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potash corp of saskatchewan (POT) Key Developments

Potash Corporation of Saskatchewan Inc. Announces Board Changes

On July 22, 2014, Potash Corporation of Saskatchewan Inc. received notice from William J. Doyle of his resignation from his position as a member of the company's Board of Directors. Mr. Doyle's resignation was accepted by the Board on July 23, 2014. On July 23, 2014, the Board appointed Jochen Tilk, 50, to fill the vacancy on the Board created by Mr. Doyle's resignation.

Potash Corp. of Saskatchewan, Inc. Reports Unaudited Consolidated Earnings and Production Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Third Quarter and Full Year of 2014

Potash Corp. of Saskatchewan, Inc. reported unaudited consolidated earnings and production results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported sales of $1,892 million against $2,144 million a year ago. Operating income was $686 million against $927 million a year ago. Income before income taxes was $638 million against $888 million a year ago. Net income was $472 million or $0.56 per diluted share against $643 million or $0.73 per diluted share a year ago. Cash provided by operating activities was $788 million against $1,202 million a year ago. Additions to property, plant and equipment was $199 million against $354 million a year ago. Other assets and intangible assets were $8 million against $5 million a year ago. EBITDA was $868 million against $1,113 million a year ago. Adjusted EBITDA was $868 million against $1,113 million a year ago. For the six months, the company reported sales of $3,572 million against $4,244 million a year ago. Operating income was $1,217 million against $1,744 million a year ago. Income before income taxes was $1,122 million against $1,670 million a year ago. Net income was $812 million or $0.95 per diluted share against $1,199 million or $1.37 per diluted share a year ago. Cash provided by operating activities was $1,327 million against $1,940 million a year ago. Additions to property, plant and equipment was $423 million against $850 million a year ago. Other assets and intangible assets were $10 million against $10 million a year ago. EBITDA was $1,575 million against $2,084 million a year ago. Adjusted EBITDA was $1,613 million against $2,084 million a year ago. For the third-quarter of 2014, the company expects net income to be in the range of $0.35 per share to $0.45 per share. For 2014, the company expects net income to be in the range of $1.70 per share to $1.90 per share. Capital expenditures are expected to be $1.1 billion. Effective tax rate is expected to be in the range of 26% to 28%. For the quarter, the company reported potash production of 2,321,000 tones against 2,677,000 tones a year ago. Nitrogen production was 830,000 tones against 726,000 tones a year ago. Phosphate production was 459,000 tones against 521,000 tones a year ago. For the six months, the company reported potash production of 4,716,000 tones against 4,702,000 tones a year ago. Nitrogen production was 1,663,000 tones against 1,449,000 tones a year ago. Phosphate production was 828,000 tones against 1,020,000 tones a year ago.

Potash Corp. of Saskatchewan, Inc. to Report Q2, 2014 Results on Jul 24, 2014

Potash Corp. of Saskatchewan, Inc. announced that they will report Q2, 2014 results at 6:00 AM, US Eastern Standard Time on Jul 24, 2014

Potash Corp. of Saskatchewan, Inc., Q2 2014 Earnings Call, Jul 24, 2014

Potash Corp. of Saskatchewan, Inc., Q2 2014 Earnings Call, Jul 24, 2014

PotashCorp Announces Management Changes

PotashCorp announced that Michael Hogan, president of PCS Potash, will retire on June 30, 2014 and Mark Fracchia will replace him. Fracchia is the current vice president of safety, health and environment. In addition currently president of PCS Phosphate and PCS Nitrogen, will assume the PotashCorp-appointed role of General Manager at Arab Potash in Amman, Jordan. Replacing Heimann as PCS Nitrogen president will be Raef Sully, currently vice president of project management & capital. Paul Dekok, vice president of phosphate, will be promoted to the role of president.

 

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