MOS - Mosaic slips after Q1 miss as logistics weigh on sales volumes

Mosaic (NYSE:MOS) -3.4% post-market on Monday after narrowly missing Q1 adjusted earnings expectations, as revenues rose 71% Y/Y to $3.92B but short of estimates, hurt by logistical constraints that are expected to improve but linger into Q2. Q1 net income surged more than 7x to $1.18B, or $3.19/share, from $157M, or $0.41/share, in the year-earlier quarter; adjusted EBITDA nearly tripled to $1.45B from $560M a year ago. Q1 potash net sales more than doubled to $1.06B from $477M a year ago, as sales volumes fell ~10% Y/Y to 1.8M metric tons but MOP selling price jumped to $582 from $200, and adjusted gross margin quadrupled to $323/ton from $82/ton; Mosaic (MOS) said winter weather affected rail performance and delayed shipments. Q1 phosphates net sales jumped 50% Y/Y to $1.5B, as sales volumes fell 19% to 1.7M metric tons but DAP selling price surged to $785 from $477, and adjusted gross

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Mosaic slips after Q1 miss, as logistics weigh on sales volumes