Mosaic Reports Declines Across the Board for Q4 2015

The Mosaic Company (NYSE:MOS) released its results for Q4 2015, as well as the year as a whole, noting that its quarterly net earnings came in at $155 million, down from $361 million in Q4 2014.
Other Q4 highlights are as follows:

Earnings per diluted share were $0.44 and included both a negative $0.16 impact from notable items and a benefit of $0.07 per share from adjusting the full year effective tax rate accrual. Mosaic’s net sales in the fourth quarter of 2015 were $2.2 billion, down from $2.4 billion last year. Operating earnings during the quarter were $204 million, down from $365 million a year ago, impacted by lower potash and phosphate prices and volumes, as well as lower potash production, partially offset by cost savings.

Joc O’Rourke, president and CEO of Mosaic, commented:

Our fourth quarter results reflect the cyclicality and seasonality of our business. Our progress on cost savings initiatives and strategic investments has positioned Mosaic to optimize performance in the current macroeconomic environment. At the same time, our prudent balance sheet management allows us to take advantage of opportunities to create long-term value. Repurchasing shares at the bottom of the cycle is high on the priority list.

Click here to read the full press release from the Mosaic Company (NYSE:MOS).