Nutrien Ltd

Nutrien Limited's NTR shares have rallied 17.2% over the past month, outpacing the Zacks Fertilizers industry's 16.8% growth over the same period, on strong fertilizer market fundamentals, higher potash and nitrogen prices and improved cost efficiency. First-half 2026 potash sales volumes reached a record 7.45 million tons, and full-year potash sales volume guidance was raised to 14.2-14.8 million tons, while management expects global potash shipments of 74-77 million tons in 2026. Potash average net selling price rose 13% year over year to $266 per ton in the first half and nitrogen average net selling price climbed 14% to $416 per ton, lifting Potash adjusted EBITDA 15% to $1.24 billion and Nitrogen adjusted EBITDA 4% to $1.12 billion. Proprietary products gross margin increased 18% year over year to $843 million, helping Retail adjusted EBITDA rise 4% to $1.24 billion, with 2026 Retail adjusted EBITDA guidance maintained at $1.75-$1.95 billion. Management lowered 2026 capital expenditures guidance to $1.95-$2.05 billion from $2-$2.1 billion, citing capital efficiency and structural free cash flow growth, and NTR currently carries a Zacks Rank #3 (Hold).

Nutrien reported first-half adjusted EBITDA of $3.5 billion, up 6% from a year earlier, driven by record potash volumes and proprietary-product margin growth. The company raised its 2026 potash sales-volume guidance to 14.2 million to 14.8 million tons and maintained its global potash shipment forecast of 74 million to 77 million tons. Nitrogen segment adjusted EBITDA was $635 million in the second quarter, while retail adjusted EBITDA rose 4% to $1.24 billion in the first half, supported by a 10% increase in proprietary crop-nutrient gross margin. Nutrien cut its 2026 capital-expenditure guidance to $1.95 billion to $2.05 billion, increased its share-repurchase pace to about $75 million per month, and is evaluating strategic alternatives for its phosphate business, Trinidad nitrogen operations, and parts of its Brazilian retail business.

Zacks Investment Research has highlighted Bunge Global, Deere & Company, and Nutrien as three AgTech and food innovation stocks positioned to benefit from the modernization of agriculture. Bunge, a Zacks Rank #1 Strong Buy, is expanding in plant-based proteins and specialty ingredients following its acquisition of IFF's soy protein concentrate business, while its combination with Viterra strengthens global supply-chain capabilities. Deere, rated Zacks Rank #3 Hold, continues to advance precision agriculture with technologies like See & Spray and a connected digital ecosystem supported by a Starlink partnership. Nutrien, also a Zacks Rank #3 Hold, is leveraging proprietary crop inputs, its Echelon digital platform, and low-cost potash and nitrogen assets to support smarter farming practices. The broader AgTech and food innovation theme encompasses companies across the value chain, including Ingredion and Corteva, as the industry responds to weather uncertainty, supply chain complexity, and shifting consumer preferences.