Why Is Nutrien (NTR) Up 1% Since Last Earnings Report?

Core Viewpoint - Nutrien's recent earnings report shows a mixed performance with profits declining year-over-year, while adjusted earnings per share exceeded estimates, indicating potential resilience despite revenue challenges [2][10]. Financial Performance - Nutrien reported profits of $392 million or 78 cents per share in Q2 2024, down from$448 million or 89 cents in the same quarter last year [2]. - Adjusted earnings per share were $2.34, beating the Zacks Consensus Estimate of$2.13 [2]. - Sales fell approximately 13% year-over-year to $10,156 million, missing the Zacks Consensus Estimate of$10,893.1 million [2]. Segment Highlights - Nutrien Ag Solutions (Retail) segment sales declined 12% year-over-year to $8,074 million, primarily due to lower selling prices [3]. - The Potash division experienced a 25$756 million, falling short of the estimate of $860.3 million [4]. - The Nitrogen segment posted sales of$1,028 million, down about 15% year-over-year, slightly below the estimate of $1,033.8 million [5]. - The Phosphate segment generated sales of$394 million, down around 22% year-over-year, exceeding the estimate of $233.3 million [6]. Financial Position - At the end of the quarter, Nutrien had cash and cash equivalents of$1,004 million, up approximately 36% year-over-year [7]. - Long-term debt was $9,399 million, down nearly 1$1,807 million in the reported quarter [7]. Guidance - Retail adjusted EBITDA guidance has been revised downward to a range of $1.5-$1.7 billion due to market instability in Brazil and delayed planting in North America [7]. - Potash sales volume guidance has been increased to 13.2-13.8 million tons, driven by expectations of higher global demand in 2024 [7]. - Nitrogen sales volume guidance has been narrowed to 10.7-11.1 million tons, while Phosphate sales volume guidance has been lowered to 2.5-2.6 million tons [8]. Market Sentiment - There has been a downward trend in estimates, with the consensus estimate shifting down by 17.11% [10]. - Nutrien has a Zacks Rank 3 (Hold), indicating expectations for an in-line return from the stock in the coming months [12]. VGM Scores - Nutrien has a Growth Score of B, a Momentum Score of D, and a Value Score of A, placing it in the top 20% for the value investment strategy [11]. - The aggregate VGM Score is A, suggesting overall strong performance across multiple investment strategies [11].