What caused Nutrien’s 631% year-over-year increase in Q1 net earnings?

Nutrien’s Q1 net earnings surged 631% year over year to $139 million due to supply disruptions from the Middle East war, which disrupted natural gas trade flows and drove nitrogen fertilizer prices sharply higher.

How did the Middle East conflict directly impact global urea, ammonia, and phosphate trade according to Nutrien’s CEO?

According to Nutrien’s President and CEO Ken Seitz, the Middle East conflict directly impacted over 30% of global urea trade and approximately 25% of ammonia and phosphate trade that relies on the Strait of Hormuz to access global markets.

Supply Disruptions Lift Nutrien’s Q1 Results

May 8, 2026

Nutrien reported Q1 net earnings of $139 million, up 631% year-over-year, driven by Middle East conflicts disrupting natural gas trade and raising fertilizer prices. Sales reached $6 billion amid tight potash markets and elevated feedstock costs.

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