Mosaic Q1 net earnings plunge to $45M from $435M YoY; revenue down 26%

MOSAIC CO

2024-Q1 EPS reported $0.14 revenue$2,679,400,000

Net earnings $45M ($0.14 diluted EPS); adjusted EPS $0.65 vs $1.14 prior year.
Revenue $2.7B, down 26% YoY; gross margin rate 14.9% vs 18.6%.
Potash operating earnings $198M (down 51% YoY); Phosphate $40M (down 85% YoY).
Mosaic Fertilizantes posted operating earnings of $42M, vs a loss of $32M last year.
Announced Ma'aden transaction valuing Mosaic stake at ~$1.5B; returned 88% of FCF to shareholders.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MOSAIC CO reported first quarter of 2024 results: revenue $2.7 billion, net income $45 million, EPS $0.14 per diluted share.

Period: first quarter of 2024
Revenue: $2.7 billion
Net income: $45 million
EPS: $0.14 per diluted share
Result: reported results

Exact text from the filing

and the completion of previously announced low capital intensity initiatives that build on our strengths." First Quarter Results Highlights: • First quarter revenues totaled $2.7 billion, down 26 percent from the year ago period, reflecting the impact of lower selling prices. The gross margin rate in the first quarter was 14.9 percent, down from 18.6 percent in

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Source: SEC EDGAR

accession 0002004032-24-000008

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