Saskatoon-based Nutrien has released its financials for 2023 which include net earnings in the fourth quarter of the year at $176 million U.S., which is down from $1.1 billion in the last quarter of 2022, and 84 per cent drop. President and CEO, Ken Seitz explains that 2022 was a record year for the company.

During the fourth quarter of 2023, Seitz says the fertilizer market was strong in North America, driven by improved affordability, an extended fall application season and low inventories. It led to record fourth-quarter potash deliveries, increased crop nutrient sales volumes globally and strong cash flow from Nutrien’s operations.
The company expects to deliver higher fertilizer sales volumes and retail earnings this year, because of increased crop input market stability and demand.