* Q3 EBIT 1 12 mln euros vs Reuters poll average of 17 mln euros
* FY outlook for EBIT 1 between 260 mln euros and 360 mln euros confirmed
* Q3 revenue up 6 pct to 727 mln euros vs Reuters poll avg of 793 mln euros (Adds details on revenues, CEO quote, and background)
FRANKFURT, Nov 15 (Reuters) - German potash miner K+S SDFGn.DE on Wednesday reported an operating profit and a moderate increase in revenue for the third quarter, but fell short of market expectations.
Operating profit adjusted for currency hedging effects (EBIT I) came in at 12 million euros ($14 million) compared with a loss of 31 million euros a year ago. Analysts polled by Reuters had expected 17 million euros on average. German mining group confirmed its full-year outlook for EBIT 1 in a wide range between 260 million euros and 360 million euros.
Quarterly revenue rose 6 percent to 727 million euros, also short of the average analysts' forecast of 793 million euros.
"Our earnings performance continued to improve in the third quarter and we made progress with important environmental and regulatory issues. Nevertheless, 2017 will remain a transitional year in which we cannot yet fully exploit our strengths," said Chief Executive Burkhard Loh.
Potash prices are at their lowest in a decade, pulled down by global capacity surplus. The decline in prices were further exacerbated by K+S's new Bethune mine in Canada, which started shipments to customers, and two mining projects by EuroChem, owned by Russian tycoon Andrei Melnichenko.
($1 = 0.8485 euros)