(Reuters) -Nutrien ( NTR ) beat analysts' expectations for third-quarter profit on Wednesday, and said it is initiating a review of strategic alternatives for its phosphate business.

The review could include reconfiguring operations, strategic partnerships or a potential sale, the company said.

The Saskatoon, Canada-based firm posted an adjusted profit of 97 cents per share for the three months ended September 30, compared with analysts' average estimate of 95 cents per share, according to data compiled by LSEG.

(Reporting by Vallari Srivastava in Bengaluru; Editing by Sriraj Kalluvila)