The Conversation (0)
Mosaic (NYSE:MOS) reported its third quarter 2015 net earnings of $160 million, down from $202 million in Q3 2014. EArnings per diluted share for the quarter were $0.45 compared to $0.54 last year.
Mosaic (NYSE:MOS) reported its third quarter 2015 net earnings of $160 million, down from $202 million in Q3 2014. EArnings per diluted share for the quarter were $0.45 compared to $0.54 last year.
As quoted in the press release:
Notable items negatively impacted current quarter earnings per share by $0.17, primarily due to non-cash foreign currency transaction losses. Adjusted earnings per share, excluding notable items, were $0.62 per share in the quarter, compared to $0.56 per share last year. Mosaic’s net sales in the third quarter were $2.1 billion, down from $2.3 billion in sales last year, as a result of lower volumes and prices. Operating earnings during the quarter were $246 million, down from $277 million a year ago. The year-over-year change was driven by lower net sales, partially offset by no restructuring expenses during the current year period.
Cash flow from operating activities in the third quarter of 2015 was $184 million, which is down from $375 million in the prior year period. Capital expenditures totaled $245 million in the quarter. Mosaic’s total cash and cash equivalents were $1.3 billion, after setting aside $630 million, which is committed to be placed into trusts as financial assurance to support the closure and long-term care of the Company’s phosphogypsum management systems. Long-term debt, including current maturities, was $3.8 billion as of September 30, 2015.
Joc O’Rourke, president and CEO of Mosaic, commented:
Over the course of the last two years, we have transformed Mosaic to become more efficient and made great progress in optimizing our balance sheet. We continued to grow adjusted earnings per share, despite notably weaker crop nutrient prices and a challenging macroeconomic environment.
Click here to read the full Mosaic (NYSE:MOS) press release.