CALGARY, Alberta -- Agrium Inc. (TSX and NYSE: AGU) today said that it expects second quarter results to be at, or slightly above, the upper end of its previously provided guidance range of $1.45 to $1.55 diluted earnings per share.

“Although the quarter is not over, we are seeing an extended application season and increased side-dress activity supporting both our Retail and Wholesale operations, and as a result are optimistic about second quarter results,” said Mike Wilson, Agrium President and CEO.

About Agrium
Agrium Inc. is a major Retail supplier of agricultural products and services in North and South America, a leading global Wholesale producer and marketer of all three major agricultural nutrients and the premier supplier of specialty fertilizers in North America through our Advanced Technologies business unit.  Agrium’s strategy is to grow across the value chain through acquisition, incremental expansion of its existing operations and through the development, commercialization and marketing of new products and international opportunities.  Our strategy places particular emphasis on growth opportunities that both increase and stabilize our earnings profile in the continuing transformation of Agrium.

Forward-Looking Statements

Certain statements in this press release constitute forward-looking statements.  Such forward-looking statements involve known and unknown risks and uncertainties, including those referred to in the management discussion and analysis section of the Corporation’s most recent annual report to shareholders, which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. 

The major assumptions made in monitoring our second quarter guidance include, but are not limited to:

• our retail fertilizer sales volumes and margins above 2006 levels for the second quarter;
• second quarter wholesale sales volume above 2006 levels;
• a continuation of tight world fertilizer markets which will support higher prices and margins on wholesale sales volumes;
• weather patterns that continue to support a longer than normal fertilizer application season in most North American regions;
• no major plant shutdowns or outages at our wholesale manufacturing facilities during the second quarter;
• the Argentine urea price cap to growers of $300 per tonne continuing through the second quarter;
• the average NYMEX gas price for the second quarter approximating $7.60/MMBtu;
• the exchange rate for the Canadian dollar, expressed in U.S. dollars, averaging C$1.10 to U.S.$1.00 for the second quarter;
• realized synergies relating to the acquisition of Royster-Clark consistent with amounts previously disclosed; and,
• stock-based compensation expenses in the second quarter reflecting the impact of continued strengthening in Agrium’s stock price and performance.

Agrium disclaims any intention or obligation to update or revise any forward-looking information as a result of new information or future events.

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