09:51 AM EDT, 06/12/2024 (MT Newswires) -- Nutrien ( NTR ) said Wednesday it plans to streamline its operations by focusing on core assets and markets to support earnings and cash flow.

Ahead of a meeting with investors and analysts, the company also said it is targeting a reduction of about $200 million in controllable costs by 2026.

The fertilizer maker said it is no longer pursuing its Geismar, Louisiana clean ammonia project and that intends to review strategic options for its 50% stake in Argentina-based Profertil.

Nutrien ( NTR ) said it aims to increase potash and nitrogen sales volume by 2 to 3 million tonnes by 2026 compared to 2023 levels, and is targeting retail adjusted earnings before interest, taxes, depreciation, and amortization of $1.9 billion to $2.1 billion in 2026.

The company's shares were 1.2% higher in early Wednesday trading.

Price: 54.39, Change: +1.19, Percent Change: +2.24