Potash Cuts Profit Forecast After Fertilizer Price Drop
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Potash Corp. of Saskatchewan Inc., the largest fertilizer producer by market value, cut its earnings forecast and reported profit that missed analysts’ estimates after a drop in prices for its namesake crop nutrient.
Profit will be $2.45 to $2.70 a share this year, the Saskatoon, Saskatchewan-based company said today in a statement. That’s less than the $2.75 to $3.25 forecast in April and the $2.84 average of 30 estimates compiled by Bloomberg.