PotashCorp Lifts FY17 Earnings View - Quick Facts

(RTTNews) - Potash Corp Of Saskatchewan Inc. (POT, POT.TO) Thursday said it has raised fiscal 2017 earnings per share guidance to $0.45-$0.65, including merger-related costs of $0.05 per share.

The company previously expected full-year earnings of $0.35 to $0.55 per share.

On average, 17 analysts polled by Thomson Reuters expect earnings of $0.52 per share for the year. Analysts' estimates typically exclude special items.

In pre-market activity on the NYSE, the shares were gaining 2.46 percent to $17.07.

Further, the company said it has raised the bottom end of guidance ranges for potash sales volumes and gross margin to 8.9-9.4 million tonnes and $600-$800 million, respectively.

PotashCorp President and Chief Executive Officer Jochen Tilk said, "Potash market fundamentals continued to improve in the first quarter, creating a supportive earnings environment. We expect improved consumption trends and nutrient affordability in key markets to support potash demand and our results through the remainder of 2017."

Strong demand is expected to continue through the remainder of the year. The company maintained global shipments estimate of 61-64 million tonnes for 2017, above the approximately 60 million tonnes shipped in 2016, and expect supportive market fundamentals through the balance of this year.