• 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
    Phosphate Market
    Phosphate News
    Phosphate Stocks
    • Phosphate Market
    • Phosphate News
    • Phosphate Stocks
    market news

    The Mosaic Company Reports First Quarter 2017 Results

    Melissa Shaw
    May. 02, 2017 09:15AM PST
    Phosphate Investing

    The Mosaic Company (NYSE: MOS) today reported a first quarter 2017 net loss of $1 million, compared to net earnings of $257 million in the first quarter of 2016. Earnings per diluted share were $0.00, which included a negative $0.04 impact from notable items. Mosaic’s net sales in the first quarter of 2017 were $1.6 …

    The Mosaic Company (NYSE: MOS) today reported a first quarter 2017 net loss of $1 million, compared to net earnings of $257 million in the first quarter of 2016. Earnings per diluted share were $0.00, which included a negative $0.04 impact from notable items. Mosaic’s net sales in the first quarter of 2017 were $1.6 billion, down from $1.7 billion last year, with lower prices more than offsetting higher sales volumes. Operating earnings during the quarter were $30 million, down from $163 million a year ago, driven by lower phosphate and potash prices, partially offset by lower phosphate raw materials costs and effective expense management.
    Mosaic Company President and CEO O’Rourke commented:

    “Our results do not yet reflect improving potash and phosphate market conditions we anticipate to benefit from for the remainder of the year. This quarter we experienced several operational challenges which are now largely behind us.  Our constructive outlook hasn’t changed and we expect to see stronger earnings in the remainder of 2017.”

    Cash flow provided by operating activities in the first quarter of 2017 was $146 million compared to $266 million in the prior year. Capital expenditures totaled $224 million in the quarter. Mosaic’s total cash and cash equivalents were $675 million and long-term debt was $3.8 billion as of March 31, 2017.
    Rich Mack, Mosaic’s Executive VP and Chief Financial Officer commented:

    “The confluence of the Esterhazy skip failure, an ammonia plant outage, excessive rainfall at Miski Mayo and rail and other logistical issues at Canpotex all occurred during the first quarter and impacted our earnings.  Looking forward, we expect to see higher realized potash and phosphate prices in the second quarter, which should meaningfully improve earnings for Mosaic.”

    Click here to read the full text release. 

    phosphate marketnyse:mosmarket newsmosaic companyphosphate and potashpotash and phosphateexecutive vp
    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

    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 Stocks

    More featured stocks

    Browse Companies

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