October 27, 2016 / 10:17 AM / in a year

Potash Corp Q3 sales fall about 26 pct

Oct 27 (Reuters) - Potash Corp of Saskatchewan , the world’s biggest fertilizer company by capacity, reported a 25.7 percent drop in quarterly sales, as potash prices remained weak.

The company also cut the upper end of its full-year earnings forecast to 40 cents-45 cents per share from 40 cents-55 cents per share.

The company’s net income fell to $81 million, or 10 cents per share, in the third quarter ended Sept. 30, from $282 million, or 34 cents per share, a year earlier.

Sales fell to $1.14 billion from $1.53 billion, the company said on Thursday.

Potash Corp and fellow Canadian fertilizer producer Agrium Inc agreed to combine in September to navigate a severe industry slump by boosting efficiency and cutting costs. (Reporting by Ismail Shakil in Bengaluru; Editing by Shounak Dasgupta)

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