Upstream Ag Professional - March 31st 2024
Essential news and analysis for agribusiness leaders
Welcome to the 35th Edition of Upstream Ag Professional
Index for the week:
Nutrien 2023 Annual Report Highlights and Analysis
GenerativeAI Strategy in Agriculture: Can We Learn Anything from Farm Management Software?
Telus Explains Proagrica Acquisition, The Future of Digital Ag Platforms
The State of Soil Testing
Rantizo® Introduces AcreConnect™ Software
Syngenta Crosses 100 million Digital Hectares
Brainpower vs. Horsepower: An Alternative Future for Ag Equipment
Winfield BioVerified Program
The B2B questions
Upstream Ag LLM Search and Audio Edition
Other Ag Articles
1. Nutrien 2023 Annual Report Highlights and Analysis - Upstream Ag Professional
Highlights:
Nutrien generated net earnings of $1.3 billion and adjusted EBITDA of $6.1 billion in 2023 on $29 billion in total revenue.
Revenue was down 23% from the record levels achieved in 2022 and EBITDA was down 50%.
Over 80% of Nutrien’s retail EBITDA comes from the United States.
Nutrien proprietary products contributed $1 billion in gross margin in 2023, which equated to 23% of total gross margins for the year.
Gross margin for proprietary plant nutritional and biostimulant product lines has grown at a compound annual growth rate of 15 percent over the last five years.
Proprietary seed revenue has grown by over 25 percent since 2021. Almost 40% of their seed gross margin comes from their proprietary seed line.
(Revenue and margin as percent of each segment)
The Nutrien business overview includes:
Overview
Nutrien Ag Solutions (Retail) Business
Retail Strategy - Highlight of the Nutrien Retail Strategy
Revenue and Margin Mix by Segment - KPI Chart
Proprietary Products Business - Continued Growth and Focus
Non Financial Metrics - Sustainability and Context
Nutrien Financial - Strategic Leverage Point
Potash Business Highlights
Nitrogen Business Highlights
Other (See and Spray implications on the Business) and Annual Report Stats
Final Thoughts