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PotashCorp Lowers 2009 Earnings Guidance
8:33 AM MDT | September 21, 2009 | Lindsey Bewley
PotashCorp says it has lowered its full-year 2009 earnings guidance from $4.00-$5.00/share, to $3.25-$3.75/share, due to lower than forecasted potash sales volumes due to continued slow demand and limited restocking. PotashCorp expects third-quarter to be at the low end of its forecast of $0.80-$1.20/share. “Our 2009 earnings are still expected to be among the best in company history, despite an anticipated decrease of 60% in year-over-year potash volumes and an 85% decline in our combined phosphate and nitrogen gross margin,” PotashCorp says. About...
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