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Mosaic's third-quarter earnings plunge

11:04 AM MST | November 5, 2013 | Lindsay Frost

Mosaic today reported results for its third quarter, when net income plunged 70% year-on-year (YOY), to $124 million. Net earnings per share of 29 cts/share dipped below last year’s 98 cts/share and below analyst estimates of 51 cts/share, according to Thomson Reuters (New York). Results include a negative impact of notable items, largely noncash, primarily as a result of strategic decisions to divest assets or operations, the company says. Sales, hurt by lower prices and lower North American sales volumes, were down 26%, to $1.9 billion. "Lower potash...

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