Agricultural nutrient maker Potash Corp of Saskatchewan Inc. (POT, POT.TO) reported first-quarter net earnings of $556 million $0.63 per share, up from $491 million or $0.56 per share in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.59 per share for the quarter. Analysts' estimates typically exclude special items.
Sales for the quarter rose to $2.10 billion from $1.75 billion in the prior year quarter. Seventeen analysts had consensus revenue estimate of $1.82 billion for the quarter.
The company expects second-quarter earnings to be in the range of $0.70-$0.85 per share. Analysts expect the company to report earnings of $0.89 per share for the second-quarter.
The company maintained its previous full-year 2013 estimates of potash gross margin in the range of $1.9 billion - $2.4 billion and shipments between 8.5 million and 9.2 million tonnes.
The company maintained its full-year 2013 net income guidance at $2.75-$3.25 per share. Analysts expect the company to report earnings of $3.01 per share for fiscal 2013.
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