Tue, Nov. 3, 8:28 AM
- Mosaic (NYSE:MOS) reports better than expected Q3 earnings, which it attributes to its cost reduction efforts, share repurchases and a lower effective tax rate.
- MOS says SG&A expenses fell nearly 9% Y/Y to $76.6M, but net earnings attributable to the company fell nearly 21% to $160M ($0.45/share) because of lower sales of phosphates and potash.
- MOS says its Q3 net phosphates sales fell to $1B from $1.1B a year earlier, while potash net sales dropped to $492M from $593M.
- For Q4, MOS expects phosphates sales volumes of 1.9M-2.2M metric tons vs. 2.4M a year ago, and potash sales volumes of 1.8M-2.1M metric tons vs. 2.3M a year ago.
- MOS also lowers the upper end of its full-year capex forecast to $1.2B from $1.3B while retaining the lower end at $1.1B.
Tue, Nov. 3, 6:58 AM
Mon, Nov. 2, 5:30 PM
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Tue, Aug. 4, 3:22 PM
- Mosaic (MOS +2.8%) continues to maintain solid gains after reporting better than expected Q2 earnings thanks to higher sales of phosphates, which now account for more than half of the company's operating earnings.
- MOS says Q2 net sales of phosphates totaled $1.4B, up from $1.3B the year before, while sales volumes in the segment were 2.8M metric tons, up from 2.6M in the prior-year period; potash net sales were $730M, down from $762M a year earlier, on lower sales volume of 2.3M metric tons vs. 2.5M a year ago.
- Phosphate prices during Q2 fell ~3% Y/Y, while potash prices climbed nearly 5% Y/Y.
- For the full year, MOS sees phosphate sales volumes of 9.5M-10M metric tons, vs. an earlier outlook for 9M-10M metric tons, and potash sales volumes of 8.2M-8.6M metric tons, vs. 8.5M-9M earlier.
- CEO Jim Prokopanko, who steps down from the job tomorrow, says Q2, which includes the spring planting season in North America, showed that farmers are not skimping on fertilizer, and says he expects farmers to behave similarly during the fall fertilizer application period.
- COO Jim O'Rourke, who is taking over for Prokopanko, says the possible takeover of German potash miner K+S by Potash Corp. would make further industry consolidation less likely.
Tue, Aug. 4, 7:02 AM
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Thu, Apr. 30, 8:58 AM
- Mosaic (NYSE:MOS) +0.2% premarket after Q1 earnings beat analyst estimates, although potash volumes fell because of issues with the North American spring fertilizer business.
- Q1 phosphate sales grew to $1.2B from $959M in the year-ago quarter, reflecting higher sales volume and higher finished-product prices, and phosphate sales volumes totaled 2.3M metric tons, on the higher end of the company’s expected range of 2.1M-2.3M.
- However, Q1 potash sales fell to $653M from $733M a year ago, and sales volume of 2M metric tons was on the low end of the company’s projection of 2M-2.3M metric tons, as "seasonal uncertainty during this time of year has been exacerbated by the delayed and compressed North American spring fertilizer applications."
- For Q2, MOS projects volumes of phosphate of 2.3M-2.7M metric tons vs. 2.6M last year, and sees potash volumes of 2M-2.4M metric tons vs. 2.5M a year ago.
Thu, Apr. 30, 6:01 AM
Wed, Feb. 11, 9:09 AM
- Mosaic (NYSE:MOS) +1.4% premarket after Q4 earnings more than doubled on higher phosphate and potash sales in anticipation of the spring season.
- MOS expects strong demand to continue, as issues upbeat guidance for volumes of phosphate, its biggest revenue driver; for the current quarter, MOS projects phosphate volumes of 2.8M-3.1M tons vs. 2.7M tons in the year-ago quarter.
- Q4 phosphate sales rose 4% Y/Y to $1.6B, reflecting lower volume but higher finished-product prices; phosphate sales volumes totaled 3.3M tons, beating the company's expected range of 2.5M-2.8M tons.
- Q4 potash sales told the opposite story of higher volume and lower prices, rising 17% Y/Y to $763M; potash sales volumes totaled 2.3M tons, on the high end of the company's projection of 2M-2.3M tons.
- For the current quarter, MOS again expects potash sales volumes of 2M-2.3M tons, down from 2.4M tons last year.
Wed, Feb. 11, 7:03 AM
Tue, Feb. 10, 5:30 PM
Oct. 30, 2014, 7:08 AM
Jul. 31, 2014, 7:03 AM
May 6, 2014, 7:59 AM
- Mosaic (MOS) -1.9% premarket after reporting a larger than expected 43% Y/Y drop in Q1 earnings on declining sales, hurt by lower prices for phosphate and potash.
- Q1 phosphate sales totaled 2.7M metric tons, above forecast 2.3M-2.6M tons; average realized price was $414/ton, above the prior quarter's $381 but well below the year-ago price of $491.
- Q1 potash sales totaled 2.4M metric tons, near the low end of expectations; average selling price $267/ton, vs. $303 per ton in Q4 and $376 a year ago.
- MOS forecasts Q2 phosphate sales volumes of 3.1M-3.4M metric tons, up from 2.9M tons last year, at realized prices of $430-$460/ton; expects potash sales of 2.2M-2.5M metric tons, compared with 2.4M tons a year ago, at realized prices of $250-$275/ton.
- Sees FY 2014 capex of $1.2B-$1.4B.
May 6, 2014, 7:07 AM
May 5, 2014, 5:30 PM
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