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Mosaic earnings fall on lower selling prices

11:02 AM MDT | May 6, 2014 | Vincent Valk

Mosaic today reported net income down 43% year-on-year (YOY), to $218 million, or 54 cts/share, on sales down 13%, to $2 billion. "While weather continued to create challenges in the operating environment, strong global demand for phosphates pushed prices and margins higher during the first three months of the year, and our early positioning of potash in North America allowed for significant volume growth,” says Jim Prokopanko, president and CEO of Mosaic. Phosphates segment sales declined 16% YOY, to $1.3 billion, while segment operating earnings fell...

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