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Mosaic -1% as dividend cut dims better than expected Q4 results

Feb. 07, 2017 8:45 AM ETThe Mosaic Company (MOS) StockMOSBy: Carl Surran, SA News Editor4 Comments
  • Mosaic (NYSE:MOS) -1% premarket after reporting better than expected Q4 earnings - which included a negative $0.23 impact from notable items - but cutting its annual dividend to $0.60/share, down 45% from a previous $1.10.
  • "While we are confident the market bottom is behind us, the pace of improvement is expected to be gradual," MOS says in explaining the dividend cut, which will take effect with the next declaration.
  • Q4 revenues fell to $1.86B from $2.16B in the year-ago period but beat the $1.8B analyst consensus; Q4 phosphate sales volume of 2.5M metric tons came in ahead of company guidance of 2.1M-2.4M tons, and potash sales volume of 2M metric tons was in-line with guidance of 1.9M-2M tons.
  • Potash cash production costs tumbled 28% Y/Y in the quarter, while phosphate conversion costs fell 15%.

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