November 14, 2019 / 6:35 AM / 22 days ago

K+S reports Q3 above expectations but cuts output again

Nov 14 (Reuters) - German minerals miner K+S on Thursday reported a beat in third-quarter revenues and core earnings but said it would further cut production of potassium chloride this year by 200,000 tonnes.

The world’s largest producer of salt for food and de-icing also updated its guidance following the second production cut and now expects earnings before interest, tax, depreciation and amortization (EBITDA) for the full year of 650 million euros ($716.30 million).

Third-quarter EBITDA rose to 81 million euros, above a median consensus provided by the company of 78.4 million euros.

K+S said revenues rose 8% to 905 million euros, beating a median consensus it provided of 866.7 million euros. (Reporting by Silvia Recchimuzzi in Gdansk; Editing by Clarence Fernandez)

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