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PotashCorp Reports Second-Quarter Earnings of $0.24 per Share
Jul. 27, 2017 08:38AM PST
Potash InvestingKey Highlights Second-quarter earnings of $0.24 per share,1 including a previously disclosed $0.08 per share income tax provision recovery Cash provided by operating activities of $328 million Canpotex sales entitlement increased to approximately 55 percent beginning the second half of 2017, following successful Rocanville capacity audit Expect merger of equals with Agrium to close late in the third quarter of 2017 Full-year 2017 …
Key Highlights
- Second-quarter earnings of $0.24 per share,1 including a previously disclosed $0.08 per share income tax provision recovery
- Cash provided by operating activities of $328 million
- Canpotex sales entitlement increased to approximately 55 percent beginning the second half of 2017, following successful Rocanville capacity audit
- Expect merger of equals with Agrium to close late in the third quarter of 2017
- Full-year 2017 guidance maintained at $0.45-$0.65 per share, including merger-related costs of $0.06 per share
PotashCorp President and Chief Executive Officer Jochen Tilk said:
“In the second quarter, we continued to benefit from stronger potash market conditions and our improved cost position in this nutrient.
Robust potash demand – especially in offshore markets, where Canpotex2 achieved its second highest first-half shipment total – supported a constructive market and is expected to carry through the remainder of the year. We anticipate more subdued nitrogen and phosphate markets in the second half to offset strength in potash and, as a result, have maintained our full-year earnings guidance range.”