PotashCorp reports drop in earnings, sales due to weak overseas potash demand

PotashCorp reported a drop in third-quarter earnings—down 22%, to $645 million, or 75 cts/share. Reported adjusted earnings per share of 74 cts/share were lower than analyst estimates of 78 cts/share, according to Thompson Reuters (New York). The company says volumes in North American potash hit a record high because of strong third-quarter shipments in areas less impacted from the drought, PotashCorp says. Sales for the quarter hit $2.1 billion, down 9% year-on-year (YOY). The company says offshore investments in Arab Potash Company (Amman, Jordan), Israel...

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