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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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.
Feb. 11, 2014, 7:02 AM| 1 Comment
Feb. 11, 2014, 12:05 AM
Feb. 10, 2014, 5:30 PM
Jan. 30, 2014, 8:22 AM
- Potash (POT) -4.3% premarket after posting a 45% drop in Q4 earnings and issuing weaker than expected earnings guidance for 2014 on expectations for continued pricing pressure.
- Gross margins fell as lower prices for all three fertilizer nutrients - potash, nitrogen and phosphate - outweighed improved costs and higher sales volumes.
- In its downside guidance, POT sees Q1 EPS of $0.30-$0.35 vs. $0.46 analyst consensus, and sees FY 2014 EPS of $1.40-$1.80 vs. $2.01 consensus.
- Q4 potash sales volumes rose 13%, largely fueled by North American activity, but average potash prices fell to $282/metric ton in the quarter from $387 a year earlier; while POT near-term pressure on potash prices appears to have subsided, "its impact is expected to suppress our offshore realizations through the early part of 2014."
- Among peers: MOS -1.2%, IPI -2.1% premarket.
Nov. 5, 2013, 8:12 AM
- Mosaic (MOS) -0.2% premarket after Q3 earnings fell 70% and missed estimates, primarily driven by lower prices and lower North American sales volumes.
- Q3 phosphate net sales fell 18% to $1.4B, primarily driven by lower finished product prices, and phosphate sales volume was 2.7M metric tons vs. 2.9M in the year-ago period; potash net sales fell 44% to $523M, due to lower domestic shipment volumes and lower realized prices, and potash sales volume was 1.4M metric tons vs. 1.8M a year ago.
- Q4 phosphate sales volumes are expected at 2.5M-2.9M metric tons vs. 2.8M last year, at an average selling price of $370-$400/metric ton; gross margin percentage is estimated to be flat Q/Q.
- Q4 potash sales volumes are expected at 1.5M-1.9M metric tons vs. 1.4M in the year-ago period, at an average selling price of $285-$310/ metric ton; gross margin rate is seen in the mid-20% range.
- Says it will exit its underperforming distribution businesses in Argentina and Chile; also will close a small potash mine at Hersey, Mich., and sell its salt operation.
Nov. 5, 2013, 7:01 AM
Nov. 5, 2013, 12:05 AM
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Nov. 4, 2013, 5:30 PM
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Aug. 8, 2013, 12:50 PM
- Agrium (AGU +3.5%) says it plans to complete the expansion of its Vanscoy potash mine in Saskatchewan despite the breakup of Belarusian Potash, which raised fears of a drop in prices (earnings call).
- Construction of the $1.7B project, which is ~40% complete, is expected to boost potash capacity by 60% to as much as 3.2M metric tons by the end of 2014.
- CEO Mike Wilson sees no changes at Canpotex, which it owns jointly with Potash (POT +3.2%) and Mosaic (MOS +5%) to sell Saskatchewan potash offshore, praising the cost structure and relationships with customers.
Jul. 16, 2013, 4:03 PMAgrium (AGU -2.2%) and Potash (POT -3%) are finishing lower after Mosaic (MOS -3.6%) reports in-line May quarter EPS to go with a revenue beat, as weak prices offset strong potash/phosphate sales. Mosaic also issued soft price guidance for the August quarter, made cautious remarks about Indian demand (citing subsidy cuts), and hinted Chinese customers are looking for lower prices. "Chinese buyers will be sorely tempted to pull the trigger if we go below anything where we're at today." The company plans to run its Canadian mines at less than 75% of capacity this quarter, ostensibly for maintenance. (Mosaic transcript) | 5 Comments
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