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Markets :: Basic Chemicals :: Inorganic Chemicals :: Fertilizers
Higher Selling Prices Boost Fertilizer Earnings
12:17 PM MDT | August 4, 2008 | Nancy Seewald
Fertilizer makers posted huge profit growth in the most recent quarter, as pricing gains more than offset slight declines in volumes. Mosaic reported net earnings of $862.5 million for its fiscal fourth quarter ended May 31, a more than four-fold increase over the same period last year. Sales doubled, to $3.46 billion. “Substantially higher” selling prices, particularly for diammonium phosphate and muriate of potash, helped boost Mosaic’s earnings, the company says. Operating income in Mosaic’s phosphates segment rose 240%, to $797.4...
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