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Markets :: Basic Chemicals :: Inorganic Chemicals :: Fertilizers
Low Demand and Selling Prices Cut PotashCorp's Earnings
7:24 AM MDT | October 22, 2009 | Kerri Walsh
PotashCorp reported third-quarter net income down 79%, to $249 million (82 cts/share), on sales down 64%, to $1.1 billion. "The quarter-over-quarter decline reflects the continuing caution among fertilizer buyers around the world, which has negatively affected sales volumes and prices for all three nutrients," Potash says. Sales and profits were up sequentially. Potash gross margins fell 72%, to $251.4 million, mainly because of "slower potash movement, lower realized prices, and higher per-ton costs of goods sold," PotashCorp says...
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