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Nutrien Ltd.: Is Brazil Finally Turning From a Drag Into a Strategic Reset Opportunity?

Nutrien’s 2025 performance showcased a balanced mix of strategic execution and market dynamics, which has implications for investors weighing the company’s near to mid-term prospects. Nutrien reported significant growth in its adjusted EBITDA, which rose by 13% to $6.05 billion. This increase was largely driven by record fertilizer sales volumes and a strong supply chain, allowing the company to meet elevated demand despite a condensed fall application season in North America. One of the notable achievements was in the potash segment, where Nutrien achieved a mine automation rate of 49%, helping to maintain its production costs below targeted levels at $58 per tonne. Positively, the company has actively worked towards optimizing its operations and capital efficiency. Nutrien surpassed its cost savings target, achieving $200 million in annual savings and reduced capital expenditures below its Investor Day guidance to $2 billion.