PotashCorp Reports Third-Quarter Earnings of $0.06 per Share

Potash Corporation of Saskatchewan (PotashCorp) reported third-quarter earnings of $0.06 per share ($53 million) – including a non-cash impairment charge in phosphate of $0.03 per share – bringing the nine-month total to $0.48 per share ($403 million). Results for the quarter were down from the $0.10 per share ($81 million) earned in the third quarter of 2016, while the nine-month total surpassed the $0.33 per share ($277 million) earned in the same period last year.
PotashCorp President and Chief Executive Officer Jochen Tilk said:

“With strong customer engagement in all key markets, potash fundamentals continued to improve in the third quarter. In this environment, we delivered stronger potash results on record quarterly sales volumes and higher price realizations. Importantly, we expect that the rising consumption trends in place today will continue, with the potential for another record shipment year in 2018.
We have made significant progress related to our merger with Agrium. On the regulatory front, we recently announced that we received clearance in Canada as well as in India – where we have committed to divesting three of our minority shareholdings. With approvals obtained in four jurisdictions and only the U.S. and China remaining, we continue to expect the merger of equals to close by the end of 2017 and are well-positioned to deliver on the strategic benefits and synergy potential of this transaction.”

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