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Mosaic's July and August Sales Volume & Revenues Decline
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The Mosaic Company (MOS - Free Report) reported combined sales volumes and revenues by business unit for July and August 2024. Potash sales volumes reached 1,310,000 tons, down from 1,483,000 tons in the same period last year. Revenues declined to $358 million from $489 million a year ago.
For the third quarter, MOS expects potash sales volumes to range between 1.85 million and 2.05 million tons, lower than the previous guidance of 2.1-2.3 million tons due to production interruptions. The outlook for MOP prices at the mine remains unchanged at $200-$220 per ton.
In the phosphate segment, July and August 2024 sales volume was 937,000 tons, down from 1,081,000 tons in the prior year. Revenues also dropped to $620 million from $642 million in 2023.
Third-quarter phosphate sales volumes are expected to be within 1.45-1.65 million tons, revised from the earlier forecast of 1.7-1.9 million tons. Guidance for DAP prices at the plant has been reaffirmed at $555-$575 per ton.
Mosaic Fertilizantes registered a sales-volume decline to 1,851,000 tons in July and August 2024, down from 2,016,000 tons in the same period in 2023. Revenues fell from $1.15 billion to $886 million year over year.
Shares of Mosaic have lost 24.6% in the past year compared with a 19.4% decline in the industry.
Image Source: Zacks Investment Research
Mosaic posted adjusted earnings of 54 cents per share in second-quarter 2024, falling short of the Zacks Consensus Estimate of 68 cents. Net sales declined nearly 17% year over year to $2,816.6 million, also missing the Zacks Consensus Estimate of $2,930.8 million.
The Zacks Consensus Estimate for IAMGOLD’s current-year earnings is pegged at 41 cents per share, indicating a rise of 355.6% from the year-ago levels. IAG’s earnings beat the consensus estimate in each of the trailing four quarters, with the average surprise being 200%. The stock has surged nearly 166.7% in the past year.
The Zacks Consensus Estimate for Eldorado Gold’s current-year earnings is pegged at $1.40 per share, indicating a year-over-year rise of 145.6%. EGO beat the consensus estimate in each of the trailing four quarters, with the average earnings surprise being 430.3%. The company's shares have surged nearly 105.6% in the past year.
The Zacks Consensus Estimate for Carpenter Technology’s current-year earnings is pegged at $6.09 per share, indicating a rise of 28.5% from the year-ago level. CRS’ earnings beat the consensus estimate in each of the trailing four quarters, with the average earnings surprise being 15.9%. The stock has skyrocketed nearly 127.6% in the past year.
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Mosaic's July and August Sales Volume & Revenues Decline
The Mosaic Company (MOS - Free Report) reported combined sales volumes and revenues by business unit for July and August 2024. Potash sales volumes reached 1,310,000 tons, down from 1,483,000 tons in the same period last year. Revenues declined to $358 million from $489 million a year ago.
For the third quarter, MOS expects potash sales volumes to range between 1.85 million and 2.05 million tons, lower than the previous guidance of 2.1-2.3 million tons due to production interruptions. The outlook for MOP prices at the mine remains unchanged at $200-$220 per ton.
In the phosphate segment, July and August 2024 sales volume was 937,000 tons, down from 1,081,000 tons in the prior year. Revenues also dropped to $620 million from $642 million in 2023.
Third-quarter phosphate sales volumes are expected to be within 1.45-1.65 million tons, revised from the earlier forecast of 1.7-1.9 million tons. Guidance for DAP prices at the plant has been reaffirmed at $555-$575 per ton.
Mosaic Fertilizantes registered a sales-volume decline to 1,851,000 tons in July and August 2024, down from 2,016,000 tons in the same period in 2023. Revenues fell from $1.15 billion to $886 million year over year.
Shares of Mosaic have lost 24.6% in the past year compared with a 19.4% decline in the industry.
Image Source: Zacks Investment Research
Mosaic posted adjusted earnings of 54 cents per share in second-quarter 2024, falling short of the Zacks Consensus Estimate of 68 cents. Net sales declined nearly 17% year over year to $2,816.6 million, also missing the Zacks Consensus Estimate of $2,930.8 million.
The Mosaic Company Price and Consensus
The Mosaic Company price-consensus-chart | The Mosaic Company Quote
MOS’s Zacks Rank & Key Picks
Mosaic currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the Basic Materials space are IAMGOLD Corporation (IAG - Free Report) , Eldorado Gold Corporation (EGO - Free Report) and Carpenter Technology Corporation (CRS - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for IAMGOLD’s current-year earnings is pegged at 41 cents per share, indicating a rise of 355.6% from the year-ago levels. IAG’s earnings beat the consensus estimate in each of the trailing four quarters, with the average surprise being 200%. The stock has surged nearly 166.7% in the past year.
The Zacks Consensus Estimate for Eldorado Gold’s current-year earnings is pegged at $1.40 per share, indicating a year-over-year rise of 145.6%. EGO beat the consensus estimate in each of the trailing four quarters, with the average earnings surprise being 430.3%. The company's shares have surged nearly 105.6% in the past year.
The Zacks Consensus Estimate for Carpenter Technology’s current-year earnings is pegged at $6.09 per share, indicating a rise of 28.5% from the year-ago level. CRS’ earnings beat the consensus estimate in each of the trailing four quarters, with the average earnings surprise being 15.9%. The stock has skyrocketed nearly 127.6% in the past year.