The Mosaic Co. reported a 79 percent drop in net income attributable to Mosaic for the fourth quarter ending Dec. 31, 2013, compared to the year-ago quarter. The company cited lower phosphate and potash prices. However, Mosaic said market conditions are improving and stressed that it had record phosphate shipments during the quarter and a significant improvement in potash volumes.
Fourth quarter income was $128.9 million ($0.30 per diluted share) on sales of $2.18 billion, down from the year-ago $615.7 million ($1.44 per share) and $2.37 billion, respectively. Full year earnings were $1.06 billion ($2.49 per share) on sales of $9.03 billion, down from $1.85 billion ($4.34 per share) and $10.04 billion, respectively.