Mosaic Q2 Swings To Loss On Lower Sales, Higher Costs
(RTTNews) - The Mosaic Co. (MOS) on Tuesday posted a second-quarter net loss, as higher raw material costs and lower sales volumes offset stronger phosphate and potash prices.
The fertilizer producer posted a net loss attributable to Mosaic of $272.8 million, or $0.86 per share, compared with net income of $410.7 million, or $1.29 per share, in the prior-year quarter.
Adjusted earnings were $0.13 per share, compared to $0.51 per share last year.
Net sales declined to $2.82 billion from $3.01 billion a year earlier.
The Phosphate segment reported an operating loss of $104 million, compared with a loss of $8 million a year ago, as higher raw material costs and lower production volumes more than offset higher selling prices. Potash operating earnings were $195 million, essentially flat from $194 million last year, while Mosaic Fertilizantes swung to an operating loss of $41 million from earnings of $109 million due to lower sales volumes and higher sulfur costs.
Looking ahead, Mosaic reduced its 2026 capital expenditure outlook to $1.2 billion from the previously expected $1.25 billion. The company continues to expect potash production of about 9 million tonnes this year.
For the third quarter, it forecasts phosphate sales volumes of 1.1 million to 1.4 million tonnes and potash sales volumes of 2.0 million to 2.2 million tonnes.
