geschlossen, eventuell bereits am Montag. Grund: Potash hat die Gewinnprognose erneut reduziert, Nachricht wurde nach Börsenschluss (NYSE) bekannt gegeben. Potash Corp slashes its earnings guidance – again TORONTO -- Potash Corp. of Saskatchewan Inc. has slashed its earnings guidance for the second time in three months as the fertilizer giant continues to face much lower sales volumes than it expected. Late Friday, the company lowered its full-year guidance to between US$3.25 and US$3.75 a share, down from its prior outlook of US$4.00 to US$5.00 a share. In January, Potash Corp. triumphantly predicted that it would earn US$10.00 to US$12.00 a share in 2009, numbers that would have been in line with last year’s record-setting results (which came amid a red-hot potash market). But then things started to go wrong for the potash industry, as farmers drastically reduced their fertilizer application rates amid the global recession. At the same time, they drew down their existing inventories and bought much less potash in hope of lower prices in the future. “Customers both domestically in North America, and internationally, have been slower to re-stock than they traditionally are. I think people are continuing to be cautious in the near-term,” said Bill Johnson, Potash Corp.’s director of public affairs. In response to weak demand, the potash industry has aggressively cut production, removing almost 20 million tonnes out of the market in the past 12 months. But so far, that has not kick-started demand. However, Potash Corp. is maintaining a very bullish outlook for the future. The company said in a statement that measurable potash inventories in the retail chain have been “largely eliminated,” suggesting that a period of re-stocking should come soon. It also noted that potash levels in soils around the world have been “significantly reduced,” which hurts crop yields. In the long run, the company argued that potash applications will have to increase to keep yields up. “As farmers around the world begin the lengthy process of replenishing nutrients in the soil, we anticipate a new wave of demand growth that will allow us to once again demonstrate the full potential of our company,” chief executive Bill Doyle said in the statement. Potash Corp.’s shares dropped 4.5% in after-hours trading as news of the profit warning sank in. For the third quarter, the company stuck with its prior guidance of US80¢ to US$1.20¢ a share, but said earnings are expected to be at the low end of that range. Financial Post http://www.calgaryherald.com/business/fp/...+again/2009628/story.html |
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