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Markets :: Basic Chemicals :: Inorganic Chemicals :: Fertilizers

PotashCorp Cuts Outlook After First-Quarter Miss

11:56 AM MDT | April 26, 2012 | Rebecca Coons

Potash Corporation of Saskatchewan (PotashCorp) posted a 33% decline in profits, as potash buyers continued to hold off purchases and margins sunk on higher costs. The company reported earnings of $491 million for its fiscal first quarter ended March 31, compared with $732 million in the same year ago quarter. Earnings of 56 cts/share missed analysts estimates of 63 cts/share, as reported by Thomson Reuters (New York). Sale fell 26%, to $1.7  billion. “Fertilizer buyers continued to move cautiously at the beginning of the year, especially with potash...

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