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Industry: Email Alert RSS FeedPCS, FMC to Exceed 3Q Expectations.(Potash Corporation of Saskatchewan Inc.; FMC Corp.)(Brief Article)
Chemical Market Reporter, September, 2000
DESPITE THE snowstorm of earnings warnings in the US chemical industry from high raw material and energy costs and the weak Euro, two companies bucking the trend are Potash and FMC. Potash Corporation of Saskatchewan Inc. (PCS) expects higher nitrogen prices, a well hedged natural gas position and strong offshore potash sales volumes to drive third quarter earnings per share to approximately 70 cents compared to the consensus estimate of 41 cents.
If market conditions in potash and nitrogen remain strong for the rest of the year, the company expects to surpass its previous EPS guidance for 2000 of $3.00 by at least 10 percent. Tight inventories have boosted average nitrogen prices by over 40 percent from year-ago levels. In addition, the company...
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