Mosaic sees Q3 potash volumes at high end of guidance, phosphates at low end

Sep. 23, 2022 2:53 PM ETThe Mosaic Company (MOS)CF, NTRBy: Carl Surran, SA News Editor5 Comments

Mining of potash ore in an underground mine using a mining machine

Ramil Nasibulin/iStock via Getty Images

Mosaic (NYSE:MOS) -8.5% in Friday's trading after reporting August results showing strong Y/Y gains in revenues for potash, phosphates and Mosaic Fertilizantes, although sales volumes showed large gains only for potash.

Mosaic (MOS) forecasts Q3 potash sales volumes coming in near the high end of previous guidance of 1.9M-2.1M metric tons, while FOB MOP prices are now seen in line with prices realized during Q2.

The company sees Q3 phosphate sales volumes at the low end of prior guidance of 1.7M-2M metric tons, with DAP prices on an FOB basis expected at $100M/ton lower than prices realized in Q2.

Fertilizer peers Nutrien (NTR) and CF Industries (CF) also show sharp losses, -6.3% and -8.4% respectively, as stocks suffer an across-the-board beating on Friday.

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