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Fertilizer companies report strong earnings on higher potash demand

5:42 PM MDT | May 6, 2013 | —Lindsay Frost

Offshore shipments, particularly to China and India, helped major North American fertilizer companies improve earnings and offset colder-than-normal conditions in the United States. PotashCorp reported net income up 13% year-on-year (YOY), to $556 million, on sales up 21%, to $2.1 billion. Earnings of 63 cts/share surpassed a concensus of analyst estimates of 59 cts/share, as reported by Thomson Reuters (New York). Potash segment sales increased 48% YOY despite lower prices. Mosaic reported net earnings of $345 million, up 26% YOY, for its fiscal third quarter...

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