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Stock Market & Financial Investment News

News Breaks
July 23, 2014
13:51 EDTPOT, MOSEarnings Preview: Potash sees Q2 earnings per share 40c-45c
Potash Corporation of Saskatchewan (POT) is scheduled to report second quarter earnings before the market open on Thursday, July 24, with a conference call scheduled for 1:00 pm ET. Potash is an integrated fertilizer and feed products company. EXPECTATIONS: Analysts are looking for earnings per share of 46c on revenue of $1.68B, according to First Call. The consensus range for EPS is 42c-50c on revenue of $1.56B-$1.79B. LAST QUARTER: Potash reported first quarter EPS of 40c against estimates for 35c, on revenue of $1.68B against estimates for $1.49B. On its Q1 earnings report, the company forecast Q2 EPS of 40c-45c, compared to consensus of 49c. FY14 EPS was seen at $1.50-$1.80, compared to consensus of $1.65. Potash said, "Given a slightly improved potash pricing and demand outlook, we have increased our annual estimate for potash gross margin to $1.1-$1.3 billion and sales volumes to 8.3-8.7 million tonnes. Our estimates include the benefit of our Canpotex allocation run at Allan, which is nearing completion. With results to this point surpassing our initial expectations, we anticipate our Canpotex entitlement will exceed 53 percent for the second half of 2014...In nitrogen, recent pricing strength has improved the near-term outlook. We anticipate typical seasonal trends will result in slightly weaker margins through the second half of 2014, although our higher sales volumes expectations should partially offset this impact. For the full year, we anticipate total gross margin will remain historically high but trail 2013's total. In phosphate, we expect prices for all products to be below those of 2013." STREET RESEARCH: Street research has been cautious in the weeks leading up to Potash’s Q2 earnings report. On July 9, JP Morgan downgraded Potash to Neutral from Overweight citing valuation with shares near the firm's unchanged price target of $38. JPMorgan preferred Mosaic (MOS) at current valuation levels. The firm believed falling crop prices in anticipation of high domestic corn and soybean supplies could weigh on Potash shares. On May 21, Raymond James downgraded Potash to Market Perform from Outperform due to valuation. PRICE ACTION: Potash shares have made modest gains since the company's Q1 report, but are down over 5% over the past twelve months. In afternoon trading ahead of tomorrow's Q2 report, Potash’s shares are up 0.5%.
News For POT;MOS From The Last 14 Days
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January 29, 2015
10:57 EDTMOSJP Morgan reports 6.3% passive stake in Mosaic
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06:40 EDTPOTPotash sees FY15 CapEx $1.2B
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06:40 EDTPOTPotash sees FY15 potash sales volumes of 9.2M-9.7M tonnes
Sees FY15 potash gross margin to reach $1.5B-$1.8B. In nitrogen, the potential for fewer supply-related disruptions, lower global energy prices and slightly weaker agricultural fundamentals could result in a more tempered pricing environment in 2015. Anticipates that gross margin in nitrogen will trail the record level achieved in 2014. Sees combined nitrogen and phosphate gross margin will be in the range of $1.1B-$1.3B in 2015, relatively flat with 2014.
06:38 EDTPOTPotash enters 2015 with 'positive, albeit moderated, view' for business
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06:04 EDTPOTPotash sees FY15 EPS $1.90-$2.20, consensus $2.12
06:03 EDTPOTPotash sees Q1 EPS 45c-55c, consensus 50c
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06:02 EDTPOTPotash reports Q4 EPS 49c, consensus 46c
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January 28, 2015
17:26 EDTPOTPotash raises quarterly dividend approximately 9% to 38c from 35c per share
The dividend is payable May 4 to shareholders of record on April 13.
12:50 EDTPOTEarnings Preview: Potash sees 'strong customer engagement' in Q4
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January 20, 2015
08:26 EDTPOT, MOSAgrium preferred over Potash, Mosaic at Canaccord
Canaccord said they prefer Agrium (AGU) over both Potash (POT) and Mosaic (MOS). Mosaic raised its guidance due to its phosphate business, but with a lack of catalysts expected in the potash market in 2015 the firm continues to see solid growth volume, increasing nitrogen margins, and free cash flow expansion for Agrium. Canaccord maintains its Buy rating on Agrium and its Hold rating on both Mosaic and Potash shares.
January 19, 2015
16:29 EDTMOSMosaic expects 'further business strength' into 2015
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16:28 EDTPOT, MOSMosaic raises Q4 EPS outlook to 83c-88c, consensus 57c
The Mosaic Company announced that it expects reported phosphates volume and phosphates and potash margins to exceed previously provided guidance ranges, and that potash volumes will be at the high end of guidance range, resulting in Q4 earnings per share in the range of 93c-98c, including 10c in net benefits from notable items. The notable items include early estimates of discrete tax benefits, primarily related to the acquisition of a Brazilian distribution business, which may change. The company expect earnings, excluding notable items, to be in the range of 83c-88c. The consensus EPS estimate is 57c..Mosaic stated, "Demand for potash and phosphates exceeded our expectations during the fourth quarter,. We were cautiously optimistic going into the fall application season with good crop nutrient affordability and an empty supply chain, but customers came to the market in force, as they sought to position inventory in anticipation of a strong spring season and increasing crop nutrient prices...Our Phosphates business sold 3.3 million tonnes of finished product during the quarter - well above our expectations - and our Potash business produced at a high operating rate due to a successful proving run at the Colonsay mine." Mosaic's peers include Potash (POT) and Agrium (AGU).

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