• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Agriculture Market
    Agriculture News
    Agriculture Stocks
    • Agriculture Market
    • Agriculture News
    • Agriculture Stocks
    phosphate investing

    Mosaic Reports Q2 Earnings of US$68-million

    Georgia Williams
    Aug. 07, 2018 10:11AM PST
    Agriculture Investing

    The Mosaic Company is one of the world’s leading producers of concentrated phosphate and potash crop nutrients. 

    The Mosaic Company (NYSE:MOS) has released its Q2 2018 financial and operational update. During the second quarter of 2018, the potash and phosphate company had net earnings of US$68 million.

    The Mosaic Company is one of the world’s leading producers of concentrated phosphate and potash crop nutrients.

    As quoted from the press release:

    EBITDA during the quarter was US$333 million, or US$461 million adjusted for notable items, up both sequentially and year-over-year. Second quarter earnings per share were US$0.18, which included a negative impact of US$0.22 per share from notable items, primarily related to non-cash currency translation charges and costs related to the Vale Fertilizantes acquisition, partially offset by discrete tax benefits. Adjusted earnings per share during the second quarter of 2018 were US$0.40, ahead of both last year and the first quarter of 2018.

    Highlights:

    • Guiding to full-year adjusted EBITDA in the range of US$1.80 – US$1.95 billion, up from the previously increased US$1.70 – US$1.90 billion range.
    • Raising full-year adjusted EPS guidance to US$1.45 – US$1.80, from US$1.20 – US$1.60, due to strong underlying business performance and lower expected full-year effective tax rate.
    • Generated cash flow from operating activities of US$807 million in the quarter, benefiting from strong business performance and prepayments from customers in Brazil.
    • Delivered on Mosaic Fertilizantes synergy targets with US$56 million in gross synergies realized year-to-date, or US$34 million net of costs to achieve them. Run rate savings were well over US$100 million as of June 30, 2018.
    • Achieved record MicroEssentials® sales volumes in the second quarter.
    • Paid down an additional US$200 million of long-term debt subsequent to quarter end, reaching our full-year 2018 debt retirement target of $500 million.

    “We are seeing positive developments in potash and phosphate markets and we expect the momentum to continue,” said Joc O’Rourke, President and CEO. “Strong operational performance across our three business units and constructive market developments are driving improved earnings and cash flow. We are making excellent progress on the transformational initiatives at Mosaic Fertilizantes and are well positioned to benefit from today’s improved business environment.”

    Click here to read the full announcement

    phosphate investingthe mosaic companynyse:mos
    The Conversation (0)

    Go Deeper

    AI Powered
    Tractor on farm field.

    9 Phosphate Stocks to Watch

    First Quantum Minerals Reports First Quarter 2023 Results

    First Quantum Minerals Reports First Quarter 2023 Results

    Latest News

    Preliminary Final Report

    More News

    Outlook Reports

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Agriculture Investing Stocks

    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES
    ×