Potash Corp. (NYSE: POT) said that its second-quarter profit jumped to $840 million or 96 cents a share, from $480 million or 53 cents a share, in the year-earlier quarter. Revenue surged to $2.325 billion from $1.437 billion.
"The continuation of strong fertilizer demand combined with the limitations of global production, especially in potash, resulted in tight fertilizer markets and rising prices for our products," Chief Executive Officer Bill Doyle said in a statement.
Looking ahead, the company lifted its full-year earnings forecast to $3.40 to $3.80 a share from its previous forecast of $3 to $3.40 a share. The company anticipates third-quarter earnings at about 80 cents to $1 a share.
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"The continuation of strong fertilizer demand combined with the limitations of global production, especially in potash, resulted in tight fertilizer markets and rising prices for our products," Chief Executive Officer Bill Doyle said in a statement.
Looking ahead, the company lifted its full-year earnings forecast to $3.40 to $3.80 a share from its previous forecast of $3 to $3.40 a share. The company anticipates third-quarter earnings at about 80 cents to $1 a share.
Full Disclosure: None.
