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Mosaic reports Q2 adjusted EPS 12c, consensus 29c.

Reports Q2 revenue $2.18B, consensus $2.31B. The company said, "We've experienced a North American spring season that was wetter and later than any in recorded history. While our Potash and Mosaic Fertilizantes businesses continued to perform well, weakness in the phosphates market negatively impacted second quarter results. Moving forward, strong price increases in grains together with depleted soil nutrients in North America are expected to drive fertilizer applications significantly higher this fall. The actions we've taken to reshape our business, including the permanent closure of our Plant City phosphates facility and the acceleration of the development of the K3 potash mine leading to today's announced curtailment of potash production at Colonsay, are expected to increase our operating leverage to the anticipated strong market fundamentals in the second half of 2019 and beyond."

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Publication:The Fly
Article Type:Financial report
Date:Aug 6, 2019
Words:134
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