IHS Chemical Week

Mosaic reports lower earnings

11:29 AM MDT | July 16, 2013

Though potash and phosphate shipments were strong, Mosaic today reported a drop in earnings and sales for its fiscal fourth quarter 2013 ended 31 May. Net earnings of $486 million were down 4% year-on-year (YOY) as record potash and strong phosphate sales volumes were more than offset by lower prices, the company says. Earnings per share of $1.14/share were slightly above analyst estimates of $1.13/share, according to Thomson Reuters (New York). Sales dropped 3.5%, to $2.7 billion YOY. "Mosaic delivered outstanding results despite difficult external factors such...

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