April 29, 2010 – Canadian mineral and mining company PotashCorp reported its second-highest Q1 earnings in company history, with earnings of $1.47 per share — a 46% increase over Q1 2009.
Sales of potash spiked as fertilizer demand fizzled, and the nutrient was responsible for generating 72% of PotashCorp’s Q1 gross margin of $715.1 million.
PotashCorp President and CEO Bill Doyle said, “With soil nutrient shortfalls created by nearly 18 months of substantially reduced fertilizer consumption, farmers began to resume the more scientifically sound fertilization practices essential to sustain crop production.”
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