Potash Corporation Beats Estimates

Posted by Louis Navellier on 7/24/08 8:36 am

My big bet on fertilizer stocks was hopefully vindicated today after Potash, a top-10 holding in my new Vantage portfolio, announced that its second-quarter sales rose 94.1% and earnings jumped 220.5%, which was 11.9% better than analysts’ expectations.  Even better, the company raised its full-year guidance well above expectations.  According to a FactSet Research survey, analysts were estimating earnings of $10.63 per share for the year.  But Potash is now expecting $12-$13 per share.

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