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Markets :: Basic Chemicals :: Inorganic Chemicals :: Fertilizers
Higher Prices and Volumes Lift Potash's Earnings
5:06 AM MST | January 24, 2008 | Kerri Walsh
Potashâ€™s fourth-quarter net income more than doubled to $376.8 million ($1.16/share), on sales up 40%, to $1.4 billion. Strong market conditions and rising prices for potash, nitrogen, and phosphate drove results, Potash says. Results also benefited from a Canadian income tax reduction. Potash sales rose 30%, to $479 million, Potash says. Nitrogen revenues climbed 45%, to $463 million, and phosphate sales jumped 46%, to $489 million, the company says. Increasing demand for global crops reduced the combined stocks-to-use ratio for grain and soybeans to the...
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