K+S Stock Declines as Earnings-Growth Forecast Misses Estimates
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K+S AG fell as much as 5.5 percent, the only stock on Germany’s benchmark DAX Index to decline, after Europe’s largest producer of potash forecast operating profit growth for 2011 that fell short of analysts’ estimates.
Earnings before interest and taxes and excluding some hedging transactions, which K+S calls Ebit I, will increase to within a range of 950 million euros ($1.4 million) and 1.05 billion euros, the Kassel, Germany-based company said in a statement today. That compares with the 1.06 billion-euro average of 24 estimates compiled by Bloomberg.