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Chemical Week Magazine :: Business & Finance :: United States/Americas
Mosaic Earnings Slide 50% on Weak Potash Demand
5:55 AM MDT | April 6, 2012 | —Rebecca Coons
Mosaic third quarter earnings slid 50% on weak potash sales and higher phosphate costs, although the company still anticipates near-record global shipments in 2012. The company posted earnings of $273 million (64 cts/share) for its fiscal third quarter ended February 29, falling short of analysts estimates of 74 cts/share, as reported by Thomson Reuters (New York). Sales were flat at $2.2 billion. Mosaic attributed a 27% drop in potash sales, to $553 million, due to delayed purchases. Volumes declined 41%, to 1.1 million m.t., compared with the prior-year...
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