Yara reports strong Q2 margins despite market volatility
Yara reports second quarter 2026 EBITDA excluding special items1 of USD 906 million compared with USD 652 million in second quarter 2025. Net income for the quarter was USD 545 million compared with USD 413 million a year earlier.
Second quarter of 2026 highlights:
- EBITDA excluding special items1 of 906 MUSD
- High margins drive strong Return on Invested Capital1
- Volatile nitrogen prices delay off-season demand in Q2, European and global market activity picking up in July
- Acquisition of Gulf Coast Ammonia advances Yara’s ammonia and energy strategy
“Yara delivered higher margins and strong returns in a market characterized by heightened price and demand volatility. While market uncertainty led to reduced purchasing activity due to delayed demand for the new season, we continued to leverage our global downstream presence to optimize volumes and maintain strong production levels. This demonstrates the resilience and flexibility of Yara’s business model,” said Svein Tore Holsether, President and Chief Executive Officer.
The war in the Middle East has significantly disrupted global energy and fertilizer markets. The initial supply shock from the blockage of the Strait of Hormuz led to a sharp increase in urea prices at the very end of the European buying season. With most markets not facing an immediate need for product, the price volatility and market uncertainty have led to a slow start to the new season in the Northern Hemisphere. However, significant buying remains, nitrogen imports are record low, and as of mid-July, buying activity appears to resurface in core markets. The re-escalation of the conflict in the Middle East raises additional concern over supply for the next season. Yara remains well positioned to navigate market volatility and adapt to regional shifts in price and demand.
Despite heightened geopolitical uncertainty and market volatility, Yara continued to execute on its strategic priorities during the quarter. The acquisition of Gulf Coast Ammonia represents a significant strategic milestone in the aim to lower production cost and diversify away from European energy prices.
“The announced acquisition of the Gulf Coast Ammonia plant marks an important milestone in delivering on Yara’s strategy. It strengthens our ammonia cost position, enhances both strategic and operational flexibility, and supports long-term value creation. The acquisition also creates a more balanced energy exposure, with Yara now equally positioned across European and U.S. gas markets. This transaction demonstrates our commitment to invest in value-accretive growth opportunities while maintaining strict capital discipline and a strong focus on shareholder returns,” said Holsether.
Completion of the Gulf Coast ammonia acquisition is subject to customary closing conditions, including receipt of relevant regulatory approvals. Following completion of the acquisition Yara’s immediate priority will be integration of the plant into our portfolio, while delivering on our previously announced EBITDA1 improvement targets. With its resilient, future-ready business model, Yara is well positioned to deliver strong shareholder returns today and in the future.
Link to report, presentation, and webcast on 17 July 2026, at 13:00 CEST:
https://www.yara.com/investor-relations/latest-quarterly-report/
1) For definition and reconciliation see APM section in the 2Q report, pages 29-36.
Contact
Maria Gabrielsen
Head of Investor Relations
M: +47 920 900 93
E: maria.gabrielsen@yara.com
Tonje Næss
Head of External Communications
M: +47 408 446 47
E: tonje.nass@yara.com
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Maria Gabrielsen, Head of Investor Relations, at Yara International ASA, on 17 July 2026 at 08:00 CEST.
About Yara
Yara is a global leader in crop nutrition and ammonia with a mission to responsibly feed the world and protect the planet.
Yara operates a global, flexible production system that delivers a diversified portfolio of nitrogen-based products. With our extensive global market reach and more than a century of agronomic knowledge and continuous innovation, we partner across the value chain to improve crop yields, optimize resource use, and reduce environmental impact.
Through diversified energy exposure and profitable decarbonization efforts, Yara is uniquely positioned to strengthen industrial competitiveness and create long‑term value for customers, shareholders, employees, and society at large.
Founded in Norway in 1905, Yara operates in over 60 countries and serves more than 140 markets, employing about 15,700 people. In 2025, Yara reported revenues of USD 15.7 billion.
For more information, visit yara.com or follow us on LinkedIn, X, Facebook or Instagram.