As farmers face a drop in net farm income predicted to be 25 percent this year, some ag players seem to be walking away with a windfall.
Nutrien recently announced their second quarter 2024 results, with net earnings of $392 million. Second quarter 2024 adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were $2.2 billion, an increase of 17 percent.
“Nutrien benefited from improved retail margins, higher fertilizer sales volumes and lower operating costs in the first-half of 2024,” said Ken Seitz, Nutrien’s President and CEO in a company news release. Nutrien Retail’s adjusted EBITDA increased to $1.2 billion in the first half of 2024.
“It’s time to fight back, cut your fertilizer bill and use nutrients already in the field,” says Mitch Eviston, Founder and CEO of Meristem Crop Performance. “Farmers get sucked into paying for larger and larger multinationals that concern themselves more with Wall Street than all those Main Streets all across the Corn Belt. They won’t bring innovative products, because they need you, the farmer, to pay for those new buildings and corporate guys making $5 million a year.”
Eviston says he and his team are on a mission to put $100 per acre back into the pockets of American farmers this year with Meristem’s products.
“It’s time to take cost out and we have the keys to do that and unlock more bushels for less,” he says. “See your local Meristem dealer.”
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