MOS - The Mosaic Company (MOS) Q1 2024 Earnings Call Transcript
2024-05-02 15:54:10 ET
The Mosaic Company (MOS)
Q1 2024 Earnings Conference Call
May 02, 2024, 11:00 AM ET
Company Participants
Jason Tremblay - VP, Finance, Strategy & Digital Transformation
Bruce Bodine - President and CEO
Clint Freeland - EVP and CFO
Jenny Wang - EVP, Commercial
Conference Call Participants
Steve Byrne - Bank of America
Vincent Andrews - Morgan Stanley
Viktor Sayek - Scotiabank
Joel Jackson - BMO
Chris Parkinson - Wolfe Research
Richard Garchitorena - Wells Fargo
Adam Samuelson - Goldman Sachs
Ben Theurer - Barclays
Andrew Wong - RBC Capital Markets
Josh Spector - UBS
Charles Neivert - Piper Sandler
Edlain Rodriguez - Mizuho
Presentation
Operator
Good morning, everyone, and welcome to The Mosaic Company's First Quarter 2024 Earnings Conference Call. [Operator Instructions]
At this time, I'll turn the floor over to your host for today's call, Jason Tremblay. Jason, you may begin.
Jason Tremblay
Thank you, and welcome to our first quarter 2024 earnings call. Opening comments will be provided by Bruce Bodine, President and Chief Executive Officer; followed by a fireside chat, then open Q&A. Clint Freeland, Executive Vice President and Chief Financial Officer; and Jenny Wang, Executive Vice President of Commercial, who will also be available to answer your questions. We will be making forward-looking statements during this conference call. The statements include, but are not limited to statements about future financial and operating results.
They are based on management's beliefs and expectations as of today's date and are subject to significant risks and uncertainties. Actual results may differ materially from projected results. Factors that could cause actual results to differ materially from those in the forward-looking statements are included in our press release published yesterday and in our reports filed with the Securities and Exchange Commission. We will also be presenting certain non-GAAP financial measures. Our press release and performance data also contain important information on these non-GAAP measures.
Now I'd like to turn the call over to Bruce.
Bruce Bodine
Good morning. Thank you for joining our call.
In addition to reviewing Mosaic's performance for the quarter, there are three key topics we'll discuss today. First, the transaction we announced with Ma'aden highlights our commitment to unlocking shareholder value. Exchanging our 25% stake in the MWSPC joint venture for an approximately $1.5 billion position in Ma'aden provides a clear indication of value and greater capital flexibility in the future; second, we are making good progress on several high-return, low-capital intensity initiatives that will improve results across the commodity cycle; and third, fertilizer market fundamentals remain constructive and the phosphate supply and demand picture is particularly compelling.
As the North America spring planting season winds down and fertilizer prices have moderated, fertilizer demand strength is now emerging in other key agricultural geographies, which will bode well for pricing in the second half of the year. Before I dive deeper into these areas, let me summarize our first quarter results....
The Mosaic Company (MOS) Q1 2024 Earnings Call Transcript