The Mosaic Co. today reported second quarter 2015 net earnings of $391 million, compared to $248 million in the second quarter of 2014. Earnings per diluted share were $1.08 in the quarter compared to $0.64 last year. Notable items positively impacted current quarter earnings per share by $0.03.

Mosaic’s net sales in the second quarter were $2.5 billion, up from $2.4 billion in sales last year.

Operating earnings during the quarter were $510 million, up from $403 million a year ago.

The year-over-year change was driven by higher phosphates operating earnings primarily as a result of higher sales volumes, and higher potash operating earnings as a result of higher realized prices and benefits from lower operating costs, partially offset by higher Canadian resource taxes.

"Our second quarter results demonstrate the earnings leverage we’ve created," said Jim Prokopanko, president and CEO. "Over the course of the last two years, we have transformed Mosaic’s operations to become more efficient and made great progress in optimizing our balance sheet. This quarter we generated higher earnings per share than two years ago, notwithstanding lower potash and phosphates prices since then."

"We are pleased with the performance of each of our segments during the second quarter," said Rich Mack, executive vice president and CFO. "Demand from the export markets, combined with continued healthy fertilizer application rates in North America, led to good volumes and prices during the quarter. Cost reduction efforts and focused execution helped drive margin rates higher, resulting in a significant improvement in earnings compared to a year ago."

Rentech Inc., majority shareholder of Rentech Nitrogen Partners LP, today announced that it will effect a 1-for-10 reverse stock split of its common stock. On August 20, 2015, each 10 shares of Rentech’s issued and outstanding common stock and equivalents will be converted into 1 share of common stock and will begin trading on a split-adjusted basis.

Company shares closed Aug. 3 at $0.80 per share.

The reverse stock split will affect all issued and outstanding shares of the company’s common stock, as well as common stock underlying stock options, restricted stock units, warrants and preferred stock outstanding immediately prior to the effectiveness of the reverse stock split. The reverse stock split will proportionally reduce the total number of shares outstanding from approximately 230 million to approximately 23 million. Concurrent with the reverse stock split, the authorized shares of common stock will be reduced from 450 million to 45 million.

No fractional shares will be issued in connection with the reverse stock split. Any fractional share of common stock that would otherwise have resulted from the reverse stock split will be converted into cash payments equal to such fraction multiplied by the closing trading price of the common stock on August 19, 2015, the last trading day immediately preceding the effective date of the reverse stock split.

Rentech has chosen its transfer agent, Computershare Inc., to act as exchange agent for the reverse stock split. Stockholders holding their shares in book-entry form or through a bank, broker or other nominee do not need to take any action in connection with the reverse stock split, and will see the impact of the reverse stock split automatically reflected in their accounts following the effective date. Beneficial holders may contact their bank, broker or nominee for more information. For those stockholders holding physical stock certificates, Computershare will send instructions for exchanging those certificates for shares held in book-entry form or for new certificates, in either case representing the post-split number of shares. Computershare can be reached at (855) 396-2084.

Rentech’s trading symbol, RTK, will not change as a result of the reverse stock split. The Company’s common stock will begin trading under the new CUSIP number 760112 201.

Additional information about the reverse stock split can be found in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on May 8, 2015, a copy of which is available at www.sec.gov or at www.rentechinc.com under the SEC Filings tab located at the Investors section of the website.

Canpotex Ltd. has announced that Ken Seitz will become president and CEO, effective Nov. 1, 2015. Steve Dechka, who has been with Canpotex 33 years, will retire as president and CEO at the end of the year.

Prior to joining Canpotex, Seitz was senior vice-president and chief commercial officer of Cameco Corp. He was responsible for most of the commercial aspects of the organization. He has over 20 years of industrial experience, primarily in the resource industry, and has focused expertise with acquisitions and divestitures, business development, and marketing and sales. His role at Cameco required him to interact with business executives and governments around the world.