Nutrien cuts full-year profit forecast on lower potash demand, prices

(Reuters) -Top fertilizer maker Nutrien Ltd on Wednesday cut its full-year adjusted earnings forecast for the second time this year as it expects lower demand and prices for potash.

Rising costs of energy including natural gas, used as a feedstock to make nitrogen-based fertilizers, is hurting fertilizer makers who are already grappling with cooling prices of crop nutrients from the near-record highs they touched earlier this year as farmers cut demand to rein in costs.

Adjusted earnings for 2022 are now expected to be in the range of $13.25 to $14.50 per share, from its previous forecast of $15.80 to $17.80 a share.

Nutrien's third-quarter profit more than doubled to $1.58 billion, or $2.94 a share, in the three months ended Sept.