What were Yara's Q2 2024 net profit and sales figures, and how did they compare to prior periods and analyst expectations?

Yara reported a Q2 2024 net profit of $545 million, up from $413 million a year earlier and $327 million in Q1 2024, though it fell short of the S&P Capital IQ consensus of $572 million. Sales rose to $4.43 billion, compared to $3.95 billion in Q2 2023 and $4.26 billion in Q1 2024, but slightly missed consensus. EBITDA excluding special items was $906 million — a 39% year-on-year increase and flat sequentially — aligning with consensus, driven by enhanced margins, improvement initiatives, and cost discipline, which offset lower deliveries.

Why did Yara observe delayed fertilizer buying in Q2, and what signs indicate renewed demand in July?

Yara attributed delayed off-season buying in Q2 to volatile nitrogen prices caused by Middle East conflict-related disruptions — particularly the initial supply shock from the Strait of Hormuz blockage, which triggered a 'sharp increase in urea prices at the very end of the European buying season'; with most markets lacking immediate product needs, price volatility and uncertainty led to a slow start to the new Northern Hemisphere season. However, as of mid-July, Yara observed that 'significant buying remains, nitrogen imports are record low, and... buying activity appears to resurface in core markets.'

ChemBrief

Topics Daily Digest Tags

Yara flags July uptick in fertilizer buying as Q2 profit, sales improve

Jul 17, 2026

Yara International reported improved Q2 profits and sales, signaling a resumption of fertilizer buying in July. The company also announced a $1.3 billion acquisition of Gulf Coast Ammonia to enhance its strategic energy exposure.

chemweek

Yara flags July uptick in fertilizer buying as Q2 profit, sales improve

chemweek

2026-03-24

Yara shuts Australian ammonia plant for up to six weeks due to technical issues

2026-04-17

Indorama Announces $525M Fertilizer Project in Egypt

2026-04-25

Yara sticks to timeline for $9B US blue ammonia plant decision

2026-07-01

Air Products, Yara Exit Louisiana Blue Ammonia Project