Potash Third-Quarter Profit Doubles as Nutrient Prices Rise
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Potash Corp. of Saskatchewan Inc., the world’s largest fertilizer producer by market value, reported third-quarter profit that more than doubled as crop-nutrient prices and sales volumes climbed.
Net income rose to $826 million, or 94 cents a share, from $343 million, or 38 cents, a year earlier, the company said today in a statement. That matched the 94-cent-a-share average of 21 analysts’ estimates compiled by Bloomberg. Sales increased 47 percent to $2.32 billion from $1.58 billion, beating the $2.17 billion average estimate.