Potash Cuts 2009 EPS Guidance due to "Slow Demand" (POT)

Mon. September 21, 2009; Posted: 03:41 PM

Sep 21, 2009 (SmarTrend(R) News Watch via COMTEX) -- POT | Quote | Chart | News | PowerRating -- 9/21/2009-Potash Corp. (NYSE:POT) shares are trading 4.4% lower Monday after the company announced that it had reduced its annual 2009 guidance. The company now anticipates full-year 2009 EPS of $3.25-$3.75 (vs. consensus estimates of $4.16), down from its previously estimated range of $4.00-$5.00, provided in July 2009. Potash attributed the adjustment primarily to "lower than forecasted potash sales volumes due to continued slow demand and limited restocking by fertilizer distributors around the world."

"Food production is an unending and long-term business," said PotashCorp President and Chief Executive Officer Bill Doyle. "Decisions related to fertilizer use today inevitably impact crop yields - and soil needs - for years to come. Although there are fluctuations in fertilizer demand, there is an essential need for our products that is based on science. The potash, phosphate and nitrogen being mined from the soil by current crops must be replaced to protect the world's future food production. As farmers around the world begin the lengthy process of replenishing nutrients in the soil, we anticipate a new wave of demand growth that will allow us to once again demonstrate the full potential of our company."

Write to Chip Brian at cbrian@tradethetrend.com

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For full details on Potash Cp Saskatchewan (POT) click here. Potash Cp Saskatchewan (POT) has Short Term PowerRatings of 5. Details on Potash Cp Saskatchewan (POT) Short Term PowerRatings is available at This Link.

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