PotashCorp Q2 Profit Down; Updates FY15 EPS View - Quick Facts

(RTTNews) - Canadian fertilizer giant Potash Corp of Saskatchewan Inc. (POT, POT.TO) reported that its second-quarter 2015 earnings were $417 million or $0.50 per share, down from $472 million or $0.56 per share in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.51 per share. Analysts' estimates typically exclude special items.

Sales for the quarter dropped to $1.731 billion from $1.892 billion in the prior year. Wall Street expected revenues of $1.71 billion for the quarter.

For the third quarter, the company forecasts earnings to be in the range of $0.35-$0.45 per share. Analysts project third-quarter earnings of $0.43 per share.

The company revised its full-year 2015 earnings guidance to $1.75-$1.95 per share. Analysts expect annual earnings of $1.86 per share. The company said in April that it expected earnings per share to be in the range of $1.75 to $2.05 per share for fiscal 2015.

The company revised its full-year expectations for its potash business. Its full-year sales volumes estimate has been narrowed to 9.3-9.6 million tonnes and - due to a decline in certain spot market prices through the second quarter - it lowered the upper end of its previous potash gross margin range, now forecast at $1.5-$1.7 billion.