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Agrium Inc : Agrium reports strong third quarter results, expects record earnings year

11/03/2011 | 08:19am US/Eastern

CALGARY, Alberta -- Agrium Inc. (TSX and NYSE: AGU) announced today consolidated net earnings ("net earnings") of $293-million ($1.85 diluted earnings per share) for the third quarter of 2011, compared with the net earnings of $61-million in the third quarter of 2010 ($0.39 diluted earnings per share).

"Results from our Retail business were particularly strong this quarter, as we achieved record sales and our second highest earnings for a third quarter. Agrium's Wholesale results were also the second highest on record for a third quarter, due to yet another quarter of excellent margins supported by strong crop nutrient prices. We expect the strength in our business to extend through the fall application season and into 2012, due to the continuation of tight agricultural fundamentals providing economic incentive for growers to optimize crop acreage, yields and crop inputs 1," said Mike Wilson, Agrium President and CEO.

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