BRIEF-Nutrien Posts Q2 EPS Of $1.47

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BRIEF-Nutrien Posts Q2 EPS Of $1.47
Credit: © Reuters.

July 30 (Reuters) - Nutrien Ltd NTR.TO :

* Q2 ADJUSTED EARNINGS PER SHARE $1.58

* Q2 EARNINGS PER SHARE $1.47 FROM CONTINUING OPERATIONS

* ANNOUNCED A 5 PERCENT INCREASE IN EXPECTED QUARTERLY DIVIDEND PAYOUT TO $0.45 PER SHARE

* "U.S. WEATHER IN FIRST HALF WAS SO SEVERE IT NEARLY ELIMINATED GLOBAL DEMAND GROWTH FOR CROP INPUTS"

* FULL-YEAR 2019 ADJUSTED NET EARNINGS PER SHARE GUIDANCE IS LOWERED TO $2.70 TO $3.00 PER SHARE

* "DEMAND FOR GRAINS AND OILSEEDS IS STILL GROWING, AND WITH LOWER CROP INVENTORIES AND HIGHER PRICES, WE EXPECT A STRONG REBOUND IN 2020"

* FULL-YEAR 2019 ADJUSTED EBITDA GUIDANCE IS LOWERED TO $4.35 BILLION TO $4.70 BILLION

* EXPECT TO ACHIEVE OVER $650 MILLION IN ANNUAL RUN RATE SYNERGIES BY END OF 2019

* QTRLY SALES $8.66 BILLION VERSUS $8.11 BILLION

* Q2 EARNINGS PER SHARE VIEW $1.60, REVENUE VIEW $8.63 BILLION -- REFINITIV IBES DATA

* SEES 2019 POTASH SALES 12.6 MILLION TONNES TO 13.0 MILLION TONNES

* UNDER AGRICULTURE AND RETAIL, SEES SOUTH AMERICAN GROWERS TO RESPOND TO U.S. PRODUCTION PROBLEMS BY INCREASING SOYBEAN AND CORN ACREAGE

* SEES 2019 NITROGEN SALES 10.6 MILLION TONNES TO 11.0 MILLION TONNES

* IN Q2 OF 2019, TERMINATED $500 MILLION ACCOUNTS RECEIVABLE SECURITIZATION PROGRAM

* NUTRIEN - ON AGRICULTURE AND RETAIL, ASSUMING FAVORABLE WEATHER CONDITIONS, SEE STRONG FALL FERTILIZER APPLICATIONS AS GROWERS BEGIN TO PLAN FOR 2020

* NUTRIEN - GLOBAL POTASH PRICES IN H1 2019 WERE LARGELY STABLE ACROSS KEY SPOT MARKETS AS IMPORT DEMAND WAS STRONG PARTICULARLY FROM CHINA AND BRAZIL

* NUTRIEN - DUE TO WEATHER AND POLICY-RELATED ISSUES IMPACTING SECOND HALF OF 2019, LOWERING PROJECTION OF GLOBAL POTASH DELIVERIES

* "NORTH AMERICAN SPRING POTASH DEMAND WAS IMPACTED BY WEATHER RELATED DELAYS AND LOWER CROP PLANTING"

* NUTRIEN - CHINESE POTASH DEMAND COULD BE DEFERRED BY IMPORT POLICIES, POTASH DEMAND IN INDIA IS BEING NEGATIVELY AFFECTED BY A BELOW NORMAL MONSOON

* DRY PHOSPHATE PRICES CONTINUE TO BE PRESSURED BY COMBINATION OF INCREASED SUPPLY FROM SAUDI ARABIA AND MOROCCO, EXPORTS FROM CHINA

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