Potash Profit Misses Estimates After Fertilizer Demand Declines

Potash Corp. of Saskatchewan Inc., the world’s largest fertilizer producer by market value, posted fourth-quarter profit and sales that trailed analysts’ estimates after demand dropped for the crop nutrient.

Net income rose to $683 million, or 78 cents a share, from $508 million, or 56 cents, a year earlier, the Saskatoon, Saskatchewan-based company said today in a statement. That trailed the 87-cent average of 25 estimates compiled by Bloomberg. Sales increased 2.9 percent to $1.87 billion from $1.81 billion, lagging behind the $2.10 billion average of 12 estimates.

“The drag of global economic concerns shook the confidence of fertilizer buyers and caused a greater decline in fourth- quarter demand than we had anticipated,” Chief Executive Officer Bill Doyle said in the statement.

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- Posted: 2012-01-26 14:01:20

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