Revenue during the quarter dropped 21.86 percent to $1,058 million from $1,354 million in the previous year period. Gross margin for the quarter contracted 1121 basis points over the previous year period to 17.30 percent. Total expenses were 89.98 percent of quarterly revenues, up from 76.81 percent for the same period last year. That has resulted in a contraction of 1317 basis points in operating margin to 10.02 percent.

Operating income for the quarter was $106 million, compared with $314 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $293 million compared with $482 million in the prior year period. At the same time, adjusted EBITDA margin contracted 790 basis points in the quarter to 27.69 percent from 35.60 percent in the last year period.

"Strong customer engagement and positive potash pricing trends from the second half of 2016 are expected to carry into the new year," said PotashCorp president and chief executive officer Jochen Tilk. "Supported by healthy underlying consumption, lower global inventories and with Canpotex fully committed for the first quarter of 2017, we see a continued potash recovery. Balancing this constructive market view is a more cautious second-half outlook for our nitrogen earnings and expected challenges for our phosphate results."

The company has spent $895 million cash to meet investing activities during the year as against cash outgo of $1,284 million in the last year.

The company has spent $424 million cash to carry out financing activities during the year as against cash outgo of $1,178 million in the last year period.

Cash and cash equivalents stood at $32 million as on Dec. 31, 2016, down 64.84 percent or $59 million from $91 million on Dec. 31, 2015.

Debt moves up
Potash Corporation Of Saskatchewan has witnessed an increase in total debt over the last one year. It stood at $4,591 million as on Dec. 31, 2016, up 8.61 percent or $364 million from $4,227 million on Dec. 31, 2015.