Agrium reports better-than-expected Q4 profit, but foresees weaker 2016

Agricultural products producer Agrium Inc has reported positive headline earnings for the three months ended December 31, beating market expectations convincingly. However, its earnings forecast for the full-year 2016 came in below expectations and weighed on its share price performance on Tuesday. The Calgary, Alberta-based producer of nitrogen, potash and phosphate fertilisers reported adjusted net earnings of $209-million, or $1.52 a share, beating Wall Street analyst expectations of $1.38 a share. For the full year, Agrium reported adjusted earnings of $1.02-billion, or $7.25 a share, compared with analyst expectations of $7.01 a share.