Potash Corp. of Saskatchewan Inc. reported second-quarter net income of $417 million ($0.50 per diluted share) on sales of $1.73 billion, down from the year-ago $472 million ($0.56 per share) and $1.89 billion, respectively.
The company said improved potash and phosphate contributions were offset by weaker nitrogen earnings, resulting in gross margin of $711 million in this year’s second quarter (down 5 percent) and $1.4 billion for the first half (up 5 percent).
Six-month net income was $787 million ($0.94 per share) on sales of $3.39 billion, down from $812 million ($0.95 per share) and $3.57 billion.