Mosaic ( NYSE: MOS ) said all of its Florida locations have been secured with some " fully evacuated ," as Hurricane Ian makes landfall near Fort Myers, not far south of the company's phosphate rock assets.
The company's facilities are expected to remain closed for at least a week due to the hurricane, a hit that could dent Q3 revenues by $240M-$300M, according to Bloomberg.
Mosaic ( MOS ) lost ~400K metric tons of finished phosphate products when Hurricane Irma struck southwest Florida in 2017.
Mosaic ( MOS ) shares plunged last week after it forecast Q3 potash sales volumes coming in near the high end of guidance but seeing phosphate sales volumes at the low end of guidance .
For further details see:
Fertilizer maker Mosaic says Florida facilities secured for hurricane