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The Mosaic Company (NYSE: MOS) announced their fourth quarter 2013 earnings of $486 million, a drop from $507 million a year ago, as well as full-year results.
The Mosaic Company (NYSE: MOS) announced their fourth quarter 2013 earnings of $486 million, a drop from $507 million a year ago, as well as full-year results.
As quoted in the press release:
For the year ended May 31, 2013, net income was $1.9 billion, or $4.42 per diluted share, compared to $4.42 per diluted share in fiscal 2012. Net sales were $10.0 billion, down from $11.1 billion a year ago. Full-year operating earnings were $2.2 billion, down from $2.6 billion a year ago. Lower net sales and operating earnings for the year were primarily driven by lower realized prices for both potash and phosphate, partially offset by higher potash volumes. Full year selling, general and administrative (SG&A) expenses were $427 million compared to $410 million last year. Net cash provided by operating activities was $1.9 billion.
Mosaic’s President and CEO, Jim Prokopanko, said:
Mosaic delivered outstanding results despite difficult external factors such as the late and compressed North American spring planting season, and additional logistical challenges. The long-term outlook for Mosaic remains compelling, and we are executing well to capture the opportunity