Bloomberg reported that Potash Corp of Saskatchewan Inc., forsees scheduled maintenance in the third quarter reducing output and raising costs. The company announced lower-than-expected Q3 profits.
As quoted in the report:
Earnings will be 70 cents to 90 cents a share, the Saskatoon, Saskatchewan-based company said today in a statement. The average of 22 analysts’ estimates compiled by Bloomberg was 95 cents.
With our potash production expected to decline in the third quarter as a result of significant scheduled maintenance and capital downtime, we anticipate a higher per-tonne cost of goods sold compared to the second quarter.