Potash Corp. of Saskatchewan Inc. (PotashCorp) today announced that earnings guidance for full-year 2012 will fall below the low end of the previous range of $2.80-$3.20 per share provided in July 2012. The change primarily reflects lower than forecasted potash sales volumes due to delays in new contracts with buyers in China and India. Earnings for third-quarter 2012 are expected to be at the low-end of the $0.70-$0.90 per share guidance range previously provided.
Additional discussion around third-quarter results, as well as full-year guidance will be addressed in a third-quarter news release and conference call Oct. 25, 2012.
Consistent with Potash Corp. of Saskatchewan Inc.’s (PotashCorp) practice of matching supply with market demand, the company has given notice of inventory adjustments at its Rocanville and Lanigan mines. Rocanville will not operate between Dec. 2, 2012 and Jan. 26, 2013 (8 weeks). Lanigan will not operate between Nov. 18, 2012 and Jan.12, 2013 (8 weeks).
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