Nutrien’s fourth quarter and full-year financial results for 2024 show lower net earnings than the fertilizer giant generated in 2023.

Last year, Nutrien produced net earnings of 700 million U.S. dollars, down from $1.3 billion in 2023.

Quarter four of 2024 garnered $118 million, also down from $176 million in the last three months of 2023. However, in both time periods, the earnings before interest, taxation, depreciation and amortization are cited at $1.1 billion.

When looking through a year-over-year lens, 2024 saw retail earnings rise to $1.7 billion, while potash earnings decreased $1.8 billion due to lower net selling prices offsetting increased sales volumes. Overall nitrogen revenue was $1.9 billion, which remains relatively consistent with 2023, as lower net selling prices offset higher sales volumes and lower natural gas costs.

Uranium mining outfit Cameco also saw its net earnings fall from 2023 levels last year, according to the company’s 2024 financial results.

Annual net earnings in 2024 totaled $172 million, down from $361 million in 2023. The report indicates that this is mainly due to the impact of purchase accounting related to the $7.9 billion Westinghouse acquisition. Westinghouse Electric is a nuclear plant equipment manufacturer.

On the bright side, however, fourth quarter net earnings were up from 2023 numbers, with $135 million generated in 2024 and just $80 million earned in 2023.