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Cautious Outlook for Yara International Amid Weak Free Cash Flow and EPS Miss, Despite Strong Crop Nutrition Deliveries

Cautious Outlook for Yara International Amid Weak Free Cash Flow and EPS Miss, Despite Strong Crop Nutrition Deliveries

Lisa De Neve, an analyst from Morgan Stanley, maintained the Hold rating on Yara International (0O7DResearch Report). The associated price target is NOK365.00.

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Lisa De Neve’s rating is based on several factors, primarily focusing on Yara International’s financial performance in the recent quarter. The company’s free cash flow (FCF) generation was weaker than expected, and there was a significant miss in adjusted earnings per share (EPS). This was compounded by special items like restructuring and pension plan settlements, which negatively impacted the bottom line.
Despite these challenges, Yara International showed strength in its Crop Nutrition deliveries, particularly in European nitrates, and maintains a positive outlook on the nitrogen market for the first half of 2025. However, concerns remain regarding free cash flow generation, capital allocation towards clean ammonia projects, and overall portfolio optimization. Additionally, higher gas costs in the upcoming quarters add to the cautious stance, even though the fundamentals for the urea market appear strong due to favorable market conditions.

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