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Mosaic earnings down, CEO to return from medical leave

11:19 AM MDT | July 31, 2014 | Lindsay Frost

Mosaic today reported its results for the second quarter, with net income of $248 million down 73% year-over-year (YOY) with earnings per share of 64 cts/share below analyst estimates of 74 cts/share, according to Thomson Reuters (New York). Notable items negatively impacted earnings, and higher phosphate volumes were more than offset by significantly lower realized potash prices, the company says. Net sales in the quarter were $2.4 billion, down 8% YOY. "Mosaic's business momentum accelerated from the first quarter to the second quarter," says Larry...

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