October 26, 2017 / 10:42 AM / 2 months ago

BRIEF-Potashcorp reports Q3 earnings per share $0.06

Oct 26 (Reuters) - Potash Corporation Of Saskatchewan Inc

* Potash Corp reports third-quarter earnings of $0.06 per share

* Q3 earnings per share $0.06

* Q3 earnings per share view $0.12 -- Thomson Reuters I/B/E/S

* Potash Corp - ‍full-year 2017 earnings guidance range adjusted to $0.48-$0.54 per share, including merger-related costs of $0.08 per share​

* Potash Corp - ‍ Expect merger of equals with agrium to close by end of Q4 of 2017​

* Potash Corp - ‍Third-quarter earnings included $0.03 per share related to a non-cash impairment charge in phosphate​

* Potash - ‍Global Potash prices improved for fifth consecutive quarter as agronomic need and affordability led to “strong” demand in all major markets​

* Potash Corp qtrly sales $‍1,234​ million versus $1,136 million

* Q3 revenue view $1.02 billion -- Thomson Reuters I/B/E/S

* Potash Corp - ‍In Nitrogen, “tighter” market fundamentals late in the quarter supported a recovery in prices from multi-year lows​

* Potash Corp - For Potash, ‍sales volumes for quarter reached 2.9 million tonnes​

* Potash Corp - ‍ Maintained anticipated Potash global shipment range for 2017 at 62 million tonnes - 65 million tonnes​

* Potash Corp - ‍Phosphate fertilizer markets witnessed moderate appreciation during the quarter, supported by stronger engagement from India​

* Potash Corp - ‍ In North America, Potash demand continues to be robust as growers address nutrient needs and capitalize on strong affordability​

* Potash Corp - For Nitrogen, ‍sales volumes of 1.6 million tonnes for quarter were flat compared to same period in 2016​

* Potash Corp - ‍Average realized Potash price of $179 per tonne in Q3 exceeded $150 per tonne realized in same period last year​

* Potash Corp - For Nitrogen, ‍average realized price of $168 per tonne for Q3 was down from $200 per tonne in same period last year​

* Potash Corp - ‍ Anticipate Potash deliveries to Latin America will remain on pace to surpass those of 2016, with FY shipment total unchanged

* Potash Corp - ‍Phosphate sales volumes of 0.8 million tonnes for the quarter was up 5 percent​

* Potash Corp - ‍In Nitrogen, expect markets to remain volatile in Q4, anticipate FY gross margin will be significantly weaker than in 2016​

* Potash Corp - ‍Phosphate average realized price for Q3 was $365 per tonne, below $385 per tonne realized in same period last year​

* Potash- ‍In China,expect nutrient affordability will continue to drive strong consumption; maintain 2017 Potash shipment estimate

* Potash Corp - ‍Lowered combined nitrogen, phosphate gross margin range and now estimate $140-$190 million in 2017, trailing last year’s combined total​

* Potash Corp - ‍merger-related costs are now anticipated to be $0.08 per share, with $0.05 per share expected in Q4​

* Potash-Continue to see improving potash demand environment in india; expect potash deliveries for 2017 near upper end of guidance of 4.0-4.5 million tonnes​

* Potash Corp - ‍ narrowed 2017 guidance range for potash sales volumes, to 9.1 million tonnes-9.3 million tonnes, and for gross margin, to $750 million-$800 million​

* Potash Corp - ‍Expect total shipments in North America market to approach upper end of our 9.3-9.8 million tonnes range​ for 2017

* Potash -raised bottom end of 2017 range for income from equity investments and now expect $180 million-$190 million, primarily due to strength of sqm earnings​

* Potash Corp - ‍ lowered upper end of estimates for provincial mining and other taxes, now expect range of 19-21 percent of potash gross margin for 2017​

* Potash - ‍market value of co’ investments in arab potash co, israel chemicals, sociedad quimica y minera de chile, sinofert was about $6.6 billion at oct 25

* Potash Corp sees ‍2017 capital expenditures about $600 million​ Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below