The Mosaic Co., Tampa, reported a net loss of $1.07 billion for full year 2019, versus 2018 income of $470 million. The dive reflected noncash charges from previously announced asset portfolio optimization decisions as well as a goodwill impairment, all related to challenging industry conditions. Mosaic noted that weather conditions, including the wettest year in North America in almost 50 years, negatively impacted North American spring and fall applications and sales volumes, which in turn pressured prices.
Mosaic had a fourth-quarter loss of $921 million, compared to year-ago income of $112.3 million.