Yara: Q2 EBITDA USD 906m and Gulf Coast ammonia acquisition

Q2 financials

Yara reported EBITDA excluding special items of USD 906 million for Q2 2026 versus USD 652 million in Q2 2025, and net income of USD 545 million compared with USD 413 million a year earlier. Management cites higher margins driving strong Return on Invested Capital and says global downstream positioning supported volumes and production levels despite market uncertainty.

Market dynamics

The war in the Middle East and an initial supply shock from a Strait of Hormuz blockage disrupted energy and fertilizer markets and pushed urea prices sharply at the end of the European buying season. Price volatility and uncertainty delayed off‑season demand in the Northern Hemisphere, though buying activity resurfaced in core markets by mid‑July and nitrogen imports remain at record low levels. Re‑escalation of the conflict adds concern for supply into the next season.

Strategic move

Yara announced the acquisition of Gulf Coast Ammonia as a strategic step to lower ammonia production costs, improve operational flexibility, and diversify energy exposure away from solely European gas prices. The company says the transaction will help meet previously announced EBITDA improvement targets and create a more balanced energy exposure between European and U.S. gas markets.

Next steps

Completion of the Gulf Coast Ammonia acquisition is subject to customary closing conditions and regulatory approvals; integration and delivery on EBITDA targets will be an immediate priority after closing. Investor materials and a webcast are available on 17 July 2026 at 13:00 CEST.