Agrium Sees First-Half Earnings at High End of Range

By IndustrialsFOXBusiness

Agrium Inc. (NYSE: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.

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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.