Potash Profit Outlook Down In Q3

Potash Investing

Bloomberg reported that Potash Corp of Saskatchewan Inc., forsees scheduled maintenance in the third quarter reducing output and raising costs. The company announced lower-than-expected Q3 profits.

As quoted in the report:

Earnings will be 70 cents to 90 cents a share, the Saskatoon, Saskatchewan-based company said today in a statement. The average of 22 analysts’ estimates compiled by Bloomberg was 95 cents.

The company said in a statement:

With our potash production expected to decline in the third quarter as a result of significant scheduled maintenance and capital downtime, we anticipate a higher per-tonne cost of goods sold compared to the second quarter.

Click here to read the full Bloomberg report.

potash corp saskatchewan Market News