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Markets :: Basic Chemicals :: Inorganic Chemicals :: Chlor-alkali

Agrium Swings to Loss

10:25 AM MST | November 4, 2009 | Lindsey Bewley and Rebecca Coons

Agrium reported third quarter earnings of $26 million (16 cts/share), down 93% compared to the same year-ago period, on sales down 41%, to $1.84 billion. The company cited a steep decline in fertilizer prices and demand. Excluding special items, earnings were 29 cts/share, beating analyst estimates of 16 cts/share, as reported by Thompson Reuters (New York). The company had issued a statement last week, warning that it expected a steep decline for third quarter results.   Potash gross profit was down 72%, to $56 million, on average sales prices down 39%...

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