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The Mosaic Company Business Update
Sep. 21, 2017 08:58AM PST
Phosphate InvestingThe Mosaic Company (NYSE: MOS) today issued the following update on its third quarter business performance in connection with Hurricane Irma. Prior to the hurricane, profitability metrics were tracking ahead of the third quarter guidance with good demand and strong operational performance. While Mosaic was fortunate to have avoided significant damages in connection with Hurricane Irma, …
The Mosaic Company (NYSE: MOS) today issued the following update on its third quarter business performance in connection with Hurricane Irma.
Prior to the hurricane, profitability metrics were tracking ahead of the third quarter guidance with good demand and strong operational performance.
While Mosaic was fortunate to have avoided significant damages in connection with Hurricane Irma, the company expects approximately 250,000 to 350,000 tonnes of lower production in the month of September. Together with the damage to Mosaic’s Bartow warehouse, this could result in a loss of up to 400,000 tonnes of finished phosphate product.
Mosaic will provide additional detail on the financial impact of the hurricane in the month of September as part of its third quarter earnings release.