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Finance

Yara to cut costs as conditions improve

by Alexander H. Tullo
July 29, 2024 | A version of this story appeared in Volume 102, Issue 23
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Yara says that because of lower costs and a tightening market for ammonia, it is seeing improvements in its business. The Norwegian fertilizer maker eked a profit of $3 million in the second quarter versus a loss of $298 million a year ago. Seeking to sustain its gains, the company is planning to reduce costs by $150 million and capital spending by another $150 million. The company says that the cuts will target its least profitable activities.

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