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PotashCorp profits slump, expects weaker results in 2014
3:47 PM MST | January 30, 2014 | Rebecca Coons
Potash Corporation of Saskatchewan (PotashCorp) reports fourth-quarter earnings of $230 million (26 cts/share), down 45.4% year-on-year (YOY), mainly due to weak prices for nutrients following the breakup of export cartel Belaruski Potash Corp. (BPC) in July. The company also issued 2014 earnings guidance 11-31% lower than 2013 results. Sales fell 6.2%, to $1.5 billion. Including a 5 cts/share severance charge from workforce reductions, the company earnined 26 cts/share, well below a 33 cts/share consensus of analysts’ estimates compiled by Thomson Reuters...
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