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

PotashCorp reports earnings drop, raises full-year guidance

4:27 PM MDT | April 28, 2014 | —Lindsay Frost

PotashCorp reports first-quarter net income of $340 million, down 38% year-on-year (YOY). Earnings were 40 cts/share, above analyst estimates of 35 cts/share, according to Thomson Reuters (New York). Earnings include a $69-million special dividend from the company’s investment in Israel Chemicals Ltd. (ICL) and a $38-million charge from its investment in Sinofert Holdings, the company says. Sales of $1.7 billion dropped 19% YOY. “After an especially challenging environment in the second half of 2013, greater demand and stability emerged early in the...

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