Friday Night Guidance Lowering - Potash
– Potash (POT) Cuts FY2009 EPS forecast to a range of $3.25-3.75 v $4.16 est; cites weak sales volumes.
– Reduced from FY guidance range of to $4.00-5.00 given on 23 July.
– Sees Q3 EPS at the low end of a range of $0.80-$1.20 v $0.93 est.
– The change primarily reflects lower than forecasted sales volumes due to continued slow demand and limited restocking by fertilizer distributors around the world.
– Over the past 12 months, nearly 20 million tonnes of Potash production has been curtailed by global producers.




