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Mosaic Profit Jumps 77%, But Misses Estimates

3:46 PM MDT | September 28, 2011 | Rebecca Coons

Mosaic's first quarter earnings surged 77%, to $526 million ($1.17/share), on higher prices and volumes for potash and phosphates, although results fell short of analysts' estimates of $1.27/share as reported by Thomson Reuters (New York). Sales were 41% higher for the quarter ended August 31, to $3.1 billion. The current quarter was impacted by pre-tax charges of $26 million (4 cts/share). "We just completed another excellent quarter for Mosaic," says Jim Prokopanko, president and CEO  of Mosaic.  "Strong agricultural markets combined...

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