NTR's Potash Volumes Hit Record High: Can Demand Keep Driving Growth?

Nutrien Ltd.’s NTR second-quarter and first-half 2025 potash sales volumes reached record highs, driven by potash affordability and robust consumption in North America and major offshore markets. It registered potash sales volumes of roughly 3.99 million tons in the second quarter, up 12% from the prior-year quarter. 

The company is expected to maintain the momentum in the second half, driven by strong demand. Favorable grower economics, improved affordability and low inventory levels are driving potash demand globally. 

Nutrien raised its potash sales volume guidance to 13.9-14.5 million tons, driven by anticipated higher global demand. Its potash shipments in the third quarter are expected to be backed by strong uptake on its summer fill program in North America and consistent demand in Brazil. NTR also increased its global potash shipment forecast to 73-75 million tons for full-year 2025, factoring in solid demand. 

Among its peers, The Mosaic Company MOS saw improved potash sales volumes in the second quarter, thanks to a pickup in production. Mosaic’s potash sales volume totaled 2.3 million tons, improving from 2.1 million tons in the prior quarter.  For full-year 2025, Mosaic raised its potash production volume guidance to between 9.3 million and 9.5 million tons.

Intrepid Potash, Inc. IPI saw a 25% increase in potash sales volumes to 69,000 tons. The solid increase in Intrepid Potash’s sales volumes was driven by a rise in production. Intrepid Potash targets potash production of 270,000-280,000 tons for full-year 2025.

NTR’s Price Performance, Valuation & Estimates

Nutrien has gained 26.8% year to date compared with the Zacks Fertilizers industry’s rise of 20.1%.

From a valuation standpoint, NTR is currently trading at a forward 12-month earnings multiple of 12.84, a modest 2.6% discount to the industry average of 13.19X. It carries a Value Score of A.

The Zacks Consensus Estimate for NTR’s 2025 and 2026 earnings implies a year-over-year rise of 26.2% and 1%, respectively. The EPS estimates for 2025 and 2026 have been trending higher over the past 60 days.

NTR stock currently carries a Zacks Rank #3 (Hold). 

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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This article originally published on Zacks Investment Research (zacks.com).

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