"The war in the Middle East has caused significant disruptions to the global energy and fertilizer markets," Yara writes in an interim report.
“From mid-July onward, buying activity appears to be picking up again in key markets, while the renewed escalation of the conflict in the Middle East is creating further concerns about supply ahead of next season,” the company adds.
Net income rose to $545 million, up from $413 million in the same quarter last year. Analysts had expected net income of $574 million, according to Bloomberg.
Revenue in the quarter rose to $4.4 billion, up from $3.9 billion. Yara's shipments fell to 7.1 million tons from 8.3 million in the second quarter of last year.
