PotashCorp’s First-Quarter Income Soars; Raises Outlook

PotashCorp’s first quarter net income soared 186%, to $566 million ($1.74/share), on sales up 64%, to $1.9 billion. “The pressure to increase global food production drove demand for potash, phosphate and nitrogen and pushed prices for all three nutrients to new heights,” Potash says. Tight supply for grain and other crops have raised global demand for fertilizers, Potash says. Selling prices for potash, phosphate, and nitrogen were pushed to record levels because of product supply constraints and higher raw material input costs, Potash says. the company...

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