The Mosaic Co. reported a 50 percent drop in net earnings for the third quarter ending Feb. 29, 2012, to $273.3 million ($.64 per diluted share) from the year-ago $542.1 million ($1.21 per share). Net sales were off only slightly to $2.19 billion from the year-ago $2.2 billion. Mosaic said growth in phosphate sales were offset by declines in potash sales.
“We are continuing to make significant strategic progress for long-term success even as we work through seasonal and cyclical market factors, and we feel very good about our business momentum,” said Jim Prokopanko, Mosaic president and CEO.
For more details, see the Green Markets Web-Edition March 30.