Potash Corporation of Saskatchewan Inc. (NYSE: POT) recently announced revised earnings guidance of $3.25-$3.75 per share for full-year 2009, shifting from a range of $4.00-$5.00 per share provided in July 2009. Wall Street Grand is a leading online financial publication. We are pleased to alert investors of stocks that are on the move.
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Potash Corporation of Saskatchewan Inc. (NYSE: POT) recently announced revised earnings guidance of $3.25-$3.75 per share for full-year 2009, shifting from a range of $4.00-$5.00 per share provided in July 2009.
Wall Street Grand is a leading online financial publication. We are pleased to alert investors of stocks that are on the move.
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Potash Corporation of Saskatchewan Inc. lowered its fiscal 2009 outlook and expects earnings per share (EPS) to a range of $3.25-$3.75 from its prior view of $4.00-$5.00. The change primarily reflects lower than forecasted potash sales volumes due to continued slow demand and limited restocking by fertilizer distributors around the world. The Company further announced that earnings per share for third-quarter 2009 are expected to be at the low-end of the $0.80-$1.20 per share guidance range previously provided. According to Reuters Estimates, analysts were expecting the Company to report EPS of $0.89 for third quarter of 2009 and EPS of $4.12 for fiscal 2009. The change primarily reflects lower than forecasted potash sales volumes due to continued slow demand and limited restocking by fertilizer distributors around the world. Over the past 12 months, nearly 20 million tons of potash production has been curtailed by global producers. PotashCorp will continue to keep a tight rein on our production until demand returns in the new year. Our 2009 earnings are still expected to be among the best in company history, despite an anticipated decrease of 60 percent in year-over-year potash volumes and an 85 percent decline in our combined phosphate and nitrogen gross margin.
Earnings for third-quarter 2009 are expected to be at the low-end of the $0.80-$1.20 per share guidance range previously provided. Potash inventories that can be measured in the retail chain – this excludes less easily identified inventories in China – have been largely eliminated and potash levels in soils around the world have been significantly reduced. This creates a progressively higher risk to crop yields as soil fertility is continually diminished. While the immediate impact has been masked by good weather and residual soil nutrient levels in markets with healthy long-term fertilization and agronomic practices, such as the US and Australia, yields for key crops in several other major growing regions are expected to be substantially below 2008 levels. A significant rebound is required to address this situation and we expect 2010 global potash demand to be in the range of 50-55 million tons.
"Food production is an unending and long-term business," said PotashCorp President and Chief Executive Officer Bill Doyle. "Decisions related to fertilizer use today inevitably impact crop yields – and soil needs – for years to come. Although there are fluctuations in fertilizer demand, there is an essential need for our products that is based on science. The potash, phosphate and nitrogen being mined from the soil by current crops must be replaced to protect the world's future food production. As farmers around the world begin the lengthy process of replenishing nutrients in the soil, we anticipate a new wave of demand growth that will allow us to once again demonstrate the full potential of our company."
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Up for our Free Stock Newsletter Potash Corporation of Saskatchewan Inc. lowered its fiscal 2009 outlook and expects earnings per share (EPS) to a range of $3.25-$3.75 from its prior view of $4.00-$5.00. The change primarily reflects lower than forecasted potash sales volumes due to continued slow demand and limited restocking by fertilizer distributors around the world. The Company further announced that earnings per share for third-quarter 2009 are expected to be at the low-end of the $0.80-$1.20 per share guidance range previously provided. According to Reuters Estimates, analysts were expecting the Company to report EPS of $0.89 for third quarter of 2009 and EPS of $4.12 for fiscal 2009. The change primarily reflects lower than forecasted potash sales volumes due to continued slow demand and limited restocking by fertilizer distributors around the world. Over the past 12 months, nearly 20 million tons of potash production has been curtailed by global producers. PotashCorp will continue to keep a tight rein on our production until demand returns in the new year. Our 2009 earnings are still expected to be among the best in company history, despite an anticipated decrease of 60 percent in year-over-year potash volumes and an 85 percent decline in our combined phosphate and nitrogen gross margin. Earnings for third-quarter 2009 are expected to be at the low-end of the $0.80-$1.20 per share guidance range previously provided. Potash inventories that can be measured in the retail chain – this excludes less easily identified inventories in China – have been largely eliminated and potash levels in soils around the world have been significantly reduced. This creates a progressively higher risk to crop yields as soil fertility is continually diminished. While the immediate impact has been masked by good weather and residual soil nutrient levels in markets with healthy long-term fertilization and agronomic practices, such as the US and Australia, yields for key crops in several other major growing regions are expected to be substantially below 2008 levels. A significant rebound is required to address this situation and we expect 2010 global potash demand to be in the range of 50-55 million tons. "Food production is an unending and long-term business," said PotashCorp President and Chief Executive Officer Bill Doyle. "Decisions related to fertilizer use today inevitably impact crop yields – and soil needs – for years to come. Although there are fluctuations in fertilizer demand, there is an essential need for our products that is based on science. The potash, phosphate and nitrogen being mined from the soil by current crops must be replaced to protect the world's future food production. As farmers around the world begin the lengthy process of replenishing nutrients in the soil, we anticipate a new wave of demand growth that will allow us to once again demonstrate the full potential of our company." Sign up for Today for our free Wall Street Grand newsletter. To subscribe, enter your e-mail address into the frame at the bottom of this press release or visit our website.
About Wall Street Grand Wall Street Grand is the best investor relations company on the web. From Research Reports to Stock Profiles, we give you everything you need to make the best investment decisions daily. Each of our Featured Investment Opportunities hold premium characteristics to succeed even our own expectations making us the best kept secret of Wall Street. To feature a company on our web site please contact us at the email listed below. Wall Street Grand's stock profiles are intended to be stock ideas, NOT recommendations. Please do your own research before investing. Please click here to read the full disclaimer.
