Utilizing competitive advantages to deliver scalable growth.
| | ● | | Targeting potash and nitrogen sales volume growth of approximately 2.0 to 3.0 million tonnes by 2026, compared to 2023 levels. |
| | ● | | Targeting Retail adjusted EBITDA of $1.9 to $2.1 billion in 2026, including a goal of $1.4 billion in gross margin from our proprietary products portfolio. |
Maintaining disciplined approach to cost and capital management.
| | ● | | Intend to reduce controllable costs across our operations and corporate functions by approximately $200 million by 2026 and maintain annual average capital expenditures of $2.2 to $2.3 billion through 2026. |
| | ● | | Expect to generate strong cash flow through the cycle, providing the opportunity to pursue high conviction capital deployment opportunities, including meaningful returns to shareholders. |
Nutrien will provide more detail on its strategic priorities, 2026 performance targets and capital allocation plans at its Investor Day this morning.
The event will begin at 10:00 a.m. EDT and conclude at approximately 12:30 p.m. EDT. To view the live webcast and access the presentation materials, visit the investor relations page of Nutrien’s website at https://www.nutrien.com/investors/events/nutrien-2024-investor-day. A replay of the webcast will be available following the event.
Forward-Looking Statements
Certain statements in this news release constitute “forward-looking information” or “forward-looking statements” (collectively, “forward-looking statements”) under applicable securities laws including Nutrien’s strategic priorities and performance targets; our expectations for quality of earnings and free cash flow; our intention to increase asset efficiency including our expectations for potash automation, nitrogen reliability and efficiency programs as well as optimizing our Retail network and margin improvement plans in Brazil; our targets for potash and nitrogen sales volumes and our target for Retail adjusted EBITDA by the end of 2026 as well as our goal of $1.4 billion in proprietary products gross margin by the end of 2026; our targets to reduce controllable costs by 2026 and to maintain annual average capital expenditures through 2026; and our expectations for cash flow through the cycle and capital deployment opportunities. Forward looking statements in this news release are based on certain key expectations and assumptions made by Nutrien, many of which are outside of our control including but not limited to: that future business, regulatory and industry conditions and global economic conditions will be within the parameters expected by us, including with respect to margins, demand, supply, energy and commodity prices, and availability and cost of labor and technology. Although Nutrien believes that the expectations and assumptions on which such forward looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Nutrien can give no assurance that they will prove to be correct. Forward looking statements are subject to various risks and uncertainties which could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release including, but not limited to: general global economic, market, industry, and business conditions including
