Agrium delivers second highest quarterly earnings; sees strengthening fundamentals

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Release Date: 8/3/2010

CALGARY, Alberta -- Agrium Inc. (TSX and NYSE: AGU) announced today its second highest quarterly net earnings of $506-million ($3.20 diluted earnings per share) for the second quarter of 2010.

“Agrium delivered excellent second quarter results, the second highest in our history. This was particularly impressive given the record level of un-seeded acreage in Western Canada and excessive moisture conditions in the U.S. Corn Belt in late spring,” said Agrium President & CEO Mike Wilson. “The second quarter started at a hectic pace, resulting in U.S. plantings being well ahead of historical averages in April, however May and June saw excessive wet conditions across much of North America, with seeding and application levels adversely impacted. Agrium’s significant breadth and depth in our geographic and product offerings allowed us to offset these challenges and provide excellent returns,” continued Mr. Wilson.

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