Mosaic Posts Strong First Quarter

Mosaic reported net income for its fiscal first quarter of $305.5 million, close to three times its year-ago income of $109 million. Sales increased 55%, to $2 billion. First-quarter operating income climbed to $449.6 million, compared to $131.6 million for the year-ago period. The increase was primarily a result of higher selling prices for phosphates and potash and an increase in volumes in the Potash business, Mosaic says. Prices for phosphates remain strong and prices for potash have increased, which should result in strong earnings and cash flow for the...

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