Terra Sees Posting 72 Percent Decline In 3Q Profit

SIOUX CITY, Iowa (AP) — Fertilizer company Terra Industries Inc. on Monday said it plans to report a 72 percent drop in its third-quarter profit, as lower nitrogen products sales prices and weaker agricultural and industrial demand cut away at revenue.

Terra expects quarterly earnings of $45.9 million, compared with $164.9 million during the same period last year. The company did not provide diluted earnings per share estimates.

Revenue will likely fall 56 percent to $347 million, down from $790.2 million in the prior-year period.

Analysts polled by Thomson Reuters predicted earnings of 56 cents per share on revenue of $359.3 million.

Terra plans to report actual results on Thursday.

Shares of Terra rose 5 cents to $36.41 in morning trading.