Q1 2025 Fertilizer Manufacturers Results Highlights and Analysis

Index

1. Financial Snapshots and Charts

2. Executive Commentary

   a. Global Fertilizer Demand Is Tightening

   b. Premiumization: Biologicals and Value-Added Fertilizer Segments a Growing Focus

   c. Tariffs

3. Company

   a. Nutrien

   b. Yara

   c. Mosaic

   d. CF Industries

   e. ICL

About Upstream Ag Professional Agribusiness Breakdowns

Each quarter in Upstream Ag Professional, we shrewdly analyze publicly traded agribusiness earnings, cutting through the noise to highlight the key takeaways that matter for those of us working in the agriculture industry.

By breaking down earnings results and executive commentary, I provide the strategic insights agribusiness professionals need to stay ahead of their competitors, their suppliers and ultimately their customers.

The below is just one component— more deep dives on the most influential agribusinesses, their market positioning, and strategic initiatives will be published as results become available.

If you want to satiate your curiosity and be the best-informed in the industry, you’re in the right place.

Want to dive deeper?

Access the financials I have compiled to be able to effectively look at major agribusinesses in detail here: Agribusiness Financial Data Q4 2022 to Q4 2024 (Excel Workbooks)

Other Related Breakdowns:

Q1 2025 Crop Protection & Seed Company Results: Themes, Highlights and Analysis - Upstream Ag Professional

What Agribusiness Executives Are Saying About Tariffs Right Now (May 2025) - Upstream Ag Professional

Financial Snapshots

Total Revenue

^{(all below images sourced from Finchat.io)}

EBITDA

EBITDA Margin

Return on Invested Capital

Gross Margin

SG&A to Revenue Ratio

Inventory Turnover (Days)

a. Global Fertilizer Demand Is Tightening

Global fertilizer markets are showing a convergence of strong demand recovery and constrained supply, especially in potash and nitrogen.

Nutrien highlighted global potash demand at 71–75 million tonnes:

b. Premiumization: Biologicals and Value-Added Fertilizer Segments a Growing Focus for Mosaic, Yara, Nutrien and ICL

Mosaic Biosciences revenue more than doubled YoY and is tracking toward $70M in 2025 and profitability for the segment, with 60% gross margin on internally developed products. Mosaic is eyeing >$200M EBITDA from Biosciences within five years.

Nutrien forecasted 8–9% gross margin growth in its proprietary crop nutrition and biostimulant products, with 12 new products launched in Q1 and 20 more planned by 2026.

CFO Mark Thompson stated the following at the BMO Farm to Market Conference:

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