Potash Corp Q3 Profit Down, Results Miss Estimates; Cuts FY13 Profit View

(RTTNews) - Potash Corp of Saskatchewan Inc.(POT, POT.TO) reported third-quarter earnings of $356 million or $0.41 per share, down from $645 million or $0.74 per share in the same period last year as a result of weaker prices for all three nutrients and lower potash sales volumes. Analysts polled by Thomson Reuters expected the company to report earnings of $0.43 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the quarter slipped to $1.520 billion from $2.143 billion in the prior year quarter. Fifteen analysts had consensus revenue estimate of $1.53 billion for the quarter.

The company now forecasts full-year 2013 net income at $2.00-$2.20 per share, compared to prior estimate of $2.45-$2.70 per share. Analysts expect the company to report earnings of $2.35 per share for fiscal 2013.