Agrium AGU reported weak third-quarter results and is hoping for a break in the weather to bring fertilizer volume back to life in the fourth quarter. The third quarter was marked by sharp year-on-year declines in average selling prices in the wholesale segment and soft pricing and demand in the retail crop nutrient and crop protection lines. Agrium issued a very wide range for its fourth-quarter earnings per share target of $0.14-$0.44, underscoring the level of uncertainty created by what has been abnormally cold and wet fall weather across much of North America. This has kept growers out of their fields and put the current harvest on an unusually slow pace. Should the weather improve in coming weeks, there could still be time for farmers to get their crops out of their fields and put down fertilizer. But if recent weather patterns persist, most fertilizer applications will have to wait until spring. During its conference call, the firm reiterated that it remains fully committed to acquiring CF Industries CF and that it would have more to say on its next steps shortly. Meanwhile, Terra TRA has issued a formal rejection of CF's most recent bid, stating that it continues to believe it is inadequate and opportunistic. We suspect that Agrium may come out with a sweetened bid for CF in the coming days, but don't expect a change of tune from CF to follow.
Get our full take on
Agrium, Inc., CF Industries Holdings, Inc.Agrium, Inc., Terra Industries, Inc.
See our complete company report and outlook--including fair value estimate, consider buying and selling prices, risk rating, bull and bear arguments,
and star rating--with a free two-week Morningstar.com Premium Membership trial.
You will also get complete access to all 2,000 Stock Analyst Reports, 2,000 Mutual Fund Analyst Reports, and Morningstar's award-winning Portfolio Management and Screening tools.
Start my free trial
Learn more about Premium Membership
View Sample Analyst Report
Analyst Notes
11-20-09 | 10:46AM CF Delivers Knockout Punch
11-19-09 | 9:35AM Fertilizer Bout to Go Another Round
11-02-09 | 2:16PM CF Trades Currencies with New Bid
10-23-09 | 5:05PM Agrium Warns on 3Q
10-19-09 | 11:24AM Agrium and Terra Agree to Asset Sale
10-01-09 | 12:55PM Terra Rebuffs CF Yet Again
09-28-09 | 12:08PM CF Stays on Target
09-01-09 | 3:06PM Terra Sets a Date
08-12-09 | 8:55AM WASDE Strikes Bearish Note for Corn
08-05-09 | 1:06PM Better Days ahead for Agrium
07-20-09 | 4:12PM Potash Market Trying to Gain Traction
07-17-09 | 8:32AM Agrium Cuts Potash Prices
07-13-09 | 2:55PM Potash Sellers May Fall in Line
07-10-09 | 2:18PM Potash Prices Set to Drop
06-26-09 | 1:27PM Potash Slashes Forecast
06-23-09 | 9:02AM CF May Come to Table after Tender
06-17-09 | 11:10AM K+S Cuts European Potash Prices
11-20-09 | 10:46AM CF Delivers Knockout Punch
11-19-09 | 9:35AM Fertilizer Bout to Go Another Round
11-05-09 | 9:21AM Agrium Sweetens the Pot
11-02-09 | 2:16PM CF Trades Currencies with New Bid
10-23-09 | 5:05PM Agrium Warns on 3Q
10-19-09 | 11:24AM Agrium and Terra Agree to Asset Sale
10-01-09 | 12:55PM Terra Rebuffs CF Yet Again
09-28-09 | 12:08PM CF Stays on Target
09-01-09 | 3:06PM Terra Sets a Date
08-12-09 | 8:55AM WASDE Strikes Bearish Note for Corn
08-05-09 | 1:06PM Better Days ahead for Agrium
07-20-09 | 4:12PM Potash Market Trying to Gain Traction
07-17-09 | 8:32AM Agrium Cuts Potash Prices
07-13-09 | 2:55PM Potash Sellers May Fall in Line
07-10-09 | 2:18PM Potash Prices Set to Drop
06-26-09 | 1:27PM Potash Slashes Forecast
06-23-09 | 9:02AM CF May Come to Table after Tender
06-17-09 | 11:10AM K+S Cuts European Potash Prices
More Analyst Research
CF Industries Holdings, Inc. Full Analyst Report
Analyst Notes
11-20-09 | 10:46AM CF Delivers Knockout Punch
11-19-09 | 9:35AM Fertilizer Bout to Go Another Round
11-05-09 | 9:21AM Agrium Sweetens the Pot
11-02-09 | 2:16PM CF Trades Currencies with New Bid
10-27-09 | 12:45PM CF Nimble in 3Q
10-19-09 | 11:24AM Agrium and Terra Agree to Asset Sale
10-01-09 | 12:55PM Terra Rebuffs CF Yet Again
09-28-09 | 12:08PM CF Stays on Target
09-25-09 | 12:12PM Terra Takes Evasive Action
09-01-09 | 3:06PM Terra Sets a Date
08-12-09 | 8:55AM WASDE Strikes Bearish Note for Corn
08-05-09 | 1:28PM CF Takes Another Stab at Terra Deal
07-28-09 | 11:38AM CF Reports Resilient 2Q
07-13-09 | 2:55PM Potash Sellers May Fall in Line
06-26-09 | 1:27PM Potash Slashes Forecast
06-23-09 | 9:02AM CF May Come to Table after Tender
More Analyst Research
Agrium, Inc. Full Analyst Report
Analyst Notes
11-20-09 | 10:46AM CF Delivers Knockout Punch
11-19-09 | 9:35AM Fertilizer Bout to Go Another Round
11-02-09 | 2:16PM CF Trades Currencies with New Bid
10-23-09 | 5:05PM Agrium Warns on 3Q
10-19-09 | 11:24AM Agrium and Terra Agree to Asset Sale
10-01-09 | 12:55PM Terra Rebuffs CF Yet Again
09-28-09 | 12:08PM CF Stays on Target
09-01-09 | 3:06PM Terra Sets a Date
08-12-09 | 8:55AM WASDE Strikes Bearish Note for Corn
08-05-09 | 1:06PM Better Days ahead for Agrium
07-20-09 | 4:12PM Potash Market Trying to Gain Traction
07-17-09 | 8:32AM Agrium Cuts Potash Prices
07-13-09 | 2:55PM Potash Sellers May Fall in Line
07-10-09 | 2:18PM Potash Prices Set to Drop
06-26-09 | 1:27PM Potash Slashes Forecast
06-23-09 | 9:02AM CF May Come to Table after Tender
06-17-09 | 11:10AM K+S Cuts European Potash Prices
11-20-09 | 10:46AM CF Delivers Knockout Punch
11-19-09 | 9:35AM Fertilizer Bout to Go Another Round
11-05-09 | 9:21AM Agrium Sweetens the Pot
11-02-09 | 2:16PM CF Trades Currencies with New Bid
10-23-09 | 5:05PM Agrium Warns on 3Q
10-19-09 | 11:24AM Agrium and Terra Agree to Asset Sale
10-01-09 | 12:55PM Terra Rebuffs CF Yet Again
09-28-09 | 12:08PM CF Stays on Target
09-01-09 | 3:06PM Terra Sets a Date
08-12-09 | 8:55AM WASDE Strikes Bearish Note for Corn
08-05-09 | 1:06PM Better Days ahead for Agrium
07-20-09 | 4:12PM Potash Market Trying to Gain Traction
07-17-09 | 8:32AM Agrium Cuts Potash Prices
07-13-09 | 2:55PM Potash Sellers May Fall in Line
07-10-09 | 2:18PM Potash Prices Set to Drop
06-26-09 | 1:27PM Potash Slashes Forecast
06-23-09 | 9:02AM CF May Come to Table after Tender
06-17-09 | 11:10AM K+S Cuts European Potash Prices
More Analyst Research
Terra Industries, Inc. Full Analyst Report
Analyst Notes
11-20-09 | 10:46AM CF Delivers Knockout Punch
11-19-09 | 9:35AM Fertilizer Bout to Go Another Round
11-05-09 | 9:21AM Agrium Sweetens the Pot
11-02-09 | 2:16PM CF Trades Currencies with New Bid
10-22-09 | 5:01PM Terra Reports 3Q
10-19-09 | 11:24AM Agrium and Terra Agree to Asset Sale
10-01-09 | 12:55PM Terra Rebuffs CF Yet Again
09-28-09 | 12:08PM CF Stays on Target
09-25-09 | 12:12PM Terra Takes Evasive Action
09-01-09 | 3:06PM Terra Sets a Date
08-12-09 | 8:55AM WASDE Strikes Bearish Note for Corn
08-05-09 | 1:28PM CF Takes Another Stab at Terra Deal
07-24-09 | 8:56AM Falling Prices Hurt Terra in 2Q
06-23-09 | 9:02AM CF May Come to Table after Tender
| 
