Potash Net Income Plunges 80%, Guides Lower on Expected Lower Gross Margins (POT)
Thu. October 22, 2009; Posted: 06:58 AM
Oct 22, 2009 (SmarTrend(R) News Watch via COMTEX) --
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PowerRating -- 10/22/2009-Potash (NYSE:POT) reported Q3 EPS of 82 cents, topping consensus estimates by a penny. Revenues in the quarter plunged 64.1% year-over-year to $1.10 billion, inline with consensus estimates. The company said it expects Q4 EPS of $0.65 - $0.85 (vs. consensus estimates of $1.18). The company offered these forward looking statements, "We anticipate global potash demand in 2010 will approximate 50 million tonnes... We now expect our 2009 potash gross margin to fall within the range of $0.7-$0.9 billion and total shipments to be 3.0-3.2 million tonnes."
Write to Chip Brian at cbrian@tradethetrend.com
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