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Mosaic’s Second-Quarter Earnings Climb
11:53 AM MST | January 9, 2008 | CW Editorial Staff
Mosaic reported net earnings of $394 million for its fiscal second quarter ended November 30, 2007, a nearly six-fold increase over the same period last year. Sales rose 44%, to $2.2 billion. Second-quarter operating income climbed to $529.6 million, compared to $90.7 million in the year-ago period. The company cites higher selling prices for phosphates and potash, as well as “favorable industry conditions” in its offshore segment. “Our unprecedented operating cash flows have allowed us to prepay $1 billion of long-term debt over an eight-month...
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