IHS Chemical Week

Mosaic earnings post slight gain despite despite flat sales

11:21 AM MST | January 4, 2013

Mosaic reported a slight gain in net earnings but a drop in sales for its fiscal second quarter ended 30 November. Net earnings of $629 million were less than 1% higher than the same year-ago quarter—with earnings per share reported as $1.47. Operating earnings were down 30%, to $560 million year-over-year (YOY) primarily due to lower phosphate volumes and margins, the company says. Net sales for the quarter were $2.5 billion, down 17% YOY—also due to lower phosphate volumes, as well as potash volumes and lower phosphate prices. "Farmers around the world are...

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