Mosaic Sees A Drop in Q2 Earnings and Revenue; Earnings Beat View, Revenue In-Line (MOS)

Mosaic Sees A Drop in Q2 Earnings and Revenue; Earnings Beat View, Revenue In-Line (MOS)


In a report released on Friday, crop nutrient producers and marketer Mosaic Co (MOS) said it saw a drop in earnings and revenues as phosphate volume and margins eased.

The Plymouth, Minnesota-based company reported second quarter operating earnings of $559.6 million, a -30% drop from the same period a year ago. Overall net earnings were $628.8 million, or $1.47 per share. Adjusting for one-time tax benefits, EPS came in at $1.05.

Mosaic revenue fell -15.9% in the second quarter to $2.54 billion.

Despite the drop in earnings and revenue, the company still beat the earnings view and was in line with revenue. On average Wall Street analysts expected MOS to earn 88 cents per share on revenues of $2.54 billion.

Volume and price of phosphate and potash came in to be about average with expectations in the second quarter. Looking ahead to the third quarter, MOS expects phosphate sales to be 2.5 million to 2.8 million tons with a price of $485 to $515 per ton. Potash volume is expected to be about 1.5 million to 1.8 millions tons with a price of $370 to $400 per ton.

Mosaic shares were up slightly in premarket trading on Friday. The stock is up +12.57% over the past year.

The Bottom Line
Shares of Mosaic Co. (MOS) have a 1.76% dividend yield, based on last night’s closing stock price of $56.77. The stock has technical support in the $50-$52 price area. If the shares can firm up, we see overhead resistance around the $58-$61 price levels.

Mosaic Co (MOS) is not recommended at this time, holding a DARS™ Rating of 3.2 out of 5 stars.

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