MOS - Mosaic misses Q3 numbers as potash phosphate sales volumes drop

Mosaic (NYSE:MOS) -3.9% post-market after missing Q3 earnings and revenue estimates, as potash sales volumes fell 22% to 1.8M from 2.3M metric tons in both Q2 and in the year-ago quarter, and phosphate volumes slipped 10% Q/Q and 15% Y/Y to 1.8M tons. Q3 revenues rose 44% Y/Y to $3.4B as stronger pricing more than offset the lower volumes; the gross margin rate in the quarter rose to 25.3% from 14.9% a year earlier. Mosaic said the decline in potash sales volumes were the result of the June closure of the Esterhazy K1 and K2 shafts, and sales volumes are expected to return to more normal levels of ~2M tons in Q4. The company attributed the drop in phosphate sales volumes to the effects of Hurricane Ida and an equipment failure at its New Wales facility in Florida; operations in Louisiana have been restored to full capacity and repairs at

For further details see:

Mosaic misses Q3 numbers as potash, phosphate sales volumes drop