Agrium Inc. (AGU) announced late Monday that it expects its first-half earnings to be at or near the top end of its guidance range due to strong results from its crop input business.
The Calgary-based agricultural products company said it expects first-half results to come in at the high end of its previously announced range of $5.50 and $6.10 diluted earnings per share.
It also expects its second-quarter results to come in near the top of its $4.18 to $4.78 range.
“The outlook remains very positive, supported by the strong global grain prices and a balanced to tight international nutrient supply demand situation,” said Mike Wilson, Agrium’s president and CEO, in a statement.
The news follows Agrium’s announcement last week that it would be raising its semi-annual dividend to 50 cents a share, up from 22.5 cents.
Shares of Agrium were up 1.1% Tuesday.