Merger with Agrium looks value-neutral for PotashCorp shareholders.
Narrow-moat PotashCorp reported first-quarter earnings that were slightly above our expectations. During the quarter, the company benefited from higher potash prices, lower costs, and increased volumes, which led management to increase the midpoint of EPS guidance to $0.55 from $0.10. Management also raised the bottom of its potash volume guidance. Although the company continues to face fertilizer price headwinds, we think the lows from the second half of 2016 have abated and the company will be...Potash Corp. of Saskatchewan isa fertilizer producer by capacity producing the three primary crop nutrients: potash, nitrogen and phosphate, which is used for agricultural, industrial and animal nutrition purposes. Co.'s potash operations include the mining and production of potash, which is used as fertilizer. Co.'s phosphate operations include the manufacture and sale of solid and liquid phosphate fertilizers, phosphate feed and industrial acid, which is used in food products and industrial processes. Co.'s nitrogen operations include production of nitrogen fertilizers and nitrogen feed and industrial products, including ammonia, urea, nitrogen solutions, ammonium nitrate and nitric acid.
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