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Tuesday, August 6, 2019

-=Mosaic (MOS) reported earnings on Tue 6 Aug 2019 (b/o)

Mosaic misses by $0.17, misses on revs; lowers FY19 EPS below consensus 
  • Reports Q2 (Jun) earnings of $0.12 per share, excluding non-recurring items, $0.17 worse than the S&P Capital IQ Consensus of $0.29; revenues fell 1.3% year/year to $2.18 bln vs the $2.31 bln S&P Capital IQ Consensus.
  • Co issues lowered guidance for FY19, sees EPS of $1.10-1.50 from $1.50-2.00 vs. $1.56 S&P Capital IQ Consensus. The company expects Mosaic Fertilizantes to achieve its targeted $275 mln in net synergies in 2019, despite challenges related to the new Brazilian tailings dam regulation. The Potash segment delivered gross margin per tonne of $84 as cash costs per tonne declined sequentially, despite a lower operating rate as a result of slower sales in the quarter.
  • Guidance primarily reflects the impact of lower than expected sales volumes in the first half of 2019 and a slower recovery of phosphates margins.

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