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Potash Corp. posts 1Q profit of $75 million, result misses forecasts

SASKATOON – SASKATOON, Saskatchewan (AP) _ Potash Corp. of Saskatchewan (POT) on Thursday reported first-quarter earnings of $75 million.

The Saskatoon, Saskatchewan-based company said it had profit of 9 cents per share. Earnings, adjusted for non-recurring costs and severance costs, were 15 cents per share.

The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.

The producer of potash and other fertilizers posted revenue of $1.08 billion in the period.

Potash Corp. expects full-year earnings to be 60 cents to 80 cents per share.

Potash Corp. shares have climbed 6.5 per cent since the beginning of the year. The stock has decreased 45 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on POT at http://www.zacks.com/ap/POT

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Keywords: Potash Corp., Earnings Report