record levels in 2022[7]. - Adjusted EBITDA for the full year 2023 decreased by 36% to $1,459 million, primarily due to lower gross margins for crop nutrients and crop protection products[23]. - Net earnings for Q4 2023 were $176 million, a significant drop from $1,118 million in Q4 2022, reflecting a decline of 84%[70]. - Adjusted net earnings for the twelve months ended December 31, 2023, were $2,206 million, down from $7,124 million in 2022, with diluted earnings per share of $4.44 versus $13.19[75]. - The company reported a comprehensive income of $1,363 million for the twelve months ended December 31, 2023, down from $7,510 million in 2022[104]. - Adjusted EBITDA for the three months ended December 31, 2023, was $1,075 million, compared to $2,095 million in the same period of 2022, a decrease of about 48%[119]. Sales and Revenue - Retail adjusted EBITDA for 2023 was $1.5 billion, a decrease attributed to lower gross margins for crop nutrients and crop protection products[7]. - Total sales for the twelve months ended December 31, 2023, were $29,056 million, a decrease of 23.2% compared to $37,884 million in 2022[103]. - Net sales for the twelve months ended December 31, 2023, were $28,082 million, down from $37,012 million in 2022, reflecting a decline of 24.0%[120]. - Sales volumes for nitrogen products were higher in Q4 2023, driven by increased UAN production, despite lower ammonia availability[37]. - Retail sales for crop nutrients decreased by 22% to $1,808 million in Q4 2023 compared to $2,320 million in Q4 2022, with gross margin declining from 19% to 15%[20]. - Crop protection products sales fell by 2% to $960 million in Q4 2023, with gross margin decreasing from 42% to 35%[20]. - Total sales for the three months ended December 31, 2023, were $5,664 million, down from $7,533 million in the same period of 2022, a decrease of approximately 25%[117]. Market Outlook - The company expects retail adjusted EBITDA guidance for 2024 to be between $1.65 billion and $1.85 billion, assuming increased gross margins across major product lines[10]. - Potash sales volume guidance for 2024 is projected between 13.0 and 13.8 million tonnes, reflecting demand growth in offshore markets[16]. - Nitrogen sales volume guidance for 2024 is estimated between 10.6 and 11.2 million tonnes, with expectations of higher operating rates at US and Trinidad plants[16]. - Global potash demand is expected to recover towards trend levels in 2024, with full-year shipments projected between 68 to 71 million tonnes[11]. - Nutrien anticipates a tight nitrogen supply and demand balance in 2024, with net imports down approximately 55% compared to the three-year average[11]. Impairments and Costs - The company recorded a non-cash impairment of $774 million in 2023, primarily related to Retail – South America goodwill and Nitrogen and Phosphate property, plant, and equipment[18]. - The company recognized a $465 million non-cash impairment related to goodwill of South American Retail assets in 2023[25]. - A non-cash impairment of $76 million was recognized for Trinidad property, plant, and equipment in Q4 2023 due to higher expected natural gas costs[37]. - The ammonia controllable cash cost of product manufactured per tonne increased in 2023, primarily due to lower ammonia production[37]. Expenses and Costs Management - Selling expenses increased by 40% to $7 million in Q4 2023 compared to $5 million in Q4 2022[42]. - General and administrative expenses rose by 5% to $104 million in Q4 2023, and by 12% to $364 million for the full year 2023[42][45]. - Finance costs increased by 13% to $213 million in Q4 2023 and by 41% to $793 million for the full year 2023[44][46]. - The effective tax rate on adjusted earnings for 2023 was 34%, up from 25% in 2022[44][46]. - Other expenses surged by 140% to $161 million in Q4 2023, driven by higher asset retirement obligations and foreign exchange losses[42][45]. Shareholder Returns - Nutrien returned $2.1 billion to shareholders in 2023 through dividends and share repurchases, with a quarterly dividend increase to $0.54 per share[7]. - The company repurchased 13,378,189 shares at a cost of $374 million during 2023[117]. - A dividend per share of $0.53 was declared for Q4 2023, an increase from $0.48 in 2022, with a total estimated dividend payment of $265[140]. Production and Operational Efficiency - Natural gas costs per MMBtu decreased by 55% in Q4 2023 to $3.30 from $7.44 in Q4 2022, contributing to lower production costs[35]. - Ammonia production adjusted operating rate improved to 91% in Q4 2023 from 83% in Q4 2022, indicating better production efficiency[62]. - Retail cash operating coverage ratio improved to 68% in 2023 from 55% in 2022, reflecting stronger cash flow management[58]. - The company plans to focus on operational efficiency and cost management in the upcoming year to improve margins and profitability[79].

............ ............. ............ ............ . . This presentation contains certain information which constitutes "financial outlook" and "future-oriented financial information" under applicable Canadian securities laws, including, adjusted net earnings per share, adjusted EBITDA (consolidated and by segment), cash provided by operating activities, depreciation and amortization and effective tax rate on adjusted earnings guidance ranges, the purpose of which is to assist readers in understanding our ...

Nutrien Ltd. (NYSE:NTR) Q3 2023 Earnings Conference Call November 2, 2023 10:00 AM ET Company Participants Jeff Holzman - Vice President, Investor Relations Ken Seitz - President and Chief Executive Officer Pedro Farah - Chief Financial Officer Mark Thompson - Executive Vice President and Chief Commercial Officer Jeff Tarsi - Executive Vice President and President, Global Retail Trevor Williams - Executive Vice President and President, Nitrogen and Phosphate Jason Newton - Chief Economist Conference Call Pa ...

Exhibit 99.1 NYSE, TSX: NTR News Release November 1, 2023 – all amounts are in US dollars except as otherwise noted Nutrien Reports Third Quarter 2023 Results Delivered record potash sales volumes in the third quarter and benefited from strong crop nutrient demand in North America. SASKATOON, Saskatchewan - Nutrien Ltd. (TSX and NYSE: NTR) announced today its third quarter 2023 results, with net earnings of $82 million ($0.15 diluted net earnings per share). Third quarter 2023 adjusted net earnings per shar ...

Forward-Looking Statements Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control and are difficult to predict, which could cause actual results or events to differ materially from results or events expressed in such forward-looking statements. Such events or circumstances include, but are not limited to: general global economic, market and business conditions; failure to complete announced and future acquisitions or divestitures at all or on the ...

Company Participants Conference Call Participants Operator I would now like to turn the conference over to Jeff Holzman, Vice President of Investor Relations. Please go ahead. Thank you, operator. Good morning and welcome to Nutrien???s second quarter 2023 earnings call. As we conduct this call, various statements that we make about future expectations, plans and prospects contain forward-looking information. Certain material assumptions were applied in making these conclusions and forecasts. Therefore, act ...

Exhibit 99.1 NYSE, TSX: NTR News Release August 2, 2023 – all amounts are in US dollars except as otherwise noted Nutrien Reports Second Quarter 2023 Results Revising full-year guidance to reflect factors impacting offshore potash sales through Canpotex and lower global potash prices than previously anticipated. Announcing strategic actions expected to reduce controllable costs and enhance free cash flow. SASKATOON, Saskatchewan - Nutrien Ltd. (TSX and NYSE: NTR) announced today its second quarter 2023 resu ...

Good morning. Thank you for joining us today. Nutrien???s first quarter results reflect the impact of structural supply issues and shifting buying patterns that have contributed to an unprecedented period of market volatility. We delivered adjusted EBITDA of $1.4 billion the second highest for any first quarter on record. Continuing to demonstrate the advantages of our flexible low cost production assets and global distribution network. We invested $700 million to sustain and grow our assets and returned ov ...

Exhibit 99.1 NYSE, TSX: NTR News Release May 10, 2023 – all amounts are in US dollars except as otherwise noted Nutrien Reports First Quarter 2023 Results Delivered second highest net earnings of any first quarter on record, advanced strategic initiatives and returned $1.1 billion to shareholders through dividends and share repurchases. Full-year guidance reflects expectation for fertilizer benchmark prices to stabilize near mid-cycle values. SASKATOON, Saskatchewan - Nutrien Ltd. (TSX and NYSE: NTR) announ ...

Nutrien Ltd (NYSE:NTR) BMO Global Metals, Mining and Critical Minerals Conference February 28, 2023 1:30 PM ET Company Participants Ken Seitz - President and Chief Executive Officer Conference Call Participants Joel Jackson - BMO Capital Markets Joel Jackson Okay. Well, people will filter in as the lunch is end. So let's kick off the fertilizer discussions at this conference. First, presenter this afternoon is Nutrien, it's the global -- the largest global fertilizer producer, also is a very large retail fa ...