Thu, Jul. 30, 8:46 AM
- Potash Corp. (NYSE:POT) +0.9% premarket after slightly missing Q2 earnings expectations and reporting in-line revenues.
- POT lowered the top end of its full-year EPS forecast to $1.95 from $2.05 while keeping the low end of guidance unchanged at $1.75, vs. the analyst consensus estimate of $1.89, but the company issues an upbeat outlook, saying “While we have faced some near-term market headwinds, we are encouraged by the strength of global potash demand, especially in offshore markets."
- POT says Q2 potash production remained flat at 2.5M metric tons, while the average realized potash price rose 4% Y/Y to $273/metric ton; potash gross margin jumped 5.6% to $417M, but costs increased as the company sourced less potash from its lower-cost mines.
- The biggest Q2 weakness was the nitrogen business, where production fell 2% Y/Y and POT’s realized selling price was $334/metric ton, down from $393 in the year-ago quarter; the company says results were hurt rising supply in key producing regions.
- POT sees another solid year for potash demand, with total global shipments reaching 60M metric tons in 2015, would be just below 2014's record of 61M.
- POT says little about its proposal to acquire K+S, only reiterating that it wants to have “constructive” discussions with K+S management.
Thu, Jul. 30, 6:06 AM
Thu, Apr. 30, 8:29 AM
- Potash Corp. (NYSE:POT) -2.5% premarket after reporting weaker than expected Q1 earnings and cutting its guidance for the year, warning that 2015 potash prices likely would be lower than expected.
- POT issues downside guidance for Q2, seeing EPS of $0.45-$0.55 vs. $0.57 analyst consensus estimate, and lowers its FY 2015 EPS outlook to $1.75-$2.05 from its previous view of $1.90-2.20 and $2.02 consensus.
- POT maintains its estimate for full-year potash gross margin of $1.5B-$1.8B and sales volumes of 9.2M-9.7M metric tons; it expects market conditions to support a stronger pricing environment for phosphate, and forecasts combined nitrogen and phosphate gross margin of $1.0B-$1.2B for the year.
- Guidance for potash sales volumes for the year was maintained at between 9.2 million and 9.7 million tons, as was its full-year potash gross margin view of between $1.5 billion and $1.8 billion.
- In Q1, potash gross margins rose 43% Y/Y to $428M, helped by higher realized prices and lower per-ton costs, with the average realized potash price of $284/metric ton up from $250 a year earlier; potash sales volumes were relatively flat at 2.3M tons, while sales volumes for both nitrogen and phosphate fell and prices improved.
Thu, Apr. 30, 6:02 AM
Thu, Jan. 29, 8:34 AM
- Potash (NYSE:POT) +1.1% premarket after reporting better than expected Q4 results and raising its dividend by nearly 9% in a sign of confidence in future cash flow and demand for its fertilizer products.
- POT says Q4 potash sales volumes totaled a record 2.5M metric tons, bringing the FY 2-14 total to 9.3M; nitrogen volumes were relatively flat, while phosphate sales volumes fell due to certain production challenges.
- POT says increased sales volumes, lower costs and slightly higher realized prices raised its Q4 potash gross margin to $445M, 95% above the $228M during the year-ago period; Q4's average realized potash price was $284/ton.
- Issues in-line guidance for FY 2015, seeing EPS of $1.90-$2.20 vs. $2.12 analyst consensus estimate; issues in-line guidance for Q1, seeing EPS of $0.45-$0.55 vs. $0.51 consensus.
- Guides for 2015 potash sales volumes of 9.2M-9.7M tons and a full-year potash gross margin of $1.5B-$1.8B.
Thu, Jan. 29, 6:04 AM
Wed, Jan. 28, 5:30 PM
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Oct. 23, 2014, 9:14 AM
- Potash Corp. (NYSE:POT) +1.2% premarket after reporting an 11% drop in Q3 earnings and missed analyst estimates, but the results were within the company's prior guidance.
- POT says it sold 2M metric tons of potash in Q3, up 29% Y/Y, but its average realized price was US$281/ton vs. US$307 in Q3 2013.
- Says global potash shipments reached an all-time high in the first nine months of 2014 amid rising prices, and nitrogen and phosphate prices also have improved as demand has been strong.
- Increases its estimate for potash annual sales volumes to 9M-9.2M metric tons; sees 2014 worldwide potash sales of 58M-60M tons, above its prior guidance.
- Issues in-line FY 2014 EPS guidance, seeing $1.75-$1.85 from prior $1.70-$1.90 vs. $1.82 analyst consensus estimate.
Oct. 23, 2014, 6:08 AM
Jul. 24, 2014, 8:19 AM
- Potash Corp. (NYSE:POT) +2.8% premarket after posting big Y/Y declines in Q2 earnings and revenues, but results beat expectations and POT raised its earnings guidance for the year.
- POT says its H2 outlook has improved after record H1 demand, prompting it to raise its global potash shipment expectations to 56.5M-58M metric tons.
- Issues upside guidance for FY 2014, now seeing EPS of $1.70-$1.90 from its previous view of $1.50-$1.80 and $1.67 analyst consensus estimate; expects Q3 EPS of $0.35-$0.45 vs. $0.40 consensus.
- Says it remains on track to achieve its 2014 target of reducing per-ton cash costs by $15-$20 from 2013 levels, although Q3 will reflect normal seasonal increases as required maintenance downtime is completed.
- In Q2, POT says stronger performances from all three of its key nutrient segments improved, lower potash and nitrogen prices have rekindled demand, and cost efficiencies are helping the bottom line.
- Q2 gross margin fell to $747M from $979M in the year-ago period, with potash gross margin falling 36%; average potash prices were $263/metric ton, down from $356/ton from a year ago but up from $250 in Q1.
Jul. 24, 2014, 6:02 AM
Apr. 24, 2014, 7:58 AM
- Potash Corp. (POT) +1.8% premarket after Q1 earnings and revenue beat analyst expectations and the company raises its sales outlook for the year.
- Q1's realized potash price was $250/metric ton, far below $363 from the same period last year, but low prices are helping to boost purchases, as sales volume rose to 2.3M metric tons vs. 2.2M a year ago.
- POT now expects to sell 8.3M-8.7M metric tons of potash this year, up slightly from earlier guidance of 8.2M-8.6M and far better than 2013 (8.1M) or 2012 (7.2M).
- Issues downside Q2 guidance, seeing EPS of $0.40-$0.45 vs. analyst consensus estimate $0.49; raises bottom end of FY 2014 EPS outlook to $1.50-$1.80 vs. prior guidance of $1.40-$1.80 and $1.67 consensus.
- Sees "steady improvements" taking hold in the potash industry, and maintains its FY 2014 global potash shipments outlook of 55M-57M metric tons vs. 53.5m tons shipped in 2013.
- Reports weaker Q1 results from its nitrogen and phosphate units due to lower prices; phosphate production also was disrupted by bad weather.
Apr. 24, 2014, 6:02 AM
Jan. 30, 2014, 8:22 AM
- Potash (POT) -4.3% premarket after posting a 45% drop in Q4 earnings and issuing weaker than expected earnings guidance for 2014 on expectations for continued pricing pressure.
- Gross margins fell as lower prices for all three fertilizer nutrients - potash, nitrogen and phosphate - outweighed improved costs and higher sales volumes.
- In its downside guidance, POT sees Q1 EPS of $0.30-$0.35 vs. $0.46 analyst consensus, and sees FY 2014 EPS of $1.40-$1.80 vs. $2.01 consensus.
- Q4 potash sales volumes rose 13%, largely fueled by North American activity, but average potash prices fell to $282/metric ton in the quarter from $387 a year earlier; while POT near-term pressure on potash prices appears to have subsided, "its impact is expected to suppress our offshore realizations through the early part of 2014."
- Among peers: MOS -1.2%, IPI -2.1% premarket.
Jan. 30, 2014, 6:03 AM
Jan. 30, 2014, 12:05 AM
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