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Potash Corp. Profit Trails Estimates as Nitrogen Prices Fall
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Potash Corp. of Saskatchewan Inc., the world’s largest fertilizer producer, reported quarterly profit that missed analysts’ estimates as prices for nitrogen-based fertilizers fell on increased global supply.
Second-quarter earnings slid to 50 cents a share from 56 cents a year earlier, the Saskatoon, Saskatchewan-based company said Thursday in a statement. The average of 20 estimates for profit excluding one-time items was 51 cents. Potash Corp. lowered the upper end of its full-year earnings forecast to $1.95 a share from $2.05 on April 30.