Potash Corp. of Saskatchewan Inc. today reported fourth-quarter earnings of $0.48 per share ($421 million), which compared to $0.78 per share ($683 million) in the same period last year. Full-year earnings for 2012 of $2.37 per share ($2.1 billion) trailed the $3.51 per share ($3.1 billion) earned in 2011. Results included a $41 million ($0.04 per share) provision for the settlement of antitrust claims in the U.S. recorded in the fourth quarter, and a $341 million ($0.39 per share) non-cash impairment charge related to our investment in Sinofert Holdings Ltd. in China recorded in the second quarter.
“Our fourth-quarter results were adversely affected by weaker performance in all three nutrients as global fertilizer markets paused in the absence of significant immediate needs and amid lack of direction, particularly in phosphate and potash,” said PotashCorp President and CEO Bill Doyle. “Despite these temporary challenges, we operated with a consistent approach – temporarily slowing potash production and leveraging our diversified product mix in our other nutrients – to best position our company for the expected rebound in fertilizer demand in 2013.”