After Friday’s closing bell, Potash Corp. lowered their third-quarter and full year guidance.

Potash cited slowing sales volume, due to stagnating demand. For the fiscal year 2009, the company lowered it’s profit guidance from $3.75 per share all the way down to $3.25. The median estimate on the street was $4.16.

POT also lowered third-quarter guidance to $0.80 per share, down from $1.20.

As seems to be the case on a quarterly basis, Chief Executive Bill Doyle remained optimistic towards future growth:

“We anticipate a new wave of demand growth that will allow us to once again demonstrate the full potential of our company,”

Shares dropped close to 4% in after-market trading, as many were expecting some guidance drop due to the recent news in the agri market. Heading into monday’s session shares sit at $93.34 on the Dow.

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