Mosaic (MOS) Tops Earnings Estimates In Q1, Cuts FY19 View
Zacks Investment Research | May 07, 2019 05:40AM ET
The Mosaic Company (NYSE:MOS) logged profits of $130.8 million or 34 cents per share in the first quarter of 2019, a roughly three-fold jump from a profit of $42.3 million or 11 cents per share in the year-ago quarter. The bottom line in the reported quarter was positively impacted by foreign currency transaction gain and unrealized gain on derivatives.
Barring one-time items, adjusted earnings were 25 cents per share for the reported quarter, up from 20 cents a year ago. The results topped the Zacks Consensus Estimate of 21 cents.
Net sales fell roughly 2% year over year to $1,899.7 million in the quarter. The figure exceeded the Zacks Consensus Estimate of $1,885.5 million. Lower sales in the Phosphates segment due to reduced volumes were offset by higher sales across Potash and Mosaic Fertilizantes segments.
Per the company, higher costs affected all of its businesses during the quarter, including costs related to impacts of weather in North America and regulatory changes in Brazil.
The Mosaic Company Price, Consensus and EPS Surprise
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