July 26 (Reuters) - German potash and salt miner K+S on Wednesday cut its core profit guidance for the third time this year, citing a drop in the selling price of potash in Brazil during the second quarter.
The group expects full-year earnings before interest, tax, depreciation and amortisation (EBITDA) for the full year in the range of 600 million to 800 million euros, after previously guiding for 800 million euros ($885 million).
K+S said the currently observed potash price recovery had started later than assumed.
Potash prices fell from near record highs touched in 2022 following a drop in demand as farmers used up existing fertiliser stocks while cutting back on its use to rein in costs.
K+S said it expects EBITDA to come in at about 24 million euros in the second quarter, below a company-provided consensus of 70.5 million euros.
Its shares closed 1.68% lower. ($1 = 0.9038 euros) (Reporting by Anastasiia Kozlova and Bartosz Dabrowski; Editing by Kirsten Donovan)
