Potash Corp. (T.POT) cuts profit forecast, stock down 5%

Stockhouse Editorial
0 Comments| October 24, 2013

Potash Corp. (TSX: T.POT, Stock Forum) is reporting third-quarter earnings of 41 cents per share on $356 million in net earnings, down from $645 million a year ago as a result of weaker prices and lower potash sales volumes.

PotashCorp has revised its 2013 potash gross margin forecast range to $1.5 billion-$1.7 billion on expected shipments of 8 million and 8.4 million tonnes and its shares fell 4.7% to $31.38.

The revised forecast is based on shipment levels of between eight million and 8.4 million tonnes, the company said in a press release.

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