Yara International Q1 Net Profit Drops 25.4%

Norwegian company Yara International ASA YARIY reported a 25.4% drop in its first-quarter net profit. Yara's quarterly net profit fell to 2.26 billion Norwegian kroner ($297.7 million), versus a year-ago net profit of NOK3.02 billion. However, analysts were expecting a net profit of NOK2.53 billion. Its revenue fell to NOK20.62 billion from NOK20.85 billion, missing estimates of NOK22.03 billion. Its earnings before interest and taxes declined to NOK3.29 billion from NOK3.54 billion. Yara shares closed at $46.30 on Friday.