Agrium Posting Solid Gains After Earnings Blowout (AGU)

Fertilizer company Agrium AGU released its Q2 earnings results this morning prior to the opening bell. The company reported net income of $506 million or $3.20 per share, compared to $370 million or $2.35 per share, in the year ago period. The results came in well ahead of analysts' consensus EPS estimates which called for a profit of $2.76 per share. Net sales for the second quarter were $4.367 billion, up from $4.090 billion in Q2 2009. The revenue numbers exceeded analysts' estimates of $4.18 billion. During today's trading session, investors have reacted positively to AGU's earnings news and bid up the stock 2.78% on heavy volume. Currently, the shares are trading hands for $65.40. AGU has been on fire over the last month, gaining 33%. Agrium Inc. is a retailer of agricultural products and services in the United States, as well as Argentina, Chile and Uruguay and a global producer and wholesale marketer of nutrients for agricultural and industrial markets.