Mosaic Sees Profit That Beats Estimates on Fertilizer Margins
By Liezel Hill Jan 19, 2015
Mosaic Co. (MOS), the largest U.S. producer of phosphate fertilizer, projected fourth-quarter profit that would top analysts’ estimates after margins for its two main crop nutrients exceeded its previous forecast.
Earnings excluding one-time items are expected to be 83 cents to 88 cents a share, Plymouth, Minnesota-based Mosaic said today in a statement. That beats the 57-cent average of 18 estimates compiled by Bloomberg. The company said it expects strong demand for both crop nutrients will continue into 2015.
“Demand for potash and phosphates exceeded our expectations during the fourth quarter,” Mosaic Chief Executive Officer Jim Prokopanko said in the statement. “Customers came to the market in force, as they sought to position inventory in anticipation of a strong spring season and increasing crop nutrient prices.”
Phosphates margins and sales volumes topped previous company forecast ranges, while potash volumes were at the top end of the range, Mosaic said.
