We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Agrium (AGU) to Purchase Cargill's U.S. Ag-Retail Business
Read MoreHide Full Article
Agrium Inc. has announced a purchase agreement whereby its Crop Production Services ("CPS") agreed to acquire Cargill AgHorizons’ 18 Ag-retail locations in the U.S. with annual revenues of more than $150 million. The outlets are located in the states of Nebraska, South Dakota, Minnesota, Wisconsin, Michigan and Indiana. The transaction does not involve Cargill's Canadian crop input retail business.
With these acquisitions, Agrium aims at growing its North-American Ag-retail business, mainly in the highly desirable U.S. Corn Belt. The locations are in regions where Agrium has limited presence. The acquisition will enable Agrium to unveil its products and services, and leverage its extensive distribution network.
Cargill will aim at being the world's leading merchant of grain and oilseeds and will enable the farmers to succeed by ensuring they remain competitive in the global market and be highly efficient in getting products from origins to destinations.
The transaction is expected to close by the end of third-quarter 2016 and is subject to customary closing conditions, and regulatory clearances.
Agrium, which is among the prominent fertilizer companies, along with Mosaic (MOS - Free Report) , Potash Corp. and CF Industries (CF - Free Report) , posted net earnings (attributable to its equity holders) of $2 million or 2 cents per share in first-quarter 2016, roughly an 83% plunge from $12 million or 8 cents per share recorded a year ago. The bottom line was affected by weaker selling prices across all nutrients.
Barring one-time items other than stock-based payment expense (post-tax) of 2 cents per share, Agrium’s adjusted earnings came in at 3 cents per share. Analysts polled by Zacks were expecting a loss of 7 cents on an average.
Revenues decreased 5.1% year over year to $2,725 million in the reported quarter. The top line also missed the Zacks Consensus Estimate of $2,752 million.
Agrium currently holds a Zacks Rank #3 (Hold).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
See More Zacks Research for These Tickers
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Agrium (AGU) to Purchase Cargill's U.S. Ag-Retail Business
Agrium Inc. has announced a purchase agreement whereby its Crop Production Services ("CPS") agreed to acquire Cargill AgHorizons’ 18 Ag-retail locations in the U.S. with annual revenues of more than $150 million. The outlets are located in the states of Nebraska, South Dakota, Minnesota, Wisconsin, Michigan and Indiana. The transaction does not involve Cargill's Canadian crop input retail business.
With these acquisitions, Agrium aims at growing its North-American Ag-retail business, mainly in the highly desirable U.S. Corn Belt. The locations are in regions where Agrium has limited presence. The acquisition will enable Agrium to unveil its products and services, and leverage its extensive distribution network.
Cargill will aim at being the world's leading merchant of grain and oilseeds and will enable the farmers to succeed by ensuring they remain competitive in the global market and be highly efficient in getting products from origins to destinations.
The transaction is expected to close by the end of third-quarter 2016 and is subject to customary closing conditions, and regulatory clearances.
AGRIUM INC Price
AGRIUM INC Price | AGRIUM INC Quote
Agrium, which is among the prominent fertilizer companies, along with Mosaic (MOS - Free Report) , Potash Corp. and CF Industries (CF - Free Report) , posted net earnings (attributable to its equity holders) of $2 million or 2 cents per share in first-quarter 2016, roughly an 83% plunge from $12 million or 8 cents per share recorded a year ago. The bottom line was affected by weaker selling prices across all nutrients.
Barring one-time items other than stock-based payment expense (post-tax) of 2 cents per share, Agrium’s adjusted earnings came in at 3 cents per share. Analysts polled by Zacks were expecting a loss of 7 cents on an average.
Revenues decreased 5.1% year over year to $2,725 million in the reported quarter. The top line also missed the Zacks Consensus Estimate of $2,752 million.
Agrium currently holds a Zacks Rank #3 (Hold).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>