PotashCorp (POT) Lowers Q2 Guidance
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Potash Corporation of Saskatchewan Inc. (NYSE: POT) revised earnings guidance for second-quarter 2009, shifting from our initial target of $1.10-$1.50 per share(1) to our current expectation of approximately $0.70 per share.
Potash said the change reflects substantially lower than forecasted potash sales volumes due to deferral of purchases by customers around the world and lower realized prices for phosphate fertilizers.
Potash said any necessary revisions to annual guidance will be addressed in our second-quarter news release.
Note: Potash sold-off last week after K+S warned in Europe of weak potash demand.
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