The Mosaic Co. reported third quarter 2014 net earnings of $202 million, up from $124 million a year ago. Earnings per diluted share were $0.54 in the quarter compared to $0.29 last year. Notable items negatively impacted third quarter 2014 net earnings by $11 million, or $0.02 per share. Third quarter 2013 notable items negatively impacted prior year net earnings by $95 million, or $0.22 per share. Mosaic’s net sales in the third quarter of 2014 were $2.3 billion, up from $1.9 billion last year. Gross margin during the quarter was $415 million, up from $387 million a year ago, driven by higher phosphate and potash sales volumes. Operating earnings during the quarter were $277 million, up from $144 million a year ago.
"Mosaic delivered improved year-over-year performance despite weakness in the broader agricultural sector," said Jim Prokopanko, president and CEO. "The improving demand momentum for both potash and phosphates that started in the fourth quarter of 2013 continued. We are on pace to deliver more tons this year than in any of the last five years, and close to the records of 2008."