Mosaic earnings up despite flat sales on low volumes

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-on-year (YOY) primarily because of lower phosphate volumes and margins, the company says. Net sales for the quarter were $2.5 billion, down 17% YOY—also because of lower phosphate volumes, as well as potash volumes and lower phosphate...

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