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People & Business :: Companies
Lower Selling Prices, Decreased Potash Sales Volumes Drive Down PotashCorp's Earnings
6:08 AM MST | January 28, 2010 | Kerri Walsh
PotashCorp's fourth-quarter net income dropped 69%, to $243.6 million (80 cts/share) because of lower selling prices for potash, phosphate, and nitrogen. Selling prices decreased because customers were resistant to commit to inventory restocking, Potash says. A fall in potash sales volumes, especially from offshore markets, also led to the decline in earnings, Potash says. The consensus of analysts estimates as reported by Thomson Reuters was for 78 cts/share. Sales fell 41%, to about $1.1 billion. The fourth quarter marked the "beginning of...
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