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PotashCorp cuts guidance, announces potash production curtailment
10:59 AM MDT | July 25, 2013 | Lindsay Frost
Recent price drops in crop nutrients effected PotashCorp’s second quarter earnings, reported today—prompting the company to slash its earnings outlook for fiscal 2013 from a previously estimated $2.75-$3.25/share, to $2.45-$2.70/share. Thomson Reuters (New York) currently has analyst estimates at $2.93/share for the year. Net income for the second quarter was $643 million, up 23% YOY—with offshore investments in Arab Potash Company (APC; Jordan), Israel Chemicals (ICL; Israel) and Sociedad Quimica y Minera de Chile (SQM; Chile) contributing to...
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