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.
Compass Minerals Inc. reported a strong fourth quarter for both its Specialty Fertilizer and Salt segments. Fertilizer operating earnings were $19.7 million on sales of $61.4 million, up from the year-ago $10.7 million and $56.6 million. Volumes were up and prices remained level with year-ago figures.
Fertilizer earnings for the year were up slightly at $58.7 million on sales of $198.6 million from the prior year’s $58.4 million and $226.2 million, respectively. Volumes were off while prices were up.
Company-wide fourth quarter net earnings were $58.4 million ($1.73 per diluted share) on sales of $387.4 million, up from the year–ago $30.1 million ($0.90 per share) on sales of $267.1 million.
Full year earnings were $130.8 million ($3.88 per share) on sales of $1.13 billion up from 2012’s $88.9 million ($2.65 per share) and $941.9 million.
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