IHS Chemical Week

Chemical Week Magazine :: Business & Finance :: United States/Americas

Cool spring and low prices impact fertilizer companies’ earnings, sales

7:16 AM MDT | August 23, 2013 | —Lindsay Frost

The majority of North American fertilizer firms experienced a slump in earnings and sales in the second quarter as prices dropped across the board. Also, cool and wet winter weather this past spring shortened the planting season, which hurt sales volumes. PotashCorp was one of the exceptions—reporting net income of $643 million for the second quarter, up 23% year-on-year (YOY). The company’s sales, however, dropped 12%, to $2.1 billion. Potash prices declined because competitive pressures moved contract and spot market pricings lower, the company says. Mosaic...

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