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Markets :: Basic Chemicals :: Inorganic Chemicals :: Fertilizers

Mosaic Earnings Slide 50% on Weak Potash Demand

3:46 PM MDT | March 28, 2012 | Rebecca Coons

Mosaic third quarter earnings slid 50% on weak potash sales and higher phosphate costs, although the company still anticipates near-record global shipments in 2012. The company posted earnings of $273 million (64 cts/share) for its fiscal third quarter ended February 29, falling short of analysts estimates of 74 cts/share, as reported by Thomson Reuters (New York).  Sales were flat at $2.2 billion. Mosaic attributed a 27% drop in potash sales, to $553 million, to delayed purchases. Compared to the prior-year quarter, volumes declined 41%, to 1.1 million...

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