Q2 2020 earnings are all-round much better than expectations
Mosaic's (MOS) Q2 2020 financial results announced on August 3rd after the market close are much better than expectations on all counts. We point out two key positive messages in these results:
- Mosaic's Phosphates segment has benefited from lower cash costs, which is anticipated to sustainably improve its gross margin.
- Phosphates market guidance is much better on improvement in the demand-supply perspective.
Q2 Non-GAAP EPS of $0.11 beats by $0.12; GAAP EPS of $0.12 beats by $0.17. Revenue at $2.04 billion though down 6.4%