PotashCorp cuts full-year earnings forecast on contract delays

17 October 2012 11:55  [Source: ICIS news]

LONDON (ICIS)--Canadian crop nutrient manufacturer Potash Corporation (PotashCorp) has lowered its earnings forecast for full-year 2012 to below its predicted range, as a result of delays in completing contracts with emerging market buyers, the company said on Wednesday.

The company announced today that earnings guidance for full-year 2012 will fall below the low end of the $2.80-3.20 (€2.16–2.46) per share range forecast in July, as a result of lower than expected sales volumes, due to delays related to new contracts with buyers in China and India.

Earnings for the third quarter of 2012 are expected to fall at the bottom of PotashCorp’s $0.70-0.90 per share expectations, the company added.

PotashCorp, which is dual-listed on the New York and Toronto stock exchanges,  is expected to release its third-quarter earnings report on 25 October.

($1 = €0.77)

By: Tom Brown
+44 208 652 3214

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