Agrium Reports First Quarter Earnings of $141 Million

Agrium Inc. (TSX:AGU, NYSE:AGU) announced their financial results for Q1, including  net earnings of  $141 million, down from net earnings of $155-million in the first quarter of 2012.

As quoted in the press release:

The 2013 first quarter results included a $16-million ($0.09 diluted earnings per share) share-based payments expense. Excluding this item, net earnings would have been $153-million ($1.03 diluted earnings per share).

Agrium’s President and CEO, Mike Wilson, said:

The strength in Agrium’s first quarter results clearly demonstrates the benefits and synergies derived from our integrated strategy as we delivered a record $351-million in Adjusted EBITDA² for the first quarter. This was supported by Wholesale and Retail achieving their second highest first quarter EBITDA on record, despite the late start to the spring season across North America. The continuation of cold, wet weather in April is likely to result in a somewhat compressed spring application season this year.

To view the whole press release, click here.