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The Mosaic Company (MOS)

- NYSE
  • Jul. 9, 2014, 10:52 AM
    • Potash (POT -0.7%) is downgraded to Neutral from Overweight at J.P. Morgan, citing valuation with shares near the firm's unchanged price target of $38.
    • JPM believes falling crop prices in anticipation of high domestic corn and soybean supplies could weigh on POT shares.
    • The firm prefers Mosaic (MOS -0.9%), as it has a lower valuation than POT and it is more exposed to increases in potash prices as it produces similar tonnage to POT with less than half the number of outstanding shares.
    | 1 Comment
  • Jul. 1, 2014, 8:20 AM
    • Saudi Arabia's Ma'aden says it signed a $5B financing deal with commercial banks and a state-owned investment fund to back its $7.5B phosphate production project in the country.
    • The project is a joint venture between Ma'aden, Saudi Basic Industries Corp. and Mosaic (MOS), and is part of Saudi state efforts to create a stronger industrial base beyond oil refining and export.
    • The project will have a production capacity of 16M metric tons/year of phosphate concentrate, sulphuric acid, phosphoric acid, as well as plants to produce calcium monophosphate and calcium diphosphate; phosphate production expected to start in late 2016.
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  • May. 29, 2014, 4:28 PM
    • Mosaic (MOS) says President and CEO James Prokopanko is taking a medical leave of absence for surgery to treat his previously disclosed cancer.
    • Lawrence Stranghoener is appointed interim CEO; he has served as Executive VP and CFO since the company's formation in 2004.
    • Richard Mack is named CFO, as Stranghoener intends to retire at the end of 2014.
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  • May. 15, 2014, 6:45 PM
    • The Mosaic Company (MOS) declares $0.25/share quarterly dividend, in line with previous.
    • Forward yield 2.03%
    • Payable June 19; for shareholders of record June 5; ex-div June 3.
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  • May. 6, 2014, 11:20 AM
    • Mosaic (MOS -2.2%) will eliminate 500 jobs in the next 12 months, part of a plan to cut $500M in costs over five years, CEO Jim Prokopanko said in this morning's earnings conference call.
    • The cuts are aimed at strengthening MOS' status as a low-cost phosphate producer and improving its relatively high cost position in potash.
    • Prokopanko also says the dividend is secure and there are no plans to scale back the share repurchase program.
    • Also heard during the call: Q2 outlook remains challenging but the company's future remains bright, MOS faces short-term containment issues in Canada, growing the Brazilian business is a key focus, and shipments are off to another fast start this year.
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  • 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.
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  • May. 6, 2014, 7:07 AM
    • Mosaic (MOS): Q1 EPS of $0.54 misses by $0.05.
    • Revenue of $1.98B (-14.3% Y/Y) misses by $520M.
    • Press Release
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  • May. 5, 2014, 5:30 PM
  • Apr. 15, 2014, 12:41 PM
    • Mosaic (MOS +0.9%) agrees to acquire Archer Daniels Midland's (ADM -1.5%) fertilizer distribution business in Brazil and Paraguay for $350M.
    • MOS says the acquisition would increase its annual distribution in the region to ~6M metric tons of crop nutrients from ~4M.
    • The parties also negotiate terms of five-year fertilizer supply agreements providing for MOS to supply ADM's fertilizer needs in Brazil and Paraguay.
    | 1 Comment
  • Mar. 21, 2014, 12:49 PM
    • Mosaic (MOS -0.7%) slips a small amount after yesterday evening announcing CEO James Prokopanko has been diagnosed with cancer and is undergoing chemotherapy. "I'm feeling well and my doctors have informed me that I was diagnosed at an early stage," says Prokopanko. "I'm planning to work a regular schedule and perform my duties as CEO, but will be limiting travel over the coming months."
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  • Mar. 5, 2014, 3:59 PM
    • Potash Corp. (POT +3.9%) and other fertilizer makers rally as FT reports the two largest shareholders in Uralkali have endorsed the logic of restarting a partnership with the Belarus potash export cartel, opening the door to a deal that would end the potash war that has roiled the industry.
    • No formal negotiations have occurred between the two companies about restarting their partnership, but the subject is said to have been mentioned informally.
    • AGU +1.5%, MOS +1.8%, IPI +4.3%.
    | 3 Comments
  • Mar. 3, 2014, 2:35 PM
    • Potash producers are bucking the broader stock market weakness, as they stand to benefit if the Ukrainian crisis leads to economic sanctions against Russia.
    • Potash is one of Russia’s important export products, Newedge's Robbert van Batenburg notes: “The erstwhile cartel between Russia and Belarus supplied 43% of total global potash demand... Non-Russian potash supplier[s] may benefit from a potential trade sanctions that could impact Russian potash exports.”
    • POT +0.6%, AGU +1%, MOS +0.2%, IPI +0.5%, CF +1.7%.
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  • Feb. 20, 2014, 4:29 PM
    • The Mosaic Company (MOS) declares $0.25/share quarterly dividend, in line with previous.
    • Forward yield 2.07%
    • Payable March 20; for shareholders of record March 6; ex-div March 4.
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  • Feb. 11, 2014, 5:57 PM
    • "We're starting to see some rays of sunlight at the end of this tunnel," Mosaic's (MOS) Jim Prokopanko said in today's earnings conference call, pointing to strengthening global demand for the company's fertilizers and rising prices for some products.
    • Phosphate prices have improved since late last year even without much Indian demand, but the world's biggest phosphate importer should buy a lot more in 2014, MOS says; also, the pace of potash shipments has already picked up substantially and looks to carry into Q2.
    • Frozen rivers in the U.S. and backlogged railways in western Canada have left MOS behind on its shipping commitments, but could push up fertilizer prices, the CEO adds.
    | 1 Comment
  • Feb. 11, 2014, 8:22 AM
    • Mosaic (MOS) +0.8% premarket after reporting a 79% drop in Q4 earnings as prices of crop nutrients potash and phosphate fell sharply.
    • Says it will buy back $1B of its shares on top of a $2B repurchase program announced in December.
    • Q4 potash sales totaled 1.9M metric tons, at the high end of expectations; average selling price was $303/metric ton, near the top of $285-$310 guidance, and production reached 65% of capacity, slightly higher than anticipated.
    • Q4 phosphate sales totaled 3.4M metric tons, above the forecast of 2.5M-2.9M; average realized price was $381/metric ton, at the lower end of $370-$400 guidance.
    • Q1 2014 potash sales are seen at 2.3M-2.7M metric tons vs. 2M in the year-ago quarter, with the average sales price expected at $245-$275; phosphate sales are seen at 2.3M-2.6M metric tons vs. 2.7M a year ago, with an average selling price of $390-$400.
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  • Feb. 11, 2014, 7:02 AM
    • The Mosaic Company (MOS): Q4 EPS of $0.30 misses by $0.12.
    • Revenue of $2.2B (-1.8% Y/Y) beats by $330M.
    • Press Release
    | 1 Comment
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Company Description
Mosaic Coproduces and markets concentrated phosphate and potash crop nutrients.Itis organized into the two business segments: Phosphates and Potash.