Yara Posts Drop In Q3 Profit

Yara International ASA

reported a drop in its third-quarter net profit. Yara's quarterly net profit fell to NOK2.62 billion ($465 million), from NOK3.57 billion, in the year-ago period. Its revenue declined to NOK20.82 billion, from NOK21.18 billion. However, analysts were expecting a net profit of NOK2.46 billion on revenue of NOK21.12 billion. Yara's earnings before interest, depreciation and amortization dropped to NOK4.11 billion, from NOK5.44 billion and versus analysts' estimates of NOK4.16 billion. Yara's shares closed at $52.00 yesterday.