On an adjusted basis, the potash producer earned US$1.11 per share for the quarter ended March 31, compared with estimates of US$1.50, according to Refinitiv data. Earlier this month, peer Mosaic also missed profit estimates.) was lower after saying its net earnings attributable to shareholders for the first quarter were $112.5-million, up 18.4 per cent from $95.0-million a year earlier.
Calling the release “strong,” Benoit Poirier, an analyst at Desjardins Securities, said: “At first glance, we are pleased with the stronger-than-expected results and reaffirmed guidance, which demonstrate management’s ability to unlock value from past acquisitions while continuing to drive strong organic growth.
Funds from operations totalled $131.3-million, or 44 cents per diluted unit, up from $130.6-million a year ago, or 42 cents per diluted unit. Quebecor’s Videotron subsidiary completed its acquisition of Freedom Mobile in April for a total purchase price of $2.85-billion. The company plans to raise the price of the ad-free Disney+ service again this year and it also will remove certain films and TV shows from its services to lower costs.
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