PotashCorp 4Q income up
Potash Corp. of Saskatchewan Inc. reported fourth-quarter 2014 net income of $407 million on sales of $1.9 billion, up from the year-ago $230 million and $1.54 billion, respectively. Gross margins were up for all three major products—N, P and K.
“Record potash sales volumes, combined with higher realizations across all three nutrients, raised our quarterly earnings near the upper end of our guidance range,” said PotashCorp President and CEO Jochen Tilk. “As we look ahead, we see a supportive market environment – most notably in potash. We are ready to respond should demand for this nutrient prove stronger than expected and, as we balance operational flexibility with efficiencies, we believe PotashCorp is well positioned should conditions be more challenging.”
Full-year net income was off at $1.54 billion on sales of $7.1 billion from 2013’s $1.78 billion and $7.3 billion, respectively.