Potash Corp. of Saskatchewan Inc. reported second-quarter earnings of $0.24 per share ($201 million), which included an $0.08 per share income tax provision recovery, bringing the first-half total to $0.42 per share ($350 million). Results for both the quarter and the first six months surpassed the $0.14 per share ($121 million) and $0.23 per share ($196 million) earned in the respective periods of 2016.
“In the second quarter, we continued to benefit from stronger potash market conditions and our improved cost position in this nutrient,” said PotashCorp President and CEO Jochen Tilk. “Robust potash demand – especially in offshore markets, where Canpotex achieved its second highest first-half shipment total – supported a constructive market and is expected to carry through the remainder of the year. We anticipate more subdued nitrogen and phosphate markets in the second half to offset strength in potash and, as a result, have maintained our full-year earnings guidance range.”