Mosaic 2Q Results Up
The Mosaic Company today reported second quarter 2017 net income of $97 million, compared to a net loss of $10 million in the second quarter of 2016. Earnings per diluted share were $0.28, which included a negative impact of $0.01 from notable items.
Mosaic’s net sales in the second quarter of 2017 were $1.8 billion, up from $1.7 billion last year, with higher sales volumes offsetting lower phosphates realized prices.
Operating earnings during the quarter were $95 million, up from $12 million a year ago, driven by higher phosphate and potash sales volumes, higher potash and international distribution segment margins, partially offset by lower phosphate margins.
“Mosaic generated improving results during the second quarter as global demand for potash and phosphates remained strong,” said Joc O’Rourke, president and CEO. “We continue to focus on managing our margins, costs and capital as markets gradually improve.”