Oct 26 (Reuters) - Canada’s Potash Corp of Saskatchewan reported a smaller-than-expected quarterly profit on Thursday and tightened its full-year earnings forecast as costs increased.
The company’s third-quarter revenue rose 8.6 percent to $1.23 billion, helped by higher sales volumes and average realized prices of potash.
However, cost of goods sold rose 5 percent in the quarter ended Sept. 30, resulting in a smaller profit.
Net income fell to $53 million, or 6 cents per share, in the quarter, from $81 million, or 10 cents per share, a year earlier.
Potash Corp, which is merging with rival Agrium Inc , tightened its full-year adjusted earnings to 48-54 cents per share from 45-65 cents per share.
Excluding items, the company reported a profit of 9 cents per share lower than the 12 cents analysts had expected, according to Thomson Reuters I/B/E/S. (Reporting by Akshara P; Editing by Bernard Orr and Martina D‘Couto)